The U.S. dollar lost about 7% of its value in 2020, while Bitcoin rallied about 300% during the same period. As Bitcoin’s institutional adoption increases, United States companies may start to diversify their treasury with other stores of value, and Bitcoin (BTC) stands a good chance to garner a portion of it.
Crypto market data daily view. Source:Coin360
Ark Invest’s latest report, “Bitcoin: Preparing for Institutions,” shows that even a paltry allocation of 1% by companies from the S&P 500 could boost Bitcoin’s price by $40,000. However, analysts at Ar believe that the allocation is likely to be in the range of 2.5% to 6.5%, which “could impact bitcoin’s price by $200,000 to $500,000.”
Even as Bitcoin’s price consolidates and readies for the next leg up, several altcoins have been rising, backed by strong fundamentals and investors’ high expectations of their upcoming products. Let’s look at three such tokens today.
BAND/USD
The decentralized finance space has boomed in the past few months, and the success of the protocols rely heavily upon dataTitle: Band, Loopring (LRC) and Cream secure a slice of DeFi with new partnerships
Sourced From: cointelegraph.com/news/band-loopring-lcr-and-cream-secure-a-slice-of-defi-with-new-partnerships
Published Date: Tue, 02 Feb 2021 22:30:00 +0000
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