Read on Twitter
China's government run media analysis: The growth of #DeFi is the reason that crypto and especially Ethereum has grown 100%+ YTD.
If you think China's only focusing on their own digital currency without knowing what's happening in the rest of cryto, think again.
1/ https://twitter.com/mattysino/status/1309535338725998592
If you think China's only focusing on their own digital currency without knowing what's happening in the rest of cryto, think again.
1/ https://twitter.com/mattysino/status/1309535338725998592
Reason #2 why they think crypto is booming: "Because of COVID19 and the shocks to the global economic system, more USD may be printed that leads to inflation. Supporters say that Bitcoin and crypto generally act as a hedge against inflation."
Full translation
3/
Full translation
3/
Male Anchor: Although gold has grown rapidly this year and garnered much media attention, in terms of return on investment, cryptocurrencies not only beat gold, but may have been the best investment this year.
3/
3/
Female Anchor: Due to various influences, the crypto market is warming up again, though the asset remains volatile. Let's take it to CNBC's Wen Duo from Singapore to learn more.
4/
4/
Wen Duo: The entire crypto market has grown close to 70% this year. In comparison, gold has only grown 20%. Cryptocurrencies not only beat out gold, but most global stock markets. If we only look at return on investment, crypto is one of the best performing assets this year.
5/
5/
Wen Duo: Perhaps the fastest growing asset within crypto is Ethereum. According to CoinDesk, Ethereum has grown 196.4% this year. Bitcoin in comparison has grown 49.48%.
6/
6/
Wen Duo:
Growth in DeFi, or decentralized finance, is one reason crypto has been growing. Cryptocurrencies is an important tool in DeFi.
7/
Growth in DeFi, or decentralized finance, is one reason crypto has been growing. Cryptocurrencies is an important tool in DeFi.
7/
Wen Duo:
Another reason is because of COVID19 & the shocks to the global economic system, more USD may be printed that leads to inflation. Supporters say that Bitcoin and other crypto tokens act as a hedge against inflation.
8/
Another reason is because of COVID19 & the shocks to the global economic system, more USD may be printed that leads to inflation. Supporters say that Bitcoin and other crypto tokens act as a hedge against inflation.
8/
Wen Duo:
We all know that global crypto market hit all time highs in 2017. However, in 2018, it rapidly turned cold. But now, it is slowly warming up.
Currently, total value is at around $330B USD.
9/
We all know that global crypto market hit all time highs in 2017. However, in 2018, it rapidly turned cold. But now, it is slowly warming up.
Currently, total value is at around $330B USD.
9/
Wen Duo:
Recently, there has been some good news in crypto. For example, Brazilian fund manager Hashdex and Nasdaq have collaborated to push out the first global Bitcoin ETF on the Bermuda Stock Exchange.
10/
Recently, there has been some good news in crypto. For example, Brazilian fund manager Hashdex and Nasdaq have collaborated to push out the first global Bitcoin ETF on the Bermuda Stock Exchange.
10/
Wen Duo:
Many central banks around the world are also making investigations into crypto. However, on the whole, crypto remains incredibly volatile and uncertain.
11/
Many central banks around the world are also making investigations into crypto. However, on the whole, crypto remains incredibly volatile and uncertain.
11/
Wen Duo:
We still remember that last year, Facebook's Libra brought around widespread attention and concern. However, news of Libra has slowly phased out of the public's attention.
[Video ends here.]
fin/
We still remember that last year, Facebook's Libra brought around widespread attention and concern. However, news of Libra has slowly phased out of the public's attention.
[Video ends here.]
fin/
