The Top 3 Cryptocurrencies that Could Double by 2020
Institutions are still pushing for Bitcoin ETF approval.
Granted, the US SEC has been ruthless in its denial of ETFs at its doorstep in recent months, but eventually it will happen -- and beaten-down coins, in our opinion, will begin to gain traction among more retail and institutional investors
And sure, the CBOE withdrew its request for approval of the VanEck Solid BTC fund.
However, it didn’t pull the fund on the idea of rejection. It pulled it because of the US government shutdown. And with 90% of the US SEC staff furloughed, the commission had more reasons to either delay or reject the VanEck's ETF filing.
"The SEC is affected by the shutdown... we were engaged in discussions with the SEC about the bitcoin-related issues, custody, market manipulation, prices, and that had to stop. And so, instead of trying to slip through or something, we just had the application pulled and we will re-file and re-engage in the discussions when the SEC gets going again," noted Jan van Eck, CEO of VanEck, as quoted by CNBC.
Still, the CBOE is determined to get this ETF through.
In fact, the group just resubmitted its proposal for approval.
Sure, SEC Chairman Jay Clayton is resistant to approve such an ETF, given the state of cryptocurrency markets. But the CBOE argues that cryptocurrency markets have matured enough, where the possibility of manipulation is no greater than in other markets.
Once the US SEC approves an ETF – which we believe will eventually happen – it would be a massive step forward for the mass adoption of cryptocurrencies.
Learn How to Spot Unique and Predictable Patterns in Cryptos
As we near that possibility, here are the top 3 cryptocurrencies to own other than Bitcoin.
Top Coin No. 1—TRON (TRX)
TRX says its smart contracts are 200x faster than Ethereum and 100x cheaper than EOS. Plus, remember, Sun believes TRON will be in the Top 10 of cryptocurrencies in the next six months.
All as TRX moves to complete its key milestones in the fourth quarter of 2018. One of those includes creating more awareness of the TRON protocol. Then, they want to focus on entertainment and gaming with hopes of attracting more Dapps developers.
In addition, Bittrex recently announced that TRX is available to trade with the USD. This marks the first time TRX has been paired with the USD in the U.S. In fact, it’s now one of 10 digital currencies available for direct USD exchange on Bittrex.
Top Coin No. 2—Ripple (XRP)
Ripple launched in 2012 and is a guaranteed way of payment settlement. It offers an affordable and instant means of international payments to its users. It enables banks to conduct transactions across international borders. Its transparency and low-cost operation makes it one of the top crypto payment methods for its users.
The fact that it doesn’t require mining confirmation, makes its consensus ledger genuinely unique. Therefore, it significantly reduces the use of computing power. It is one of the top digital currencies among traditional commercial institutions which are trying to revolutionize the trend of cross-border payments.
Its xRapid will help businesses and financial institutions transact without friction.
It will also address the issue of “minimizing liquidity costs and making cross-border payment transactions faster. xRapid claims to significantly reduce the capital requirements for liquidity,” as reported by CNBC.
Top Coin No. 3—MobileGo (MGO)
“MGO will accelerate transformative opportunities for our community,” says Aleksandr Agapitov, founder and CEO of Xsolla.
“Game developers will now receive their royalty payouts much faster, and owners of MGO will soon be able to engage in peer-to-peer match play and organize decentralized gaming tournaments in a way never before possible. MGO is essentially the Bitcoin of the gaming industry, the most trusted cryptocurrency that Xsolla is making available to more than half a billion gamers today.”
That alone is a significant game-changer for MobileGo.
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