Home Altcoin Ian King Introduces the CryptoCorns

Ian King Introduces the CryptoCorns

Ian King and the arrival of the Cryptocorns
After the bitcoin boom we are now experiencing the arrival of the cryptocorns. Financial expert Ian King explains.

The word “unicorn” has its place outside of the many mythical stories that you may have read to your children. In the financial industry, a unicorn is a startup venture that can boast of a $1 billion valuation, and it used to be a veritable rarity.

At the present time, these types of startups aren’t that unusual anymore.

All over the world, 276 of these companies have been labeled as “unicorns,” and most of us have heard of them. They include Uber, Dropbox, Airbnb and Pinterest. These four unicorns had an aggregate investment of $200 billion, and they carry a $967 billion market valuation. This amounts to a 400 percent return, and it has only been a couple of years.

These 400 percent returns do not exist in the average brokerage account. These returns are solely the property of venture capitalists and those with investment accounts that are worth millions and billions of dollars.

While average investors have not been taking part in the fabulous success of the markets, something else has been happening in their worlds. When companies like Snapchat and Blue Apron made their way to the public market where smaller investors began to purchase and sell their stocks, these companies were on their way down. Therefore, the smaller investors came out on the losing end as these stocks lost 50 percent and 65 percent of their original value.

It isn’t surprising that people are looking forward to the next big thing so that they can take part in large gains again.

Why Pay Attention to Ian King?

Ian King has been trading in the financial markets for the past 20 years. He is currently a cryptocurrency trader, and his knowledge on the subject has impressed others. One of them is Investopedia. The people behind Investopedia asked him to be one of their contributors, and he has risen to the top of the website’s list of top contributors. He also invented a program that helps people understand the world of cryptocurrencies like bitcoin, ripple, litecoin, monero and others.

Ian King joined Banyan Hill in 2017 as a contributor to increase his reach as a teacher in the cryptocurrency world, and he plans to take this endeavor even farther. Currently, Ian King is creating a crypto trading course and investment advisory for the readers of Banyan Hill. As if that wasn’t enough, he will also be launching a trading service later this year.

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CryptoCorn Is Here

Bitcoin is the cryptocurrency that receives the most press, but it isn’t the only one that uses the blockchain technology.

Last year, bitcoin recorded gains of 1,485 percent, but ethereum is the decentralized platform that shot up to 12,822 at the exact same time. In 2013, 19-year-old Vitalik Buterin created ethereum, and the ethereum platform now governs the production of a total of 1,000 new blockchain projects.

Entrepreneurs have been busy searching for new ways that the innovative technology of blockchain can solve the problems of the world, and non-traditional investors are infusing capital into these new ideas.

Investors are clamoring for new projects, but the demand is much greater than the supply. This situation has set up the components needed for a financial frenzy.

Currently, investors believe that they will be where they need to be to get in on the ground floor of the “next big thing,” and it is causing market prices to rise like they never have before. This situation has created a new startup unicorn, and it is called the “CryptoCorn.”

The last time it was checked, there were 41 blockchain projects, and they were valued at more than $1 billion. Last year, bitcoin was the only one that could be considered to be a verifiable CryptoCorn.

The crypto market share for bitcoin has decreased to 33 percent after it rose to 90 percent in the last year. This happened after bitcoin cash, litecoin, ripple and ethereum came out of and started to give bitcoin a run for its money.

Altcoins, alternative cryptocurrencies, are a big deal on the market stage. They came into being with the introduction of the “initial coin offering” or ICO, and they allow the stock market to have a combination of initial public offerings and venture capital.

In the beginning of 2014, there were 64 altcoins, but in 2018, there are 1,398 according to CoinMarketCap.com. The total market capitalization of altcoins also increased last year. It grew from $2.2 billion to more than $500 billion.

Investors taking part in crowdfunding campaigns are trading their ethereum or bitcoins for the newer cryptocurrencies that they take to the altcoin network to enact anonymous transactions, rent computational power and trade storage space.

People like ICOs because investors can be involved with startup companies while they have public market liquidity. Until a couple of years ago, it wasn’t possible for investors to access tech startups, and this was unfortunate because a majority of the growth occurred within these companies. That was why the venture capitalists were the only ones who could invest at the earliest stages.

Now that so many new investors have been able to get into the game, the three top exchanges aren’t bringing in any new investors right now. The announcement came after the Binance exchange that is based in China announced that it would open 250,000 new accounts each day.

The altcoin market probably has the equivalents of Google and Amazon during the 1990s when the bubble was being created. It might even have more duds than the market of the 1990s had.

For more information on altcoins, bitcoins and all the new crypotcorns, connect with Ian King on Facebook, Twitter, or Tumblr.