Bitcoin, Ethereum, Crypto News and Price Data

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This whole cycle crescendoed in March, April and May of last year, and since then we’ve been battling an endless, seemingly, tidal wave of FUD, haven’t we? We’ve had China FUD, Regulatory FUD, Tether FUD, always Tether FUD somehow etc. etc. But that was a bit of the bitcoin side of the story. However, even as these hedge funds were starting to get really excited about bitcoin and how bitcoin could be a hedge against rampant government printing and all that was to follow, we were also in the middle of DeFi Summer, where at In early summer 2020, there was less than $ 1 billion in value stuck in DeFi. It grew and grew and grew and grown until here a year later we have over $ 80 billion stuck in DeFi on Ethereum alone, the big explosive months were really those summer months. And I think you can argue that it was actually the DeFi Summer product that helped fuel the first phase of the NFT boom that happened towards the end of the year and then had its own crescendo. around March of this year, 2021. Now like I said these things are blurry, there is a mix, there were a lot of DeFi investors who were also doing bitcoin, there was probably a lot of profit bitcoin that have been invested in NFTs, at least from traders. And I think in general it’s worth asking questions about zero-sum thinking when it comes to crypto markets.

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