Investor: Ethereum Is Poised To Replace Wall Street’s Archaic Back End

Tony "The Bull" Severino

5 years ago

3 mins read

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Ethereum has been among the frontrunners in the crypto market in terms of year-to-date performance. The number two cryptocurrency rose over 100% at the start of the year, fueled by the rapid growth of the decentralized finance movement.

The smart contract-based cryptocurrency is showing so much promise in the category, that one analyst believes that it will eventually replace Wall Street’s aging backend with its neutral settlement layer.

ETH Kicks Off 2020 With Strong Rally Following DeFi Milestone

Ethereum has been one of the best performing cryptocurrency assets of 2020. And before the coronavirus outbreak and stock market collapse set the entire crypto asset class back, the largest altcoin in the space had an ROI of 100% year-to-date.

But a fear-driven sell-off has pushed Ethereum prices back to yearly lows, and because a recession may be around the corner, these new assets are taking a serious beating.

However, Ethereum may have significant long-term value that will help the cryptocurrency survive whatever is to come in the financial world.

Although Ethereum is a cryptocurrency like Bitcoin, it shares only a few similarities. Bitcoin is designed for payments, storing wealth, and transferring said wealth.

Ethereum, however, is a smart-contract platform with nearly infinite potential use cases.

During the crypto hype bubble, Ethereum was used to launch initial coin offerings, helping to drive it to an all-time high price of $1,400.

But once that use case dried up, Etheruem’s value fell.

The enormous growth in the decentralized finance movement, however, has revived interest in Etheruem, and given it its best potential use case yet: replacing Wall Street’s back end.

How Ethereum Could Replace Wall Street’s Aging Back End

In a groundbreaking first, a $40 million dollar bond was issued on Ethereum as part of a capital infusion into the Fatburger restaurant brand.

The deal also marks the first time that investment ratings firm DBRS Morningstar has ever rated securities issued on a blockchain. These securities are “digital representations” of ownership, coded via smart contracts.

Not only does the blockchain digitally provide a record of all transactions, but Ethereum is also now infused into the Bloomberg Terminal allowing anyone to look up who the company’s securities holders are, and quarterly interest payments are even issued directly from the Ethereum blockchain and into a wallet.

Last week a $40m bond was issued on Ethereum

$500m more in the pipeline

The bonds are tokens

Interest paid via stablecoin to Eth address

Bloomberg terminals integrated with Ethereum

Ethereum will replace Wall Street's backend w/ its neutral settlement layer

Just watch

🚀

— RYAN SΞAN ADAMS – rsa.eth (@RyanSAdams) March 10, 2020

According to the founder of Mythos Capital, another $500 million in bonds are in the pipeline for Ethereum and says the trend is likely to continue until the number two cryptocurrency completely replaces Wall Street’s back end.

Doing so could help Ethereum set a new all-time high in the months ahead as DeFi continues to grow.

Featured image from Shutterstock

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.