CRYCASH Forms Attractive Alliance with Social Gaming Innovators Plink

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Gaming revolutionaries Crytek; notably famous for creating the graphics titan Crysis back in the day and other great titles, are continuing their “next-gen” approach to gaming. This time in the form of a sophisticated gaming ecosystem that integrates all their current titles via a host of social, marketing and competitive applications.

The New Gaming Habitat

CRYCASH boasts an impressive network of services designed to work with all major titles of the Crytek universe. The ability to advertise new games for developers via the CRYCASH platform, set up competitions with friends and earn CRYCASH tokens while doing so.

Another great feature that could stand to run as a whole app on it’s own through it’s feasibility and potential, is the Plink app. The first component of the CRYCASH ecosystem.

Plink is an incredible communication app for gamers allowing them to collaborate and socialise with each other through the use of a neural network.

Pretty in Plink

Plink allows players to see what their friends are playing, recruit others for cooperative missions and complete developer set tasks in return for rewards and CRYCASH tokens.

What’s even better is that Plink has already been developed so it’s more than just a pipe dream. A confident partnership between Crytek whom boast a legendary track record and millions of players creates a great foundation for CRYCASH and Plink to launch.

Plink will also serve as a wallet for CRYCASH tokens, which can be traded like any other cryptocurrency. Plink is the first component of the CRYCASH Ecosystem, to be followed by Advertising platform, CyberSport Platform and CRYENGINE Marketplace.

Getting ahead of the game, and having access to Plink is only open to CRYCASH token sale contributors, who can receive early access to it’s alpha. The CRYCASH ecosystem utilizes its own CRYCASH token with already confirmed partnership with game developer and publisher Crytek, whose games are enjoyed by millions of players around the world.

Fortunes in Features

Each component of the CRYCASH ecosystem will boast innovative features that aim to empower the network of users throughout, with Plink providing the next level of gaming social and reward networks, the advertising platform and marketplace is everything a developer needs to enjoy the high quality service Crytek provides through CRYCASH and the new Plink Partnership.

CRYCASH’s Token Sale began on December, 14, 2017, and will run until January, 31, 2018. There’s a bonus for all until January, 16, The initial price is set 0.001 ETH per 1 CRC. There’s a 20% ‘big fish’ bonus throughout the whole token sale for those willing to contribute 200+ ETH. Currencies accepted are BTC, ETH, BCH, LTC, DASH. All contributors can get a chance to be the first to test Plink alpha – the revolutionary application for gamers.

Visit the CRYCASH Website http://crycash.io/

Read the Whitepaper https://crycash.io/WP.pdf

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Gaming Blockchain Platform Helps Investors Find Best Project to Invest in

The gaming industry is experiencing a significant boom as emerging innovations are causing people to spend more time on gaming platforms especially with multiple gamers systems. These developments and attractions are playing important roles in placing the gaming industry as one of the most advanced markets, with revenue exceeding $116 bln in 2017.

The bigger stage is opening for the industry with the popularity of decentralized technologies. One of the first who saw the opportunity are the creators of Game Machine.The project can be described as a global open platform where gamers, investors and developers can work together, complement each other and help the whole industry to grow faster. While developing the project team considered all the parties. For gamers, they offer in-game items for their favorite titles. As for the developers, the system will provide them an opportunity to focus on the segments of their target audience, raise funds for products and start an ICO. Also, the valuable project search for investors was simplified. Briefly summarizing, Game Machine unites all the participants of the market.

Analytics for investors

Focusing on the investment opportunities within the industry, a new project Game Machine implements Blockchain technology through its Proof-of-Authority (or Proof-of-Gamer) protocol. One of the best advantages for investors is that Game Machine token holders will be able to sell their tokens to gamers and developers for a better price. They also will get a chance to choose only high-quality products to invest as they can see how many users are really interested in the projects which are located on the crowdfunding platform.

Other benefits that accrue to investors within the project includes the opportunity of being invited to the special club with exclusive big discounts and sales for the majority of crowd sales from crowdfunding platform. Top-tier investors will be able to get a part of all tokens, released by every project.

