The cryptocurrency news this year (2019) showed a lot of ups and downs for the prices of the biggest cryptocurrencies. However, prices aside, we have seen crypto making big moves in a lot of industries. Today, we are talking about the crypto adoption in 2020 and what will be the main driving factors behind it.
Right now, it is clear that crypto still has a long way to go if it wants to become ubiquitous. The good news is that help is at hand and 2020 looks set to bring a lot of new developments which will boost the crypto adoption and help decentralized finance as well as central bank digital currencies.
The economic recessions are also seen to benefit from crypto – and make the concept of digital currencies a lot more attractive to organizations and individuals alike. So, what is going to be big and how will the crypto adoption look like in 2020?
First of all, we must say a word or two about the upcoming Bitcoin reward halving which is set to take place in May 2020. According to many analysts, this may bring the price of BTC up and increase demand for the cryptocurrency.
Halving aside, the other potential winner and booster of the crypto adoption in 2020 may be the world of decentralized finance (DeFi). The sub sector has already witnessed dramatic gains this year and is probably set for a very good 2020.
Blockchain-Based Payment Networks
Ever since Facebook unveiled Libra, the Libra coin news showed a lot of interest for the cryptocurrency. However, what’s more important is that there may be a lot more companies which are likely to follow Facebook and their lead in announcing their own versions of Libra. The stablecoin, on the other hand, is scheduled to be launched next year.
Last but not the least are the cryptocurrencies belonging to exchanges – such as Binance Coin (BNB) and Huobi Token (HT). They are also set to grow and be implemented in a lot more solutions throughout 2020. According to analysts, their strength lies in their link to the crypto ecosystem especially as exchanges continue to innovate.
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