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Bitcoin ETF Opens The Door For Institutional Billions. Here’s Why Analysts Are Bullish On This Enterprise Token

12 January 2024 15:06, UTC

Bitcoin ETFs are talk of the town for several past months and finally they are approved. Broader cryptocurrency market was anticipating the approval and positive sentiment spread all over. Global cryptocurrency market cap surged 4% to accumulate $1.77 Trillion till date. Bitcoin (BTC) sustains a high of more than $47K following a 10% jump in a week. Other crypto assets are likely to follow the leading cryptocurrency and Morpheus.Network ($MNW) is catching attention of analysts.

With institutional capital opened after Bitcoin ETF approval, the broader cryptocurrency market may also benefit. The industry has a lot more to offer given blockchain technology’s other use cases such as in supply chain.

Morpheus.Network is leading the enterprise blockchain adoption with the intention to resolve the inherent issues in supply chain and logistics in global trade. Enterprises across various sectors, including banks, corporations, governments, and institutions, are displaying a growing eagerness to delve into the potential of blockchain and the capabilities of cryptocurrencies.

The shift towards blockchain adoption is particularly notable, with initiatives like JPM’s Onyx blockchain, PayPal’s stablecoin launch, Starbucks’ NFT loyalty program, and Walmart’s blockchain-based food tracking gaining prominence.

Amid this transformative landscape, Morpheus.Network is emerging as a leader in driving this change. With an extensive network of over 100 integrations and collaborations with tech giants, including FedEx, IBM, and Oracle, Morpheus.Network is at the forefront of facilitating blockchain adoption in the logistics and supply chain sector.

Blockchain projects including Chainlink ($LINK) also working making the difference in the domain bringing Oracle abilities. With these Oracle, blockchains receive the real-time and -world data which makes the process efficient and smooth. Projects like Polygon ($MATIC) are dedicated to resolving the scalability and infrastructure development issues. Filecoin ($FILE) focuses on bringing data and information to blockchain making its handling more democratized.

However, as enterprises increasingly recognize the benefits of blockchain technology, Morpheus.Network’s partnerships and solutions position it as a key player in spearheading this transformative shift. In comparison to any other masternodes across the blockchain space, Morpheus.Network provides the highest APY of 18%. For instance, rewards for running a masternode on Dash ($DASH) is 7%.

$MNW Token Brings Passive Income Opportunities

The idea of passive income became quite popular in the past several years. It triggered after many wealthy people around the world revealed it to be one of the secrets. Though crypto emerged as a means of transactions, it soon became a yet another medium to generate passive income, especially with crypto staking. With the blockchain technology’s development, today more sophisticated mediums are available than ever.

Crypto staking came into existence with the concept of proof-of-stake (PoS) blockchain networks. These blockchains use to offer rewards to crypto holders in exchange for staking their crypto assets. The crypto staking could work differently according to the requirements of blockchains and protocols.

Validators, those who validate transactions on blockchains, are made eligible after they deposit a certain amount of crypto staked. In addition, the crypto stakers can also become liquidity providers on the platform. The assets can also be staked for lending protocols. All these methods are quite popular around crypto space. Many investors actively participate in staking and generate annual percentage yield (APY).

Initially the blockchain networks, such as Bitcoin ($BTC), were meant to perform the transactional tasks. They used to have a certain transaction speed done and it takes fixed block finality time to ensure decentralization. However, later when more people started onboarding the blockchains, it resulted in congestion and the transaction fees hit insane highs.

In Morpheus.Network’s case, these nodes are crucial for the decentralization of the supply-chain platform. Participants running nodes, especially in the proposed roll-up network, help secure the network, validate transactions, and contribute to the overall reliability of the system. These nodes play a role in achieving a more decentralized and tamper-evident logistics service. The rewards for node operators include $MNW tokens, creating an incentive system for active participation in the network.

$MNW holders need to stake 1,800 $MNW tokens to run a single node and it increases in order to acquire more nodes. But there’s also a cap on the maximum number of nodes to ensure decentralization. A node operator can run a maximum of five nodes staking 360,000 $MNW tokens.

The node operators, or the investors staked $MNW tokens, receive up to 18% APY on their staked crypto assets. The earnings are more attractive when compared to the staking rewards offered by numerous leading cryptocurrencies. For instance, Ethereum ($ETH) provides a staking reward of 2.5%, Solana ($SOL) offers 5%, and Avalanche ($AVAX) gives 8%.

$MNW token currently trades at $1.2 and it is up by 17% in the yearly time frame. The value of the token has seen an all time high (ATH) of over $4. Current trading price is almost 90% down from the ATH due to recent crypto winters and bleak macroeconomic situations. $MNW is expected to rally as the broader cryptocurrency market enters the next bullish cycle likely by the end of 2024.