The crypto market is in the process of establishing itself as a major financial market within the global economies. Being recognized by the financial community as a genuine and legitimate market would be a huge boon to the market. As crypto marches forward towards mass-adoption, and away from its former negative reputation, the question which we, the crypto community, must ask is: What needs to happen in order for crypto to be recognized on the global stage?

As the crypto market grows, we find ourselves in an interesting predicament. Due to the significant volatility of the market, value is assessed only by its association to USD. This creates a serious problem because it upends the foundational ideals behind a decentralized economy. In assessing value in this manner, the crypto market is effectively anchored to the USD; therefore, it is still dependent on the intervention of global governmental regulations.

There is no question that crypto needs a standard by which to measure gains and losses, but due to the volatility of the market, doing so on a day-to-day basis is far too unreliable. Comparing a token price in April based off of the purchase price in January is only helpful as it compares to the currency used in the purchase, not the translation into USD.

If we are going to continue to use the USD as a measuring stick for the crypto market, we cannot take numbers at face value, nor apply them in a vacuum. These numbers need to be analyzed within the scope of all the affected financial assets involved. If someone bought X token in January for 10 USD, and now in July it’s only worth 5 USD, they’ve lost half their value, right? Not necessarily. In order to assess gains and losses, we need to understand a wide range of numbers, such as: the value of the USD when it was purchased, the current value of the USD, the value of the cryptocurrency used to make the purchase, and the value of that same cryptocurrency now.

Unfortunately, assessing value in this way is a much more difficult and complex process. Many of the websites currently used as resources are just throwing out numbers without context, explanation, or sources, and individuals are accepting those numbers at face value. This is not a sustainable model, nor is it one that creates confidence in crypto.

All financial markets fluctuate, and with the extreme volatility of the crypto market, those fluctuations are much more greater. But if the crypto market is going to be successful in demonstrating its legitimacy, it needs to be able to stand on its own 2 feet and demonstrate value based on internal numbers and benchmarks in order to assess success.

Crypto is still young, and we’re still getting our bearings, but right now is the turning point. SIRIN LABS is taking significant steps to make crypto more attainable for a mass audience. We are removing many of the obstacles preventing average people from entering into crypto, and nearly eliminating the learning curve entirely by simplifying the process. Our home is that others in the crypto community will follow suit, and create more tools, systems, DApps, reference sites, etc… in order to simplify the understanding of crypto as a financial market as well.

It is only after this occurs, that crypto will be accessible and understandable to the financial community at-large, and be able to truly take its place as a globally recognized global market. The power is in our hands.

Go Crypto!