Game Machine already boasts of a working product with more than 60,000 registrations, having more than 40,000 in-game items withdrawn and over 500 mln GMC tokens mined. Hence the release of the Open Beta version which was being focused upon by the Game Machine team for several months. The platform consists of a miner and a store of items for popular games such as CS:GO and Dota 2. Gamers all over the world are showing great interest.

App release and token sale

Game Machine team is focused on releasing its first version of the app for advertisers and also for investors. The mobile version of Game Machine Client for Android is already out and the iOS version is in development now and is scheduled for launch in March 2018. Further, we will see the team set up a product for exchanging tokens and also the creation of an API for the third party resources for the platform. As you see, the Game Machine team is planning a serious work during this year. Also, the project is looking for the developers to join the crowdfunding platform and already has some agreements.

In its currently active token sale which runs until Jan. 31 2018. After the end of the tokensale, Game Machine is going to release its tokens on three grand exchanges. On this very moment project has raised $1.5 mln. The main aim of the team is to take a big segment in the growing game industry market and to unite all the participants.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

Petro Discount: Venezuela is Luring Qatar to Invest in State Cryptocurrency

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A delegation of officials from Venezuela’s government is reportedly pitching the country’s upcoming cryptocurrency petro in Qatar in an attempt to gain the latter as an early investor.

Citing source with knowledge of the diplomatic meetings, Bloomberg is reporting that a group of Venezuelan officials led by ‘crypto superintendent’ Carlos Vargas is currently in Qatar, hoping to land the oil-rich Middle Eastern state as an early investor. The delegation is luring Qatar by ‘currently negotiating discounts’ ahead of the oil-backed cryptocurrency’s upcoming ‘sale’ in February, the report added.

It’s notable that Venezuela is reaching out to Qatar to buy into its cryptocurrency. Qatar is facing its own economic blockade by a Saudi-led coalition since mid-2016 and has been making friends elsewhere by purchasing Airbus commercial planes from France ($6.35 billion), warships from Italy ($5..91 billion), 24 Typhoon fighter jets from the UK ($8 billion) and a $12 billion deal with the US for 72 F-15 fighter jets.

The Pre-Sale

A month-long ‘private pre-sale” will begin on February 15, where government officials expect to raise as much as $1.3 billion, before the sale extends to individuals. Venezuela’s government also intends to pay public workers in the digital token before encouraging them to use the cryptocurrency with tax benefits.

As reported in December, controversial Venezuelan president Nicolás Maduro first announced the state cryptocurrency as a solution to circumvent economic sanctions imposed by the United States’ presidential administration. The sanctions have proved a crippling blockade, cutting Venezuela’s access to global finance and international banking. Petro will be primarily backed by oil, Maduro said, alongside other commodities in gold and diamonds.

On January 9, Maduro doubled down on the plan to launch the petro by announcing the upcoming issuance of 100 million petros – some of which is currently being offered on a discount to Qatar. Each petro will be backed by an oil barrel in Venezuela’s reserves, valuing the first issuance of the petro at approximately $6 billion.

The following day, the opposition-run Venezuelan congress outlawed Maduro’s petro as an “illegal and unconstitutional” instrument that was effectively “an effort to illegally mortgage” Venezuela’s oil reserves.

The Venezuelan Parliament’s legislator Jorge Milan said:

“This is not a cryptocurrency, this is a forward sale of Venezuelan oil. It is tailor-made for corruption.”

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China’s Alibaba Says New P2P Platform Is Not Crypto-Related

Following recent reports that Chinese e-commerce conglomerate Alibaba launched its own cryptocurrency mining platform, the company has issued an official statement Tuesday, Jan. 16, denying that its platform is related to either virtual currencies or their mining.

According to the official statement, published on the microblogging platform Weibo, Alibaba’s recently launched platform ‘P2P Nodes’ has been mistakenly reported as cryptocurrency-related.

The statement further clarifies that the platform is actually a peer-to-peer (P2P) Content Delivery Network (CDN) service provided by Alibaba Cloud designed to allow users to improve their network speed by sharing unused broadband connections with each other.

