RATE Group | VeChain Founder Says 99% of Cryptocurrency Price Is Speculation
69203
post-template-default,single,single-post,postid-69203,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

VeChain Founder Says 99% of Cryptocurrency Price Is Speculation

19 Nov VeChain Founder Says 99% of Cryptocurrency Price Is Speculation

Posted at 23:30h in Cryptocurrency News by

[ad_1]

Nearly all of cryptocurrency valuation is tied to speculation, according to founder of VeChain, differentiating the space from adoption-focused projects such as Dash.

As reported by Cointelegraph, blockchain project VeChain’s founder and CEO Sonny Lu recently opined at BlockShow Asia 2019 that most projects in the space show very little usage outside of speculative trading, resulting in excessive focus on generating funding rather than on delivering and applying viable products:

“99% of a [cryptocurrency’s value] is linked to speculation, and not to the value that solution can bring to society. This causes many startups to waste a lot of time producing and ‘selling’ the token, failing to develop solutions for where they were initially focused.”

This is not an uncommon opinion among top professionals in the blockchain space beyond those expressed by VeChain’s founder. Earlier this month, Ripple’s CEO Brad Garlinghouse stated a similar opinion, saying that…

[ad_2]

Source link

Tags:
, , , , ,