[D.FINE] Kevin Jeong, Onther CEO, asked questions on future cryptocurrency trends

“The trend in the cryptocurrency market extended from ICOs to DeFi,” Jeong said adding that there is a common trait that can be found from past trend. “ICOs are easy to understand when looking at them as decentralized IPOs,” Jeong said. “DeFi is moving finance onchain.” He said the next trend like previous trends will likely derive from decentralizing something that already exists. Jeon laid out his outlook on future trends of cryptocurrency at D.Fine 2020, a major blockchain event, held at JTBC Hall in Sangam, Seoul, on Nov. 18. # What was the key word for the cryptocurrency industry this year? Zhang Jung-hyouk, the co-founder of Atomrigs Lab, pointed to DeFi as this year’s key word in the blockchain and cryptocurrency industry during the D.Fine 2020 discussion. “While it’s difficult to say that DeFi was the main contributing factor on the recent upswing, within the industry it is seen as succeeding in leading innovation,” Zhang said. Crypto Quant CEO Ju Ki-young picked the participation of institution investors as this year’s key word. “There have been speculations that bitcoin prices would go up if institutional investors enter the market, and this year it became a reality,” Ju said. “We’re just at the beginning stage and there are rooms for further expansion.” # Will Altcoin prices rise? Zhang of Atomrigs Lab said for altcoin prices to go up, it has to have real value, when asked if altcoin prices would go up amid bitcoin prices enjoying an upswing. “In order to have real value, there should be many quality DApps,” Zhang said. “I expect an upswing led by these new altcoins that meets all these criteria to show up one or two years later.” Zhang said the key point will be decentralization. “[The altcoins] will be limited within jurisdictions if it depends on offchain,” Zhang said. “Therefore, the DApps have to be operated on decentralized onchain.” # Will we soon see a bitcoin ETF? Considering the aggressive approach by institutions such as Greyscale and PayPal, there are growing expectations in the market of a bitcoin ETF. “Last year, most of the experts were positive of a bitcoin ETF launching this year,” said Ju of Crypto Quant. “The response from the U.S. Securities and Exchange Commission (SEC) were not so bad. However, it failed.” Ju said it seemed due to the regulatory limit, several institutions are working on a bitcoin ETF discreetly. “What the SEC is concerned about is the price manipulation of bitcoin and the pricing process,” said B-Brick CSO Kwon Yong-jin. “However, in the past two to three years [such concerns] have somewhat stabilized.” Kwon said while the market conditions in launching a ETF have been created, he said he was doubtful if it would serve as a major positive factor. “Since major exchanges and funds provide a similar service, once the ETF is launched, it may not churn out results that may be below expectations,” Kwon said. # The upswing of bitcoin, how the ethereum community sees it Kevin Jeong of Onther said it is difficult to compare bitcoin and ethereum since they are completely different. “This is not a competition of dominance on who will have the larger market share,” Jeong said. “While bitcoin emphasizes scarcity, ethereum is more focused on practicality and therefore their approaches are completely different.”

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