P2P Nodes credits users with points for validating data on its network, a concept which might sound similar to how Bitcoin miners earn bitcoins for processing transactions.

However, according to Alibaba’s statement, the points in P2P Nodes are not cryptocurrency-based, cannot function as a currency and can only be exchanged for items in the platform’s own gift shop.

The company’s statement further reads:

“We reiterate that Alibaba Cloud has never issued a Bitcoin-like virtual currency, and it will not host any [cryptocurrency] mining platforms”

Amidst continuing reports of Alibaba’s new “mining platform”, the P2P Nodes website is no longer online, according to the CnLedger news outlet.

South Korean Officials Initiated Insider Trading, Bought Bitcoin Before Trading Ban Fiasco

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According to Choi Heung Sik, the director of South Korea’s Financial Supervisory Service (FSC), the country’s integrated financial regulator that examines and supervises financial institutions, several officials and employees of the FSC sold bitcoin immediately before the premature statement on a possible cryptocurrency trading ban was released by Justice Minister Park Sang-ki.

Insider Trading Probe

In a hearing conducted by the South Korean financial committee, director Choi was asked by an opposition party’s lawmaker Ji Sang-wook about an insider trading allegation that emerged earlier this week. Ji directly inquired director Choi if one or more employees of the FSC sold bitcoin before statement of the Justice Minister was released and in response, director Choi stated, “yes.”

As CCN previously reported, on January 11, South Korea’s Justice Minister released an independent and premature statement during a press conference that the government is planning to ban cryptocurrency trading. Merely hours later the press conference was aired on national TV, the Ministry of Strategy and Finance along with the Blue House, the executive office of President Moon Jae-in, officially refuted the potential of imposing a cryptocurrency trading ban.

“The cryptocurrency trading ban proposal introduced by Justice Minister Park Sang-ki was a suggestion made by the Justice Ministry on December 28 to bring speculation within the cryptocurrency market under control. The proposal will be discussed and changed by the task force participated by the Ministry of Strategy and Finance, central bank, Fair Trade Commission, and other agencies,” said Blue House spokesperson Jeong Ki-joon.

At a financial committee hearing, FSC director Choi admitted that several officials within the agency committed insider trading by obtaining knowledge about the Justice Ministry’s statement prior to its release and selling bitcoin immediately before the statement was introduced to the public.

Hong Nam-ki, the head of the state coordination division, clarified at the hearing that the employees or officials who are accused of initiating insider trading will be investigated and punished accordingly by law. Hong emphasized that the agency will likely enforce a law to prohibit officials within the agency from trading cryptocurrencies, as it would prevent the agency, which is a part of the cryptocurrency regulation task force established by the government, from being neutral and transparent in regulating the cryptocurrency market.

“The government is currently investigating into the several government officials that were alleged to have initiated insider trading. Given that it is not appropriate for a government official to trade cryptocurrencies, the agency will encourage its employees to prevent from trading cryptocurrencies i the short-term.”

Citizens Outrage

South Korean citizens, who already submitted a petition to the Blue House signed by more than 250,000 citizens to reject the cryptocurrency trading ban, were outraged once again by the negligence demonstrated by the FSC, an agency that is supposed to remain neutral for the benefit of the market and consumers.

The FSC will undeniably have to face questions on whether insider trading initiated by the officials within the agency impacted the motivation of Justice Minister to release such a statement in a press conference in the future.

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What Blockchain Has to Do With Indian Ban on PwC

On Jan.10 the Securities and Exchange Board of India (SEBI) barred PricewaterhouseCoopers (PwC), one of the “Big Four” accounting firms, from auditing India listed firms for two years for failing to spot $1.7 bln accounting fraud at IT services company Satyam Computer Services.

The Satyam accounting fraud scandal followed by its downfall broke on Jan. 7, 2009 when Satyam’s then chairman, Byrraju Ramalinga Raju admitted to fictitiously overstating the company’s cash balance by $1.7 bln or by 94 percent with the help of its auditor PwC. Due to this accounting scandal, Satyam’s shareholders lost as much as $2.2 bln as its stock value tanked.

