This was a photo from yesterday on the New York Stock Exchange floor and you could not get a better advert for your blockchain. If this did not spark a major pump then nothing will.
You know the crypto market is not ready for any type of upwards movement when you see an announcement this positive with AVAX being the selected blockchain for the New York Stock Exchange. The NYSE announced they will be using AVAX for clearing and settlements.
The strange thing is this is actually big news for crypto and AVAX yet AVAX had a mini pump of around 12% and is now struggling holding a 6% gain and it will be over and business as usual. If this was 2021 this would have been a 25-50% pump because of how big this news is. AVAX has dropped around 28% over the last month even with all the good news of the various partnerships announced at the end of September. Those were big news items yet the price has been on a decline and nothing seems to be able to hold the slide.
I have been looking into a few crypto protocols for investment purposes being AVAX, LINK and NEAR and I am still uncertain which one is the better one for now. I think one cannot make a mistake on either one as I expect them all to do well in the years ahead. Use cases is what I am looking for and need to understand more how each blockchain generates revenue fees for their burning mechanisms.
I am not sure what benefit this is for AVAX besides the use cases as this will be settled using stable coins and not AVAX. The NYSE mentioned that stable coins would be used so the volatility associated with crypto would not be a factor. How would AVAX generate fees through validation as one would think somehow there has to be a financial benefit even if they do not use the AVAX token. This is most likely the reason why the price did not pump like one would expect as there seems to be no real value added to the AVAX token.
COTI is providing privacy on demand (POD) on AVAX so my thoughts are AVAX has had so many big announcements lately and this is no coincidence these have all happened after COTI integrated the privacy technology. This has to be all linked because privacy is going to be a very important part of any crypto transactions in the future.
COTI has been dead quiet recently which is probably a good thing as we know they have the tech and are busy implementing their tech or working through implementing the tech across the blockchains they listed last month. I would rather here the news as they were rolling it out than useless updates repeating the same news each time offering nothing.
In crypto there is too much shilling of old news being reused or recycled over and over and it kind of gets tiresome for those that stay up to date with their investments. Rather keep quiet until you have news to announce because there is so much negativity in this space lately.