Cryptocurrencies – What’s behind the sudden boom? [5 Reading Tips]

Quelle: Pexels.com
Source: Pexels.com

Cryptocurrencies and the technology behind them, the blockchain, have been what everyone has been talking about for months.  Terms like bitcoin, ether, token, decentralisation, and smart contracts are no longer unknown to most people.  Meanwhile, in the last six months, the number of different coins (over 1,400) are booming and their stock market value has quadrupled. This is currently leading to a cryptomania with an uncertain future that feeds the speculative bubble around digital currencies.

But not all everything about this quick development is positive news.  For example, the Minister of Justice in South Korea recently announced that he wants to ban the trade of all crytopcurrencies. Shortly thereafter, however, the Minister of Finance contradicted this statement. As a result, on Friday, prices fell by almost 20 percent.

This raises the question of whether this is just a hype or the beginning of a revolution…

Quelle: Statista
Source: Statista
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