As the independent guarantor of Satyam’s financial information, PwC — following in the footsteps of Arthur Andersen — ignored the “glaring anomalies” in the financial details reported by Satyam, which inflated its revenue with 7,561 fake invoices.  

Arthur Andersen was auditor of Enron Corp., whose shareholders lost $74 bln in the all-time worst US corporate accounting scandal in 2002. Arthur Andersen not only breached public’s trust by aiding in Enron’s accounting fraud but went a step further by obstructing justice as well.  Arthur Andersen’s accountants rolled up their sleeves and shredded tons of Enron’s fraudulent accounting/audit records as the company’s billions in losses hidden in off-the-balance-sheet-offshore-entities came under US government scrutiny. The US Department of Justice (DOJ) shuttered Arthur Andersen on March 14, 2002, by charging it criminally.  This reduced the number of worlds big accounting firms from “Big Five” to “Big Four.”    

The triple-entry accounting system makes debut on Blockchain

As the sun set in India on Satyam and PwC due to their collective corrupt undertakings, in the land of the raising sun—Japan–a new triple-entry accounting ledger system made its world debut on Jan. 9, 2009.  A programmer (or group of programmers) using the pseudonym Satoshi Nakamoto launched the groundbreaking Blockchain network and the first units of the Bitcoin cryptocurrency, allowing people to send it, across borders, peer-to-peer over the Internet, in a trusted and secure manner.

Nakamoto’s Blockchain technology was the first working example of a triple-entry accounting system, which was first proposed by Professor Yuir Ijiri, CPA in 1989, followed by cryptographer Ian Grigg in 2005. Defined as an open, distributed ledger–Blockchain technology records and verifies transactions without any trusted central authority. Blockchains are resistant to modification of data and cannot be altered retroactively. The technology greatly reduces the potential for errors when reconciling complex and disparate information from multiple sources.  Because every transaction is recorded and verified, the integrity of financial records is guaranteed, making the falsification or destruction of the records practically impossible.  Blockchain technology is designed to ultimately reduce fraud, as well as the need for auditing resources.

India and Blockchain

India has not made accounting on Blockchain with its triple entry accounting system a mandate yet. Under the Companies Indian Accounting Standards Rules (Ind AS), 2015 G.S.R. 111(E) various classes of companies are required to use a double entry accounting system, that was  formulated in Korea during the Goryeo dynasty (918-1392).

While breaking from tradition is challenging, both industry and the Indian government at the federal and state level are pushing towards adopting Blockchain technology with its triple-entry  accounting system with great force to transform India’s economy—which is the seventh largest and the fastest growing in the world.

Through Satyam scandal to Tech Mahindra Blockchain initiatives

The most striking example of the Blockchain technology transformation in India has been scandalous Satyam’s sale in 2012 to its rival Tech Mahindra that initiated multiple Blockchain initiatives during the last quarter of 2017. Australian energy trading company Power Ledger and Tech Mahindra are testing microgrids on Blockchain, new platform enables households and businesses to trade power from solar panels and battery storage, and it also facilitates the crowdfunding (ICO) of renewable energy assets. Tech Mahindra also announced that it is working on developing a solution using Blockchain technology for vehicle registration and related activities.

On the federal government side, the State Bank of India with assets over $460 bln promised that it will implement Blockchain solutions in a number of financial processes including the management of its Know Your Customer (KYC) system.  “In the future, virtually every function in the world of Financial Services will be displaced, disintermediated and decentralized,” explained Ron Quaranta, Chairman of the Wall Street Blockchain Alliance, which has partnerships with Asia Pacific Countries, during an American Institute of Certified Public Accountants/CPA.com Executive Roundtable.

On the state government side, Andhra Pradesh became the first state in the country to pilot Blockchain technology in two departments, land registry and transportation. This was followed by the state of Maharashtra announcing the use of the Blockchain-integrated platform to secure various government data, potentially including land ownership records as well.

Blockchain and cryptocurrency regulation in India

Currently, India is in the process of developing Blockchain and cryptocurrency legislation.

