There was a time when only Bitcoin and Ethereum benefited from positive news updates about the overall cryptocurrency market. Small and emerging tokens would lag behind whenever fundamental updates came about, but that is no longer the case.
The ecosystem of digital curreencies is growing; it is getting stronger and it is not just for major players. Bitcoin is rising all over the world in terms of trading volume, Ethereum is growing in volume too, but many investors are turning their attention to smaller blockchain projects that seem to hold a lot of promise. The cryptocurrency community should welcome these developments, because they are actually beneficial to the industry as a whole, there is no denying that, but can this be done on the strength of fundamentals? Can it be done for every new cryptocurrency token?
If the future of cryptocurrencies was in doubt, you would not be learning about new tokens such as Hologram, Origin Protocol, and Wanchain. These three tokens are lighting up cryptocurrency exchange platforms, and they are doing so at a time when Bitcoin is trying to hold the line at the $60K trading level.
The entire cryptocurrency ecosystem is changing; the three aforementioned tokens are sailing because their respective development teams have announced meaningful partnerships that are indicative of a bright future. Investors are responding in the way that Wall Street investment banking firms usually do. In the case of Origin Protocol, this non-fungible token has enlisted popular recording artists such as hip-hop star Lupe Fiasco to issue new albums on the blockchain platform. Hologram has secured a respected law firm to file patents. Wanchain has entered into an agreement with a Chinese firm to provide a distributed ledger for official records.
Notice how the common denominator for these three tokens is that none of them are digital currencies. The tokens are valuable and can be exchanged for other tokens in order to be converted into fiat, but they are actually blockchain projects that are not necessarily of a financial nature. What this means for investors is that they are realizing the true potential of blockchain technology instead of simply focusing on Bitcoin.