In a recent video, Nugget’s News founder Alex Saunders shared the crypto industry trends that surprised him the most in 2019. Below are the three main ones.
#1—Expectations on Security Tokens
Entering 2019, there was plenty of enthusiasm surrounding the tokenisation of securities. Whilst Alex was never of the opinion that STOs would be a popular investment vehicle among retail investors, he still expected there to be a lot more progress in 2019. A number of highly publicised deals fell through, and demand from investors in traditional assets remained low.
#2—Soaring Interest in Stablecoins
The market for stablecoins grew significantly in 2019. The big surprise here was the change in tone from governments and central banks around the world regarding the value proposition of stablecoins. Prior to the news of the Facebook-led Libra cryptocurrency, it was common to hear regulators disregard stablecoins. Now, seemingly prompted by Facebook subsidiary Calibra—along with the other founding members of the Libra Association—many national governments have upped their level of interest in central-bank digital currencies (CBDCs).
READ: What Are Stablecoins?
It’s surreal to think that, prior to 2019, the term ‘DeFi’—a portmanteau of ‘decentralised’ and ‘finance’—had only been around for several months. By year end, we’d learnt that DeFi had sprung up to become one of the most promising categories of the Ethereum ecosystem.
There are now well over 100 projects and teams building DeFi applications and protocols. One of these, Synthetix (SNX)—then known as Havven (HAV)—was identified and analysed by Nugget’s Crypto Community members in late 2018. When Alex returned from EDCON in early 2019, SNX was again highlighted to members. At this time, SNX was roughly one-twentieth of the spot price it is currently trading for—at the time of writing.
For more on how Alex’s 2019 crypto predictions fared, click the video below.
Prefer listening? Find the audio version on your favourite podcast streaming app by subscribing to ‘Nugget’s News Crypto Podcast’.
Want more? Read Alex’s post on ‘The 5 Biggest Crypto Trends for 2020‘ to ensure you’re across all the main narratives in crypto.