In April 2017 the Indian government formed an Inter-Disciplinary Committee chaired by Special Secretary (Economic Affairs) to examine the existing legal framework with regard to cryptocurrencies to formulate appropriate regulations.

In June 2017, India’s Prime Minister Narendra Damodardas Modi announced a complete overhaul of India’s goods and services tax (GST) system.  But there is yet to be clarity on the application of international, federal and state level GST taxes on Blockchain technology and cryptocurrencies.   

The Indian Supreme Court pushed the government — central bank and other agencies –to respond to calls to regulate cryptocurrencies as soon as possible.

In response, India’s finance minister, Arun Jaitley, clarified that the government does not recognize cryptocurrency as legal tender.

Selva Ozelli, Esq., CPA is an international tax attorney and CPA who frequently writes about tax, legal and accounting issues for TaxNotes, Bloomberg BNA, other publications and the OECD.

Disclaimer. The views and interpretations in this article are those of the author and do not necessarily represent the views of Cointelegraph.

Cryptocurrency Market Recovers as Bitcoin, Ethereum, et al. Spike 20%

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After experiencing a 2-day slump during which the price of most cryptocurrencies including bitcoin, Ethereum, Ripple, and Bitcoin Cash declined significantly, the cryptocurrency market has started to recover.

Major Cryptocurrencies Surge in Value

Cryptocurrencies in the top 20 rankings of the global cryptocurrency market have recorded large gains over the past few hours. Ripple in particular demonstrated a staggering 48 percent increase in value, while bitcoin, Bitcoin Cash, Cardano, and Litecoin have risen in the range of 15 percent to 35 percent.

Although major cryptocurrencies are still down significantly from their all-time highs, bitcoin, Ethereum, Bitcoin Cash, and Ripple have all kept their “psychological thresholds.” Bitcoin has rebounded above the $10,000 mark, Ether recovered past $1,000, and Ripple did not decline below the $1 mark.

It is highly unlikely that fear, uncertainty and doubt (FUD) from the South Korean and Chinese cryptocurrency markets caused the recent correction, given its magnitude and the size of both markets. But, a reasonable explanation is the closure of bitcoin future contracts on January 17, and whales or institutional investors in the traditional finance market dumping cryptocurrencies like bitcoin to cash out their short contracts.

Over the past 12 months, Ripple has surged by 330-fold, Ether by 130-fold, and bitcoin by 19-fold, with minor corrections. It is also possible that the sudden increase of cryptocurrencies without a major drop in value led to a large correction to occur.

Previously, Ethereum creators Vitalik Buterin and Charles Hoskinson questioned the value of most cryptocurrencies in the market, given that tokens without products and users have obtained multi-billion dollar valuations within a short period of time.

With the recent correction in mind, public blockchains and cryptocurrencies within the global market will need to prove their potential and justify their market valuations by obtaining actual active user bases and useful products. Otherwise, even in a bull market like the cryptocurrency market, another major correction is inevitable.

Where Does Bitcoin and Ethereum Go Next?

In late 2017, billionaire investor Mike Novogratz predicted the price of bitcoin to achieve the $40,000 mark and Ether to surpass $1,500. If the cryptocurrency market can recover to its previous levels before January 16, when bitcoin and Ethereum were at $14,000 and $1,300 respectively, the cryptocurrency market would be in a better position to initiate stronger rallies without weak hands and speculators.

Earlier this week, during an interview with QZ, Constantin Papadimitriou, president of Pundi X, stated that the adoption of bitcoin, Ethereum, and other cryptocurrencies is rapidly increasing in India despite the government’s crackdown on the market. Consequently, the government has started to reconsider its policies and possibly regulate its cryptocurrency market, although no regulations have been finalized as of yet.

Increasing adoption of cryptocurrencies by large remittance markets like India and the Philippines will allow the global cryptocurrency market and blockchains within it to increase further in value. Major financial institutions such as Japan’s largest bank Mitsubishi UFJ Financial Group, better known as UFG, and South Korea’s second largest commercial bank Shinhan Bank have also started the development of cryptocurrency exchanges and wallet platforms.

