Ethereum co-founder Vitalik Buterin has made an appeal to the community to focus on adapting cryptocurrencies instead of paying too much attention to SEC’s decision to approve Bitcoin ETFs.
The crypto market is eyeing on the soon-to-be-launched Bitcoin Bull run after the approval of multiple ETFs by the US Securities and Exchange Commission (SEC). However, SEC has again rejected the second application put forward by Winklevoss twins Cameron and Tyler Winklevoss. The reason cited for this rejection was inordinate uncertainties that need immediate attention.
Ethereum Founder Buterin accentuates the need for a decisive push towards the adaptation of cryptocurrencies. The end users should be able to simply buy Bitcoin, Ethereum, and Co. with a credit card.
There are many critical factors in the process of adaptation and distribution of Bitcoin and Ethereum and other Altcoins. This process entails acclimatising to different places in the everyday life of people, their mobile phones, local retailers, and last but not the least the Internet.
Nevertheless, the entry of large (institutional) investors is also contributing towards the adoption and development of a foundation of trust which is conducive to the crypto market and facilitates the infusion of the blockchain technology in the world.
Many new developments have highlighted the fact that the demand for such a mechanism is rising steadily. The payment service TransferGo has decided to go for the integration of cryptocurrencies in their services as the demand has gone up immensely. Furthermore, in places like Antigua and Barbuda, one can possibly buy a citizenship with Bitcoin. These are just a few examples highlighting a positive growth in this arena.
The success and growth of Cryptocurrencies depend largely on the adaptation strategies chosen by the citizens and the financial institutions in the long run. Cryptocurrencies have a bright future and are here to stay.
The price of Ethereum recorded a minimal decline within the last 24 hours (-2.62 percent at a price of 423 dollars). With a market capitalization of 42$ billion, Ethereum continues to rank second in the world’s largest cryptocurrencies.