Permalink to Circle CEO Says Bitcoin and Ethereum are Oversold, XRP Hits ‘Expedia of Crypto’, and Cardano Reveals Upgrade Launch Date

Permalink to Circle CEO Says Bitcoin and Ethereum are Oversold, XRP Hits ‘Expedia of Crypto’, and Cardano Reveals Upgrade Launch Date

In a new interview on CNBC’s Squawk Box, Jeremy Allaire says the actual use on both networks exceeds the current value.

The fundamental valuation metrics in this space are really focused on the actual usage of these platforms. Now obviously there are hundreds of different crypto assets. There are flagship crypto networks like the Bitcoin network, the Ethereum network. And if you look at the correlations between core usage and value, they’re actually highly, highly correlated.

And what we’re seeing, actually, is both for Bitcoin and for Ethereum in particular, there is some decoupling there. Which is to suggest that both of those assets have been oversold. And so, in the case of Bitcoin, maybe moderately oversold. In the case of Ethereum, potentially pretty significantly oversold. So the amount of usage remains very high – the amount of people deploying smart contracts and the like.”

As for the future price of BTC, Allaire says he’s not in the predictions game, but believes BTC will grow significantly in the coming years. He also thinks the crypto market will not end in a winner-take-all scenario, and millions of digital assets will exist in the years ahead.

“I don’t make significant price predictions, but I think it’s certainly going to be worth a great deal more than it is today…

I do not think it’s a winner take all. We have a phrase: ‘the tokenization of everything’. We think cryptographic tokens are going to represent every form of financial asset in the world. There will be millions of them in years.”

The company currently offers more than 567,928 properties available for booking around the world.

The platform’s crypto marketplace launched back in July, and is built as a decentralized application on the blockchain platform NEO.

The company also has a cryptocurrency called Travala, which can be used to book properties. Bitcoin, Ethereum, Litecoin, Dash, Binance Coin, EOS, Stellar and TrueUSD are also accepted.

Cardano founder Charles Hoskinson has revealed an official date for the launch of Cardano 1.4.

The upgrade is now scheduled for release on December 18th. Cardano 1.4 is the foundation for Cardano’s crypto wallet Daedelus.

You can check out Cardano’s complete roadmap here.

After seven release candidates and a huge amount of QA work, I'm pleased to announce that our best effort release date for Cardano 1.4 is December 18th. Daedalus users will get an in-client update notification next week. Thanks everyone for your patience and support — Charles Hoskinson (@IOHK_Charles) December 14, 2018

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Check Out the Latest Headlines Comments 1
    Frank Dec 14, 2018 Reply Plea see help
Leave A Comment Your email address will not be published.

Share your thoughts, add a comment!

You must be logged in in order to place a comment.

Article comments

Loading...
No comments yet, be the first to comment this article