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Morgan Stanley Now Clearing Bitcoin Futures for Clients, Helping Institutions Gain Exposure

Morgan Stanley is now clearing Bitcoin futures for their clients, meaning that Goldman Sachs is no longer the sole Wall Street firm doing so. Morgan Stanley joins Goldman Sachs, TD Ameritrade, E*Trade and others in clearing CME and Cboe Bitcoin futures.

The reaction of the Bitcoin community has been divided over the creation of regulated Bitcoin futures, with some suggesting manipulation of the underlying Bitcoin market. However, it’s clear that the more Wall Street firms that get involved in anything related to Bitcoin, the more legitimacy it gives to digital currency.

Institutional investors

Morgan Stanley Chief Financial Officer Jonathan Pruzan said the brokerage was mostly concerned with servicing its institutional clients::

“I wouldn’t say it’s been a lot of activity, but it’s for core institutional clients who want to participate in a derivatives transaction.”

Given indications that institutional investors may be starting to play a much greater role in the Bitcoin markets, this is significant. If such institutions become interested in acquiring Bitcoin, the price will certainly soar. Indeed, Coinbase is targeting just such clients with their Coinbase Custody product. Coinbase CEO Brian Armstrong believes institutional investors may be ready to invest as much as $10 bln.

NYSE Owner Will Launch Cryptocurrency Data Feed for Institutional Clients

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The owner of the New York Stock Exchange (NYSE) has announced that it will launch a Cryptocurrency Data Feed to provide institutional clients with real-time market information from cryptocurrency exchanges located throughout the world.

NYSE Owner to Launch Cryptocurrency Data Feed for Institutional Clients

Intercontinental Exchange (ICE) — best known as the operator of the NYSE — made the announcement on Thursday, adding that it has partnered with blockchain startup Blockstream to build the service, which will be distributed as a part of ICE Data Services’ Consolidated Feed and will go live by March.

The service will provide hedge funds and other institutional clients with the same types of data employed by high-speed stock traders and asset managers. In addition to simple pricing data, ICE will provide clients with detailed information about exchange order books, which will help them anticipate market moves and take advantage of arbitrage opportunities that occur as the result of pricing discrepancies between exchanges.

“With the broad array of cryptocurrencies and exchanges, and given the price variances between exchanges, it’s critical that investors have a comprehensive source of pricing information,” said ICE Data Services President and COO, Lynn Martin, in a statement.

Initially, the Cryptocurrency Data Feed will provide real-time, end of day, and historical data for six cryptocurrencies: bitcoin, ethereum, ripple, bitcoin cash, litecoin, and dash.

Blockstream said that the service will launch with data from more than 15 cryptocurrency exchanges, including Bitbank, Bitfinex, BitMEX, Bitso, Bitstamp, BtcBox, BTCC, CEX, Coinfloor, Coincheck, ItBit, Gopax, OKEx, SurBTC, The Rock Trading, Unocoin, Vaultoro, and Zaif. Additional exchanges are expected to contribute data in the future.

Institutions Eye Entry into Cryptoasset Markets

The creation of the Cryptocurrency Data Feed is likely an indication that institutional investors, most of whom have been hesitant to make direct investments in the cryptoasset markets, are clamoring for the professional-quality tools that would enable them to navigate the ecosystem effectively.

In an interview with The Wall Street Journal, Martin said that ICE had received numerous requests from institutional investors for a service that would increase the transparency of the spot markets, although she declined to name interested firms.

At present, most websites that provide cryptocurrency market data target retail investors, and their lack of transparency can create systemic risks for high-volume traders. Earlier this month, for instance, popular website CoinMarketCap triggered an apparent market selloff after it removed South Korean exchange data from its pricing algorithm without warning.

For ICE, the move represents yet another bid to position itself and its subsidiaries at the forefront of the burgeoning institutional cryptoasset marketplace. Although the company was hesitant to list bitcoin futures, it has made several attempts to list the first exchange-traded fund that tracks the price of bitcoin futures (Bitcoin ETF). However, these proposals have yet to earn approval from regulators.

