“Crypto Fomo takes control while the paid charges increase for registers and payment gateway fights to keep up”
In recent months, the cryptocurrency market has undergone an increase in interests known as “fomo” (fear of getting lost), in which investors want to enter the ground floor of a new cryptocurrency. This led to a rapid expansion of encryption, when the new tokens and projects appear every day.
One of the main drivers of this Fomo is the growing introduction of blockchain technology in different sectors. Since more and more companies and governments are starting to use digital currencies as a payment measure, the value of existing activities, such as actions, bonds and goods, has started to decrease. This caused an influx of investors looking for alternative forms of wealth, including cryptocurrencies.
As a result, the token tax has increased quickly in recent times. According to Coinmarketcap, the first 10 markers after market capitalization have significantly increased prices since Fomo reached its peak. The most remarkable example is Bitcoin (BTC), which has increased by 50% only in recent months.
The increase in token expenses also led to greater competition between the payment gateway, which are trying to follow the rapid rhythm of innovation. Many payment gateways, including Paypal and Stripe, have announced the intention of integrating cryptocurrency payments on their platforms, but so far no one has been able to combine the adoption rates of the new players.
The main culprit of this fomo is undoubtedly the popularity of the growing decentralized finance protocol (Defi), such as Uniswap and curves. These platforms allow users to market chips and other resources directly from each other, eliminating the need for intermediaries, such as payment doors.
However, Defi Space also raised concerns about the safety and respect for regulatory implementations. Since the use of cryptocurrency continues to increase, also the risk of hacking and other computer crime. This caused a growing opposite to the Defi protocols, many asking for more rigorous rules for user protection.
In conclusion, Fomo played an important role in promoting the rapid expansion of the cryptographic space, but also presents its risk and challenges. While the market continues to evolve, it will be interesting to see how the payment gateway responds to these changes and if they can adapt to the new panorama.
sources:
- Coinmarketcap
- COINDESK
- Bloomberg