Glitzkoin has since 2020 been calling for an end to, the domination of crypto markets by just one or two cryptocurrencies. Reference was obviously being made to Bitcoin and ETH but, the crypto scenario at that time left investors with few options. While thousands of Altcoins did exist, the challenge of picking the right Altcoins was severely daunting. Glitzkoin has kept pushing for a wider Altcoin movement something that we believe, will make crypto markets more mature and resilient.
2021 saw some impressive developments in the Altcoin sector, Glitzkoin GTN was not the only Altcoin to pull seasoned crypto investors. Interestingly this was also the time when crypto investors realized that, big Bitcoin players were dressing the market for the crypto. As ETH and BTC investors began to overlap, the process of ‘pumping’ also spread to ETH. Repeated attempts to push up prices of Bitcoin and ETH raised an alarm with, thousands of small and medium crypto investors losing confidence in the top two cryptocurrencies.
If Altcoins need to capture a significant share of crypto market trade, there would be a few issues that need to be addressed. There are over 10,000 Altcoins currently listed on various exchanges, picking those with potential can result in formidable challenges. Glitzkoin has called for the definition of criteria that, could be used to rank Altcoins. Setting up such criteria should be an operation that would widely accepted, in the crypto industry. To loosen the domination of Bitcoin and ETH, Glitzkoin experts recommend a 70% Altcoin and 30% Bitcoin crypto market configuration. Reference is not to a specific Altcoin but a group of at least, 250 to 300 actively trading Altcoins.
2021 has seen many Altcoins reach their highest ever price levels. Glitzkoin has contributed its share of success, with a 400% ROI. This as it moved from, below $0.25 in January 2021 to close at $1 as the year ended. We also saw XRP gain investor attention even when, the token was embroiled in legal problems. The list of popular Altcoins is quite long and includes, Cardano and Solana among others. This trend will continue to expand in 2022, something that could worry hardcore BTC and ETH investors.
So when we talk about the diminishing role of Bitcoin and ETH in 2022 (and beyond), one very interesting fact comes to light. From a point where crypto investors, had no options besides BTC and ETH, we have reached a stage where thousands of investors are being attracted to cryptocurrency, through various Altcoins. The bottom line is that it is very possible, to develop a profitable crypto portfolio today, while staying away from Bitcoin and ETH. We will be seeing more of such portfolios in 2022 with, more Altcoin displaying potential.
So what can Bitcoin and ETH do to avoid further loss of popularity? The simple answer is ‘nothing’. The correction was required and the problem, was in the early days of crypto trading. Seems illogical to imagine that at a point in time not so long ago – a mere handful of cryptocurrencies, were capable of dictating market trends and sentiment. This when there were at least 5,000 (Altcoins) in existence.
2022 will change the crypto market landscape, we will see more Altcoins with good potential and also, experience a wider investor base. Non crypto investors and professional investors from stock and gold markets, have already interacted with Glitzkoin since 2021. This proves that the appeal of crypto trade, has gone well beyond a limited group of crypto savvy men and women.
We are moving towards more mature and resilient crypto markets. Crypto industry stakeholders have reason to celebrate.
GLITZKOIN: A quick recap of the Glitzkoin project and the GTN crypto token. The project was launched to improve the demand for natural diamonds and to enhance, the efficiency and productivity of the multibillion dollar industry.
The DiaEx diamond trading platform was developed using Stellar blockchain resources. The GTN token was launched as part of the project and is designated, as the mode of payment on DiaEx. Promoted by second generation diamond veteran Navneet Goenka, Glitzkoin assigned a multifaceted role to the GTN token.
The trading platform was completed in 2019 and was put through rigorous testing in early 2020. A team of diamond dealers subsequently did a pilot run on DiaEx with, actual transactions made on the platform. This process was largely successful and revealed a few areas for improvement. The Glitzkoin tech team was handling the minor adjustment when, the pandemic and subsequent lockdowns slowed down the process. The management will reschedule the full launch of DiaEx once the health crisis eases.
Talking about the multifaceted nature of the GTN token, the project is also focused on further increasing usage for the crypto – this aside from crypto exchange trade and the payment usage on the DiaEx platform. The concept is to have operators of various businesses, accept the GTN token as a mode of payment in their operations. Moving this idea forward Glitzkoin has confirmed a partnership with online ticketing giant Myticket.asia, wherein clients of the ticketing portal could use the GTN token as a mode of payment. Technical requirements for the integration of systems on both sides is at an advanced stage, nearing completion. Reviewing the challenges that the entertainment industry has been going through during the COVID pandemic, both managements have decided to set a launch schedule when the situation starts to normalize. The arrangement setup between Glitzkoin and Myticket.asia will form the blueprint, for similar deals to be negotiated with other business operators.