Did You See This Crypto Report?? FULL Breakdown!!
📈The Rise Of Bitcoin📈
Since 2011, BTC has gone up by more than *twenty million percent*, outperforming every other investment vehicle in existence during that time Bitcoin’s market cap also recently exceeded 1 trillion, which would make it the sixth largest company in the world by market cap, beating Facebook by a few hundred million dollars More importantly, Bitcoin’s market cap is about 1/10th of the market cap of all the gold in circulation This is significant because BTC is likened to digital gold since it derives much of its value from its scarcity and maximum supply of 21 million
💲The Rise Of Stablecoins💲
Stablecoins have also seen record growth over the last few months, with their collective market caps more than doubling from 30 billion to over 60 billion dollars Although most of this market cap gain came from Tether’s USDT printer, USDT’s dominance as the top stablecoin seems to be coming to an end The market cap of Circle’s USDC stablecoin is growing at twice the pace of USDT’s, and this has been the case for quite some time. BUSD is also growing rapidly, but the largest growth is coming from UST
💱The Rise Of DeFi💱
The total value locked in DeFi across all cryptocurrency blockchains recently breached 100 billion US dollars, a 5x increase since Jan About 60% of this TVL is on Ethereum, 35% is on the Binance Smart Chain, and the remainder is scattered across other blockchains like Terra, and Ethereum layer 2s like Polygon and xDai
😻The Rise Of NFTs 😻
The market cap of all NFT related cryptocurrencies currently sits at 30 billion dollars The trading volumes on NFT marketplaces like Rarible and and Opensea has gone up by nearly 20x since the start of the year, topping 200 million dollars in March Cumulative sales for NFT collectibles from NBA Topshots, Cryptopunks, and Cryptokitties was over 700 million during the same period If you include other prolific NFT sales like Jack Dorsey’s first tweet, this cumulative sale figure goes well above 1 billion dollars Jack’s 2.9-million-dollar tweet pales in comparison to the most expensive NFT sale, which was Beeple’s collection of his first 5000 works that sold for nearly 70 million US dollars at a Christies
⚖The Fall Of Regulations⚖
Recent events (ETFs, Visa partnership, China unbanning crypto etc.) suggests that cryptocurrencies will not be met with harsh regulations unless they begin to threaten a government’s monopoly on money If anything, it appears that governments are both able and willing to put up with this continued growth and might even be interested in accelerating it if it means they get a tax cut of our hard-earned gains Besides, governments need people in the crypto space to do the work so they can copy it to build their central bank digital currencies.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.