Bitcoin, Ethereum, Crypto News and Price Data


That complete cycle crescendoed coming into March, April and May of final yr, and since then, we’ve been preventing a by no means ending tidal wave, it appears, of FUD, proper? We’ve had China FUD, regulatory FUD, Tether FUD, all the time Tether FUD one way or the other, and so on, and so on, and so on. But that’s been type of the bitcoin aspect of the story. However, whilst these hedge funds had been beginning to get actually enthusiastic about bitcoin, and how bitcoin could be a hedge towards rampant authorities printing and no matter was to return subsequent, we had been additionally within the midst of “DeFi Summer,” the place in the beginning of the summer time 2020, there was lower than a billion {dollars} in worth locked in DeFi. That grew and grew and grew and grew till right here, a yr later, we’ve got greater than $80 billion locked in DeFi on Ethereum alone, the massive explosive months had been actually these summer time months. And I believe you may make an argument that it was actually the proceeds from DeFi Summer that helped gas the primary section of the NFT increase that occurred in the direction of the top of the yr, and then had its personal crescendo in round March of this yr, 2021. Now, like I mentioned, this stuff are blurry, there’s commingling, there have been loads of DeFi buyers who had been additionally loading up on bitcoin, there was in all probability loads of bitcoin revenue that went into NFTs, no less than from the merchants. And I believe generally, it’s price asking about zero-sum pondering because it pertains to crypto markets.