Seojun Kim, CEO of Hashed (Photo = Hashed)
“This year, the bitcoin market price is expected to challenge $100,000 (approximately 18.57 million won). For the first time in history, the Bitcoin Listed Index Fund (ETF) will be approved and the Ethereum price will also surpass all-time highs.”
Seo-joon Kim, the largest virtual asset (cryptocurrency) in Korea, leading venture capital (VC) hashed(Photo)On the 2nd, through its blog,’Blockchain & Cryptocurrency Market Forecasts for 2021′ released data and presented 10 predictions related to the virtual asset (cryptocurrency) market this year.
“The virtual asset market will continue to rise in 2021,” he said. “From February 2020, institutional investors began to withdraw large amounts out of exchanges for the purpose of long-term holdings of bitcoins. Liquidity crisis without bitcoin sales volume. As the sell-side liquidity crunch) intensifies, it is leading the market to rise.”
Even at the end of 2019, △Bitcoin market price will hit a record high in 2020 △Virtual asset market such as banks will begin to enter the market △A bitcoin fund in the form of individual participation will be launched It has published 10 predictions. Most of the predictions at the time were correct, so I am interested in whether or not this prediction will also hit.
“Bitcoin ETF approved this year and challenged the price of $100,000”
Exchange bitcoin holdings gradually decreasing (photo = cryptoquant)
As the basis for predicting that this year’s bitcoin market price will reach $100,000, CEO Kim heard that the amount of bitcoin in virtual asset exchanges has been decreasing since February 2020. In order for the price of bitcoin to go down, it is necessary to sell bitcoins on the exchange, but as institutions move bitcoins out of the exchange for long-term holdings, the sales volume is gradually decreasing.
“This trend is accelerating from mid-2020,” he predicted. “In 2021, the amount of bitcoin in the virtual asset exchange will continue to decline,” he predicted.
“One of the biggest buyers of bitcoin among institutional investors is Grayscale. The total amount of the Grayscale Trust, which started at $2 billion (about 2,171.4 billion won) in early 2020, is $20 billion (about 21 billion won) at the end of 2020. It amounts to 71.4 trillion won),” he said. “Most of these assets are concentrated in Bitcoin, and we expect to do so in the future.”
He also pointed out that the Bitcoin ETF will be approved by the end of this year as a factor for the rise of Bitcoin. “As a hedging against the quantitative easing of central banks, the buying of bitcoin by listed companies such as MicroStrategy will become a bigger trend. In 2021, there is a possibility that a country buying bitcoin as a reserve asset will emerge,” said Kim. There is also,” he expected.
The Ethereum market price is also forecast to exceed the all-time high ($1448) this year.
CEO Kim said, “The media mainly paid attention to the price of bitcoin, but in fact, looking at the price change from the beginning of the year in 2020, Ethereum has risen more than Bitcoin. Next year, institutional investors will enter Ethereum following Bitcoin. It will be time. It is a good sign that Ethereum futures trading has started on the Chicago Merchandise Exchange (CME).”
“A company that issues some of its shares in the form of tokens will emerge”
Jay Clayton, Former Chairman of the Securities and Exchange Commission (SEC) (Photo = AP)
CEO Kim predicted that starting this year, companies that issue some of their stocks in the form of a security token (STO) will emerge. This is because when converting existing securities into token form, authentication and management are easy and transaction costs can be reduced.
“In the long run, all stocks will be absorbed in the form of security tokens,” he said. “If only the regulatory environment is supported, it is superior to traditional stocks in all respects. J. Clayton, former chairman of the Securities and Exchange Commission (SEC),”(Photo)In a conversation with the Director of the Monetary Supervisory Service (OCC), he said,’All stocks are likely to be digitalized.’
Technology that implements a “protocol economy (economic ecosystem based on neutral rules in which market participants can independently and independently interact)” as it becomes possible to distribute rewards for contributions transparently and fairly to platform participants as the security token is activated He stressed that a foundation could be created.
CEO Kim said, “The Ministry of SMEs and Startups has also announced that it will pursue such a blueprint policy in 2021. In 2021, regulations and guidelines to support the issuance and distribution of securities tokens in a wider variety of countries and sectors will be established. I will.”
“The promotion of mergers and acquisitions and listing of blockchain companies will be activated”
Coinbase, the largest virtual asset exchange in the U.S. that is promoting IPO (Photo = Coinbase)
It also predicted that there will be cases of full-scale mergers and acquisitions and listings among blockchain companies.
CEO Kim said, “In addition to the growth and maturation of the blockchain industry and the visibility of the IPO of Coinbase, the largest cryptocurrency exchange in the United States, larger institutional investors will participate and induce mergers and acquisitions between blockchain companies. In addition, various attempts will be made to promote listing.”
In particular, the case of merger between DeFi (decentralized finance) projects will emerge. Will occur, but the efforts of the developers and the project to overcome each problem quickly will steadily and rapidly fill the hole and grow.”
In addition, the total deposit amount (TVL) in the DeFi ecosystem will reach 100 billion dollars (approximately 108 trillion 57.3 billion won). “TVL is increasing while the market cap of mainnet tokens that do not have DeFi operating with scale is stagnating or It will decline and will be pushed out of the top ranks.”
Below are the top 10 predictions of the virtual asset market in 2021 by CEO Seo-joon Kim.
(1) Bitcoin ETF will be approved for the first time in history
(2) The price of Bitcoin will challenge $100,000
(3) The price of Ethereum will reach an all-time high
(4) The total issuance of stable (currency value linkage) coins on the public blockchain will increase to more than 100 billion dollars (approximately 108 trillion 57.3 billion won).
(5) The total amount of DeFi deposits (TVL) will also challenge the scale of 100 billion dollars (approximately 108 trillion 57.3 billion won).
(6) Among the top 50 virtual assets in the market cap at the end of 2021, DeFi tokens will account for 13 or more
(7) Decentralized Exchange (Dex) trading volume in 2021 will grow to over 500 billion dollars (approximately 542,865 billion)
(8) Companies that issue some of their stocks in the form of security tokens should appear
(9) There should be cases of mergers and acquisitions between blockchain companies in earnest. Cases of merger between DeFi projects will also emerge.
(10) As a single non-replaceable token (NFT), a token with a value of more than 300,000 dollars (about 325.71 million won) will appear.
Reporter Kim San-ha, Hankyung.com [email protected]
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