Bitcoin beats gold but Doge beats everything as crypto takes over

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At the height of the crypto bull market in 2017, they say Katy Perry painted her nails with altcoin logos. Will the 2021 market be remembered? Elon Musk’s interest in Dogecoin and Tesla buys $ 1.5 billion worth of bitcoin? It’s too early to tell, but it can be said for sure – crypto is everywhere right now and is attracting interest from the most unlikely circles.

Far from memecoins and celebrity mentions, a bigger story unfolds as a generation abandons traditional investments for digital analogues: collectibles, cryptocurrencies, and man-made assets that can be chained and traded, without permission, to the globally and around the clock.

Evidence of crypto’s maturity as an asset class can be found in a new survey that suggests Americans find bitcoin twice as attractive as gold. In a BitFlyer USA poll, 20% of respondents said they have used cryptocurrency, while 30% see it as an attractive investment this year.

As millennials prepare to inherit the wealth their baby boomer parents have acquired or spend the money from their stimulus checks, they are unlikely to buy gold. For a growing number of web natives, the future is digital, decentralized and tokenized.

Ethereum raises the long tail of challenge tokens

Ethereum has surpassed its all-time high, set three years ago, and this has benefited projects whose own tokens are issued on its network. Decentralized Finance (DeFi), the Ethereum-centric movement to recreate banking and lending services in a crypto environment, has been the biggest beneficiary of the Ethereum rally. DeFi Token Market Cap Now Exceeded $ 66 billion, while the total value of assets blocked in decentralized financial protocols has doubled since the start of the year to reach $ 34 billion.

UNI, the native token of Uniswap decentralized exchange, which processed $ 30 billion of trade volume in January, tripled in value this year. This increase in trading activity has driven up Ethereum’s fees, prompting traders to seek out more scalable blockchains that can handle the pressure.

Now is the time for new traders interested in speculating on the world’s computer, as CME Just Announced Trading Ethereum Futures. According to Bybit analysts, skeptics are tired of “selling the news” The market downturn since CME last added futures for a major cryptocurrency was around the same time Bitcoin peaked in 2017.

Crowds are looking for the next big chain

With ETH shattering historic highs and other assets such as Polkadot DOT making impressive results, many blockchain investors are looking for the next rising star, with more people now pointing to Tezos like the sleeping giant of the crypto world. With the much documented Legal issue behind them, Tezos is starting to gain traction and looks to 2021 to prove that beyond the early hype, they offer an engaging alternative to the community and are here to stay.

Bitcoin takes on ETH at its own game

One of the most spectacular trends in decentralized finance has been the growth of bitcoin-based DeFi. This happened within the Ethereum ecosystem, through symbolic representations of bitcoin such as WBTC, and externally on networks such as RSK, which connects directly to the Bitcoin blockchain, providing a smart contract layer for decentralized finance.

Applications that were once synonymous with Ethereum, including DEX, stablecoins, and crypto lending protocols have been recreated on RSK, allowing bitcoin holders to use their assets for trading and generating return.

By default, bitcoin is not a yielding asset. Decentralized finance offers holders a way to monetize their BTC through loans, yield farming and the issuance of stablecoins, using their bitcoin as collateral. Over 120,000 BTC has been issued on Ethereum as WBTC, while Bitcoin-focused DeFi protocol Badger Finance has a value of almost $ 1.8 billion locked in its safes. Anything Ethereum can do, it seems, Bitcoin can do too.

Pick-and-Shovel plays Power Crypto Gold Rush

Digital gold beats physical gold, according to the recent bitFlyer USA survey of Americans’ investing habits. If there is an ongoing crypto gold rush then smart money may reside in the pickax and shovel games.

In a blockchain context, these take the form of development tools that enhance the capabilities of distributed ledger technology. oracles such as Chain link extract reliable data from external sources, enabling the creation of decentralized markets for real world events and for assets such as physical gold to be tokenized and traded as synthetics.

While mainstream investors ask their crypto friends if it’s too late to buy cryptocurrency, cryptocurrency veterans are looking beyond memecoins and focusing on the low cap gems. Whether it’s native assets of Ethereum alternatives, Oracle tokens, or trading protocols, everyone is looking for the next big thing.


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