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Institutional Investors Will Bet Big on Cryptocurrencies in 2018

Unlike the stock market, which is seeing its eight-year bull run thanks, in part, to institutional investors, crypto-markets are dominated by individual investors. This is evident by almost every metric.

Crypto-exchanges, which are havens for individual investors, are overwhelmed. Popular crypto-exchange, Binance recently revealed that they added 250,000 new users in a single day. Kraken is onboarding 50,000 new accounts daily and they are logging an astonishing 10,000 new support tickets every day. In a blog post, Kraken developers wrote:

“The recent unexpected explosion in demand has been overwhelming.”

Some exchanges including Binance, Bitfinex and CEX.io have temporarily halted new account registrations so that they can update their technology and better prepare their platforms for the rush of individual investors flooding the market.

Moreover, the much-anticipated Bitcoin futures contracts are also being dominated by individual investors. According to The Wall Street Journal:

“In a sign of how more conservative firms are keeping their distance, the CFTC data show near-zero trading in Cboe’s Bitcoin futures by banks and asset managers.”

Institutional money is on its way

There is endless speculation about a crypto-bubble. Whenever prices begin to shift, or the famously volatile crypto-market fluctuates, pundits are quick to declare the bubble burst and the movement over. When cryptocurrencies endured a flash crash before Christmas, commentators flooded the internet with their crypto post-mortems. Of course, most prices recovered within a single day.

In reality, the crypto-party isn’t winding down. It’s just getting started.

Institutional money is on its way, and when that happens, digital currency values will receive a significant boost. Even JP Morgan Chase CEO and infamous crypto-skeptic, Jamie Dimon, recently expressed regret for describing Bitcoin as a fraud. In an interview with Fox Business, Dimon acknowledged that “the Blockchain is real.” He went on to express support for cryptocurrencies that represent traditional currencies like dollars and yen.

Dimon’s comments were made as CNBC reported that altcoin Ripple has more than 100 clients from the mainstream banking industry using its XRP token. On January 11th, MoneyGram signed on to test Ripple’s XRP token as a digital method for sending money. Ripple’s price rose 25% after the news before receding later that day.

The burgeoning opportunities for institutional investment

As Blockchain use-cases become more prevalent, expect increased institutional investment in cryptocurrency markets.

In October, The Wall Street Journal reported that investment juggernaut Goldman Sachs is considering offering a Bitcoin-related investment product. In comments to the Journal, a Goldman spokesman said:

“In response to client interest in digital currencies, we are exploring how best to serve them in this space.”

Ultimately, individual interest spurs institutional interest, and that will have a significant impact on the value of digital currencies.

Bitcoin futures contracts on Chicago based exchanges run by CME Group and Cboe Group represent burgeoning opportunities for institutional investment. Specifically, they indicate that much anticipated crypto-ETF funds may soon be available for investors. Moreover, according to estimates by Morgan Stanley, in 2017 hedge funds invested more than $2 billion in crypto-related assets. This is a lot of money, but it’s a small percentage of the possible investment.

In short, Bitcoin hedge funds are counting their profits in thousands of percent and institutional investors can’t stay away forever.

As digital currencies continue to gain exposure, they are proving remarkably resilient to investors’ worst fears. Technology is rapidly improving, and many of the same features and safeguards currently maintaining traditional investment markets are increasingly present in crypto-markets as well.

Although the total crypto market cap is tremendous, it’s far from its full potential. Cryptocurrencies are just now becoming household names, and they are still shedding some of our preconceptions that stigmatized investment. However, the real growth driver will be institutional investments, which will be spurred on by the individual investors who want to participate in crypto markets through institutional platforms and by the market forces that make the possibility of considerable profits too essential to pass up.

Alexander Kravets co-founder of XTRADE.IO, a technology company looking to bring mature Wall Street technologies to the world of cryptocurrency. Before he served as Managing Director of a self-clearing broker/dealer that handled four percent of the daily trading volume on NASDAQ and successfully launched Sogotrade, a retail investing platform with over 100,000 clients.