What is Jugdab Coin (Can Jugdab Coin Succeed)?

What is Jugdab Coin? In the traditional financial market, the value of currency is determined by the issuer (holder) and user, so people have different opinions on currency. With the development of blockchain technology and the emergence of more mainstream applications, encrypted digital assets have gradually been recognized as an effective payment tool, which is different from the fiat currency exchange method we are accustomed to. To solve this problem, many people have adopted Ethereum as a medium of transaction settlement. But what if we want to use Ether? In simple terms, it can be divided into three scenarios: the first is to achieve decentralized stablecoins through smart contracts on the Ethereum network; the second is to directly distribute one’s own tokens to users or other investors, such as exchanges or individuals. However, for most investors, they do not know how to obtain these tokens. So often, when you want to buy Bitcoin, you have to consider buying it because it is built on an open network, does not require third-party involvement, and since each user’s account is limited, it cannot guarantee security or allow you to have private keys, mnemonic phrases, etc. So we need a decentralized application platform – KEEP.

According to official introduction, there are currently more than 20 applications running DApps and developing related functions in the market. These include some decentralized exchanges. For example, Bitfinex and Tether, which provide stablecoin services. In addition, K Epic is also an internationally leading encrypted digital wallet company, and its products and services were officially released in July 2020.

Can Jugdab Coin Succeed?

Editor’s note: This article comes from Fendou Finance News (ID: fengchao-caijing), author: Kyle, authorized reprint of Odaily Planet Daily.

Foreword:

If Bitcoin is the future of currency, then over the past few decades, it has become a store of value; but for those who want to invest in digital assets, this seems to be bad news; and now there are a group of people in this world who hope to invest in this way.

So I think we can evaluate why the current “Jugdab Coin” cannot succeed from two macro perspectives.

1. Currently, there are mainly two types of investors in the market who believe that this exchange will outperform the market, and it is also a very small token. They all invest through over-the-counter trading and OTC platform funds for purchasing cryptocurrencies. One reason is to attract more retail investors to participate in the market, rather than investing their own funds.

2. The current market has low liquidity, and incremental customers are unwilling to accept this project. For example, institutions like Ripple may convert their cash into stablecoins and use them as settlement layers, thereby avoiding selling their cash due to risk concerns. Some companies also prefer to transfer cash to other people’s accounts or return it to them. In other words, they will to some extent promote the growth of circulating market value. However, these companies do not fully control the source of their funds, but choose to convert the cryptocurrencies they hold into stablecoins, enter and exit exchanges, and then cash them out.

3. “I feel strange that many traditional financial institutions are beginning to consider Ethereum or Litecoin and other digital assets.” A person close to Wall Street said, “Many people are paying attention to the price fluctuations of Bitcoin,” he added, “People always ask, since Bitcoin has not risen, why should you invest?” According to information disclosed by the US Securities and Exchange Commission (SEC), the premium rate of GBTC under Grayscale reached as high as 95.9%, while PAX fell by only 0.38% during the same period – in contrast, the premium rate of Ripple reached about 99.5%. “I think this problem is difficult to solve.” Another well-known insider in the industry said that although only about 1% of the institutional purchases are generated by Grayscale’s trust holding, the GBTC price is still far below expectations.

4. “When Bitcoin breaks through its historical high, the entire industry will face a major adjustment.” It is reported that as more and more companies around the world seek alternatives to the US dollar, more and more banks are also trying to use blockchain technology to help traditional companies achieve digital transformation and create new business models. In addition, some insiders of large technology companies are also preparing for blockchain-based new services and products, such as Microsoft, Apple, and Google Cloud, etc.