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The cryptocurrency market has reached a certain level of stability and maturity, even though the current stability comes after a long-term bearish trend that has wiped out over 75% of market cap value since its peak in late 2017. But does it mean the crypto adoption has stagnated? Not at all — in fact, this is the time when more new users are coming in, also because of discount prices that the bear market is offering.

Bitcoin is currently trading close to $5,000, the same level where it was in November of last year, demonstrating low volatility, which hasn’t been typical for the oldest coin out there. However, the fact that BTC has departed from its peak doesn’t mean it cannot revive. A similar situation could be noted several years ago when Bitcoin peaked at over $1,100 in 2013, before entering a long-term correction that lasted for years. It could reach the same level again only at the beginning of 2017. That price behavior demonstrated that it might be too early to bury the crypto market — it hasn’t had its last word yet.

The aggressive adoption of the crypto market has redirected from initial coin offerings (ICOs) to stablecoins and security token offerings (STOs), with the latter two expected to lead the trend in the coming years. Besides, more institutional investors show interest in cryptocurrencies, with the Securities and Exchange Commission (SEC) likely to approve the first crypto-related exchange-traded funds (ETFs) by the end of this year.

Despite the market correction, or maybe because of it, more merchants around the world introduce Bitcoin and other coins as a payment method, with Swiss-based Digitec Galaxus and US electronics retailer Avnet being some notable examples of this month.

In fact, according to a research conducted by the Cambridge Centre for Alternative Finance (CCAF), an academic research centre at Cambridge Judge Business School, the number of cryptocurrency users doubled in the first three quarters of 2018 despite the bearish mood, reaching 139 million. The same trend was observed by Russian cybersecurity firm Kaspersky Labs.

Elsewhere, the Lightning Network, a system that allows faster Bitcoin payments, implements a new feature according to a Twitter announcement from March 20, which might also drive expansion.

The conclusion is that a massive cryptocurrency adoption is inevitable. Perhaps that’s why the new Samsung S10 smartphone will store digital assets while Twitter and Square CEO Jack Dorsey is hiring crypto engineers.

Where Does VELIC Stand in This?

VELIC, which offers multiple crypto services, will be the first to benefit from the wider crypto adoption. The VELIC exchange will see higher volumes while VELIC loans will allow more people to borrow crypto-backed funds.

Besides, VELIC will not only benefit from an eventual cryptocurrency adoption but will also contribute to it, especially through its payment services, expected to go live by the end of this year.

VELIC has a talented team at the helm, meaning that its expansion is a matter of time. When the full range of crypto products is launched, the VELIC ecosystem is poised to become one of the major players in the crypto industry.