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Indonesian Cyrpto Asset is Evolving

The development of the crypto asset industry in Indonesia is increasing. This is also followed by enthusiasts from the buyers. It’s not impossible for future generations took advantage of this development by creating their own crypto assets.

The number of domestically made crypto assets continues to grow, recently the investment application Nanovest has launched a crypto coin called Nanobyte (NBT).

Nanovest and NBT itself are supported by the Sinar Mas Financial Group as a backup company. Referring to the Litepaper, NBT was created as a bridge between crypto-assets and traditional currency systems.

One way is to create a crypto wallet that is linked to FIAT currency products such as electronic money, credit cards, insurance, and other investment products.

Besides NBT, several other local crypto assets that are already quite popular are Tokocrypto’s Toko Token (TKO), Tadpole (TAD) from Indodax and Tokenomy, Zipmex’s ZMT, botXcoin (BOTX) developed by PT BOTX Technology Indonesia, etc.

If you refer to Coinmarketcap.com, TKO has the highest rating, occupying 363 with a market cap of 157 million US dollars. Followed, TAD is ranked 1,590 with a market cap of 2.23 million US dollars. Then, for BOTX it is ranked 3,307 with an estimated market cap of 2.98 billion US dollars, while for ZMT it is ranked 4,018 and is projected to have a market cap of 129 million US dollars.

Still from Coinmarketcap.com, in terms of trading volume in the last 24 hours, TKO is also the largest at 40 million US dollars. Followed by BOTX which in the last 24 hours traded as much as 1 million US dollars.

Meanwhile, TAD and ZMT traded as much as US$46,622 and US$226,324 respectively in the last 24 hours. President Commissioner of HFX International Futures, Sutopo Widodo, said that there are more and more local creators who make crypto-assets actually hold great potential for the future.

After all, digitization and the development of existing technologies will form the backbone of crypto assets, and what these local crypto makers are doing is part of the process to achieve that goal.

“It also makes the industry more competitive and creates a ‘level playing field’ which is a good thing. It’s just that what can survive and exist is a critical asset that has a good system and a strong community,” said Sutopo to Kontan.co.id, Friday (12/3/2021).

In line with Crypto Asset Observer and Investor Vinsensius Sitepu Kripto, the emergence of domestic crypto assets is a good sign.

With more innovative developers to attract the attention of new traders and investors, the impact is that the fierce competition will develop the use cases of each crypto.

It is quite difficult to see the long-term prospects of these assets. The reason is, all crypto assets that exist both as a product and a utility, are very dependent on the use of the crypto itself.

In other words, its breadth and value also depend on the number of users. According to him, one of the indicators that can be taken into consideration is if there are many users and accompanied by a large volume and the utility sector is also good, then this can be a good basis for consideration.

Traders and investors should remain cautious and put on a first skepticism of existing crypto assets, including locally made.

Start by carefully studying the potential, whether there is a potential scam or not, and make sure the crypto market is also liquid, making it easy to sell and buy.

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