The outbreak of the COVID-19 pandemic is catapulting the crypto-market to newer heights each day. All major cryptocurrencies are seeing a price appreciation in double digits including Bitcoin, Ethereum, XRP, among other cryptocurrencies. The DeFi market is also creating new records this year. During the beginning of the year 2020, the TVL or the Total Value Locked in the DeFi market was far less than a billion dollars, 680 million US dollars to be precise. By June, the value had crossed 3 billion US dollars. In July and August, the worth of the DeFi market doubled from 3.5 billion US dollars to 6.68 billion US dollars.
With the traditional money market facing an imminent recession and coming to a halt, investors are increasingly looking for alternative avenues to invest.
Crypto Market Gaining Momentum Again
Given the momentum that ‘digital’ has gained in the days of physical distancing and frequent lockdowns, digital currencies have become a lucrative option like never before. Popular cryptocurrencies are shattering their own records. While Bitcoin had surpassed the barrier of $18,000 in price, Ethereum has seen a four-fold jump in its prices this year, and XRP’s price has doubled in November alone.
Interest in crypto-investments is helping catapult the crypto-market even higher. One of the most successful ways so far has been the attempt to merge the traditional with the new, expanding the services of crypto to include conventional investment instruments. Synthetic asset platforms such as Abra, Synthetix, and UMA are providing ways to trade in stocks, commodities indexes, and forex without the investor having to leave the DeFi ecosystem. This proves that a combination of new and conventional investment instruments can prove successful.
At the same time, only a few crypto-trading platforms have been truly successful at offering both forex and crypto-trading services. There is just a handful of them like Liber Ltd, PrimeXBT, among a few others who have achieved success in this space. Let’s take a look at one of them to understand how they have made their presence felt in both crypto and forex markets.
Liber Ltd – Leading in Both Forex & Crypto Markets
Some platforms are active in both the realms of traditional trading and the crypto-trading market and are in constant pursuit of bridging the gap between the two. Liber Ltd. provides a platform for online forex trading. As a global forex broker, one can leverage the platform of Liber Ltd to open a live trading account in minutes and get instant access to real markets. Like the other well-known trading platforms, Liber also equips the investor with technical and fundamental analysis and 24 hours support on each of the five weekdays the markets are open across the world.
At the same time, Liber exchange officially issues its native crypto LIBFX token to garner support from the crypto-ecosystem and expand the market for the Liber exchange platform. Merging the traditional with the new, Liber Ltd, through its Libfx token, has successfully managed to introduce a set of protocols that offer a decentralized, low-cost, transparent, and secure trading experience to Forex. To make it more expansive, the LIBFX supports payment by two of the most popular cryptocurrencies in the DeFi world: BTC and ETH. Investors earn monthly returns based on the volume of tokens owned. Afterward, one can also convert Libfx tokens into BTC.
A Lot More to Come
In the days to come, Liber Ltd. is planning to expand its services to offer more traditional investment instruments on the trading floor. This includes indexes, stocks, bonds, cryptocurrencies, et al. Going further, the company is also planning to announce an IPO in the New York Stock Exchange. The owners of Libfx tokens will have the exclusive right to purchase Liber Ltd’s stock once they are listed.
Libfx tokens are developed on Ethereum and follow ERC-20 standard protocols. The total supply of Libfx has been fixed at 35,000,000 or 35 million tokens. To make these DeFi tokens an integral part of Liber’s traditional trading services, the platform allows using them as a payment method on the trading floor. Those charging by Libfx tokens would also be incentivized by special promotional packages.
A Perfect Combination of Traditional and the New-age Ecosystem
Companies such as Liber Ltd are bringing the traditional and new ecosystems closer each day. Economical transaction fees combined with the sophisticated technology paradigms of AI, Big Data, and Blockchain are pushing such companies to the forefront. However, it would be ignorant to discard the role of strong fundamentals and the young and dedicated teams that these types of platforms come with. Overall, by 2022, Liber Ltd is expecting to have 2 million users on its platforms.
At this juncture, one can reasonably expect the benefits of decentralization would encourage a global community of investors to come and invest in both the worlds of finance. There is abundant hope that crypto-platforms will embrace traditional investment instruments and make it a win-win for everyone in the days to come.