In comparison to other coins, three cryptos are now the heat of every crypto conversation. IMF recently posted an interesting video tweet wherein they clarified how cryptocurrencies could be a solution to finance problems around the world.
There are three major roles IMF is responsible for. Surveillance, wherein economic and financial developments are being monitored, and the provision of policy advice aimed especially at crisis-prevention comes first. Second, IMF gives temporary financing and also supports policies aimed at fixing the underlying problems to countries with payments problems. Lastly, technical assistance and training in areas of expertise are being provided by IMF to different countries.
IMF, out of all the other cryptocurrencies, only mentioned three coins namely the BTC, XRP, and ETH. The most probable basis for why they are the only ones mentioned among others can be because of the performance each has impacted in the market and how swiftly institutions and investors are adapting to and adopting the currencies.
1. Ripple (XRP)
Ripple, in the past few months, has been adopted by more than 100 banks all over the world and there’s no denying that the list is continually growing. Just recently, one of the largest banks in Kuwait partnered with XRP, indicating the entrance of the coin into the Middle East.
Also, IMF recently quoted in a publication that Ripple is one of the possible solutions to enhance efficiency in finance. The future of XRP is looking bright, as per the positive indicator, in the finance industry. This feedback is good for the long-term value of Ripple (XRP).
2. Ethereum (ETH)
ETH is developing exceptionally ever since its initiation. Despite the challenges that ETH is facing, most specifically in speed and scalability, approximately 30,000 people participated in ETH user-base just within a month.
This gives ETH blockchain a chance to put their best foot forward in the platform of the blockchains space. Other platforms can only go past them if and only if they can grow faster than ETH and that’s not an easy thing to do as contemplated. Vitalik Buterin, the founder of the coin, mentioned that the platform would be using Sharding and Plasma technologies to solve the scalability issues ETH is facing.
3. Bitcoin (BTC)
The big bull and king of crypto known as Bitcoin is slowly taking the form as digital gold. Just not long ago, BTC increased in value while other cryptos or altcoins were decreasing, following political dilemma in Italy. This is a telltale sign that the coin has a probability to become a fallback secure asset in case of a global financial crisis. This is what gives Bitcoin a positive vision regarding the future growth.
This news, together with the credentials of each coin, can automatically attract any investor. Cryptos not mentioned should still be thankful as the endorsing of the three cryptos will also help them be advertised. IMF considered that the cryptos mentioned above have the potential to change the world.