Acest tip de token a crescut de 30 de ori la YTD

11 Iunie, 2021by Mark Murdock

11 iunie 2021 / Unchained Daily / Laura Shin

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Daily Bits ✍️✍️✍️

• carte mare ridicat a $380M Series C at a $1.5B valuation.

• Meat supplier JBS paid $11M in BTC to resolve a ransomware attack.

• ForUsAll, a 401(k) provider, is partnering with Coinbase to allow administrators to invest up to 5% of their 401(k) contributions în cripto (ForUsAll’s CEO Jeff Schulte is this week’s guest on Unconfirmed).

• The SEC sent out a second note to investors, warning against Bitcoin futures.

• Karura, a DeFi network for Kusama and Polkadot, raised $100M via a crowd loan.

• 7523. CryptoPunk sold for $11.7M.

• Arrington Capital Management is launching a $100M fund to invest in the Ecosistemul Algorand.

• The Texas Department of Banking gave crypto custody a lumina verde for state-chartered banks.

• 0x and Polygon are spending $10.5M to woo developers to build on Polygon.

• Referencing El Salvador, an IMF spokesperson a spus that “adoption of bitcoin as legal tender raises a number of macroeconomic, financial and legal issues.”

• A global standards body for bank regulation recommends strict capital requirements for banks with crypto exposure in its latest consultation.

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Ce îți amintești?

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Ce este Poppin '?

Inflation is poppin’. 

Biroul de Statistică al Muncii din SUA raportate a 5% rise in the consumer price index over the past 12 months — the largest yearly increase since a 5.4% rise in August of 2008.

In a similar vein, weekly data shows that the Federal Reserve’s balance sheet has topped $8 trillion for the first time, up nearly $1 trillion from June 2020 — the rough equivalent of a 15% increase.

A Crypto Inflation Hedge Has Increased 30-Fold YTD

According to research compiled by Arcane Research and rezumate by CoinDesk, one crypto-asset class has been very successful during May and June’s bearish market action, perhaps suggesting that crypto investors are looking for an inflation hedge and proven store of value during turbulent times.

Indeed, the market capitalization of gold-backed tokens has grown 30-fold since the start of 2020. Carl Vogel, a senior product manager at Paxos, the creator of the largest gold-backed token (PAXG), told CoinDesk that “gold tends to be, in very volatile times, a very natural and great asset class to go ahead and diversify into.”

Bitcoin’s market cap, often touted as a hedge against inflation, is only up about 25% YTD, coming nowhere close to the 30-fold number of gold-backed tokens, indicating that Bitcoin’s “digital gold” narrative may have died down a bit.

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Citiri recomandate

• The World Economic Forum on DeFi:

• Here is a fantastic breakdown of Vitalik Buterin’s UNI as an oracle proposal:

• Glassnode on Bitcoin’s on-chain market cycles (an oldie but a goodie):

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Pe pod ...

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