Nagaya Technologies

The Cryptocurrency space has grown rapidly over the years, reaching new heights in its market capitalization (market cap) and generating more adoption from keen holders. While
all these look great at a glance, the Cryptocurrency space has also been plagued by speculation, market volatility and scams. This is because this space has been dominated by coins that claim to have the next breakthrough technology but do not have the fundamentals or the utility to back them up. Worryingly for most of these coins, they do not have any use case and depend mainly on the community or outside influence to drive their value. It will only be a matter of time before the demand from the community dries up or a negative influence will cause the coins to lose their value and eventually affect their performance over the long run. Data from coinmarketcap.com shows that over 90% of Cryptocurrencies are losing their value and amongst the top 100 Cryptocurrencies listed, there is less than 50% that provide real value or utility to their users. Cryptocurrency is created with a vision, to solve a massive global challenge. Utility is the core criterion in differentiating crypto that has a clear long-term plan going forward from the ones that exist as a speculation tool. Utility in the Cryptocurrency space, as the word suggests, is the use case of Cryptocurrencies or the challenges they are trying to solve. As mentioned before, in this space you will see a lot of coins with inflated or manipulated market value. However, a real market value will emerge when these major problems are resolved.