Ran NeuNer: Cryptos Are 'Here to Stay,' Talk of Industry Collapsing No Longer an Issue

Ran NeuNer, the former host of CNBC’s popular Crypto Trader show, has said that Bitcoin (BTC) and other cryptocurrencies may no longer be considered a “bubble.”

NeuNer, the co-founder and CEO at Onchain Capital, a fund management business focused on helping investors gain exposure to digital assets, remarked (via Twitter): 

Even if [crypto] was a bubble last year, I’ve never seen a bubble pop twice.

“Talk Of Cryptos Collapsing Is A Thing Of The Past”

NeuNer added that digital assets are here to stay and the “talk of” cryptocurrencies “collapsing are a thing of the past.” According to NeuNer’s assessment, “everyone knows” cryptos are on track to become a legitimate asset class.

He went on to suggest that CNBC should be “smarter in their selection of guests and articles.” Notably, NeuNer also retweeted a recently published article on CNBC which has been heavily criticized by members of the crypto community. The article, titled “Don’t Buy Bitcoin, Warns Wealth Manager,” has not been received well by those involved in the blockchain space because it seems to make inaccurate statements about cryptoassets.

For example, the article contains a quote from a financial analyst who states that “you get no income” from holding cryptocurrencies as they are “not real” investments. As those who’re following developments in the crypto industry would know, many traders and investors have now profited from investing in various initiatives in this space.

BlockFi, Nexo Allow Investors To Earn “Real Income”

Although not every business has been successful, several new crypto products have been introduced that allow investors to generate passive income from their investments. For instance, BlockFi has launched an initiative that allows investors to make deposits in major cryptocurrencies such as Bitcoin (BTC) and Ether (ETH). Investors receive up to 6.2% interest (per annum) on their deposits (subject to certain conditions).

This interest rate is significantly higher than what investors would earn from US Treasury Bonds and similar investments in the traditional financial sector. Other companies, such as Nexo, also allow users to participate in a crypto-related lending program. While both Nexo and BlockFi can still be considered startups, they are offering unique opportunities to investors.

Introducing A Technologically Advanced Crowdfunding Method

Additionally, crypto platforms such as Ethereum have allowed companies to launch crowdfunding campaigns by conducting initial coin offerings (ICOs). Although many of these were scams, ERC-20 tokens have introduced a new way of launching fundraisers for startups.

Wences Casares, a Bitcoin pioneer and the founder of Xapos, a leading crypto cold storage solution provider, has argued that it would still be irresponsible to not acknowledge that the digital asset and blockchain space is still in its early stages. Casares believes there still might be a chance that the crypto experiment could fail, however he believes the chances of it succeeding are far greater at this point.

Travala’s Token AVA Jumps Following Announcement of Partnership with Expedia

Michael LaVere
  • Binance-backed cryptocurrency travel booking platform Travala has announced a partnership with Expedia Group.
  • Travala's native token AVA appreciated more than 20 percent following the announcement.

The Binance-backed travel booking website Travala has announced a new partnership with the online travel agency Expedia Group. 

According to a press release published July 6, Travala and Expedia have joined forces to offer consumers a frictionless cryptocurrency travel-booking experience. The release claims more than 700,000 Expedia Group hotels and accommodations have been made available via Travala.com, in addition to the platform’s existing 2 million hotels across 230 countries. 

Juan Otero, CEO and co-founder of Travala, said the new partnership reflected the rise in popularity for cryptocurrency. He also explained that consumer travel was on the rise following months of COVID-19 imposed shutdown. 

He said:

Our latest month-on-month data shows consumer confidence and the desire for travel is returning, with an 81% increase in room nights booked and website traffic up 50% week-on-week.

Binance CEO Changpeng Zhao said Travala had proven its ability “to build a world-class travel booking platform” and was excited by the partnership with Expedia. 

AVA, the native token for Travala, underwent a subsequent price increase following the announcement. As of writing, the coin has appreciated more than 20%. 

Altcoins Move up as Bitcoin Stalls

The AVA token is not the only in the cryptocurrency space growing exponentially so far this year. While the price of bitcoin has been range-bound moving between $9,000 and $10,000 since the beginning of May, various altcoins have been moving up.

Over the last 6 months, the price of BTC is up little over 13% according to CryptoCompare data, while other altcoins have been moving up. Most of these are related to the decentralized finance space, or to blockchains launching new products or announcing specific partnerships.

VeChan's VET, for example, surged after it was announced VeChain was attending the World Artificial Intelligence Conference 2020, hosted by the Shanghai Municipal People's Government. The conference will also be attended by Microsoft, Alibaba, Tencent, Huawei, and Amazon. One VET is changing hands for $0.0148, up from $0.,0055 in January.

As CryptoGlobe reported, Kyber Network's KNC tokens have risen over 650% year-to-date thanks to the upcoming Katalyst update, which will allow token holders to earn ETH rewards while participating in governance by staking their tokens. 

Another altcoin that moved up significantly is OKEx's OKB cryptocurrency. The token, which gives various advantages to the bitcoin exchange's users, is up 74% over the last six months, going from $2.78 to $5 at press time.

day_CryptoCompare_Index_OKB_USDT_231_11594045158429.pngSource: CryptoCompare

OKEx's OKB isn't tied to decentralized finance protocols, which Waves CEO Sasha Ivanov warned could be turning into the  next ICO bubble, but is instead tied to one of the leading crypto exchanges in the world. 

Decentralized finance protocol Aave has also seen the price of its LEND token surge so far this year. While in January the tokens were trading at $0.017, they are now $0.175 -- a 750% increase.

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