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Grayscale: The current market structure is similar to that before the BTC bull market in early 2016.



A new report from cryptocurrency fund manager Grayscale Investments argues that the current bitcoin market structure is “similar to the structure before the historic bull run that began in early 2016.”

Grayscale predicts that demand for Bitcoin will grow significantly as inflation accelerates, underscoring the need for a scarce monetary commodity that underpins Bitcoin’s use cases.

Grayscale: The value of DeFi assets now accounts for 2.6% of the S&P index’s $4.2 trillion market capitalization: Jinse Finance reported that Grayscale released the “Grayscale DeFi Primer” report, which pointed out that the return automation strategy of DeFi robot advisors is driving capital The efficiency of the market, which was not possible before the open banking of DeFi. It wasn’t possible before DeFi’s Open Banking Data API. DeFi enables anyone to offer these services to anyone else with an internet connection, anywhere in the world. Disrupted the financial industry. The market capitalization of DeFi has risen to about $90 billion in two years. DeFi assets are now worth 2.6% of the S&P's $4.2 trillion market capitalization. However, accounting for only 1.6% of the $8 trillion global banking industry, DeFi is still in its early stages. If this growth rate can continue. That would be 1% of all U.S. commercial bank deposits, or make DeFi the 18th largest U.S. bank by assets. [2021/12/30 8:13:34]

The report noted growing interest in crypto at a time when the number of bitcoins held on exchanges is at an all-time low, with more long-term holdings than short-term speculation.

Grayscale: 100% committed to converting GBTC into a Bitcoin ETF: Grayscale announced that the platform is 100% committed to converting GBTC into a Bitcoin ETF. Grayscale applied for a Bitcoin ETF in 2016, and spent a lot of time in 2017 talking to the SEC about it, but withdrew its application because the regulatory environment was immature. In addition to Bitcoin Trust, Grayscale has also launched a number of trust products, and Grayscale stated that its purpose has always been to convert these products into ETFs. At present, Grayscale believes that the time is ripe, and said that after the goal is achieved, GBTC holders do not need to take any action, and Grayscale will lower the management fee. [2021/4/5 19:47:26]

Grayscale also noted that Bitcoin daily active-ethexc addresses are at their highest level since 2017’s all-time high.

Dynamics | Grayscale: The investment inflow in the third quarter exceeded 250 million US dollars, a two-fold increase from the previous quarter: Grayscale Investment (Grayscale) recently announced its digital asset investment report for the third quarter of 2019, saying it was a record-breaking quarter. Despite a recent drop in prices across the digital asset market, its investment inflows tripled quarter-on-quarter, from $84.8 million to $254.9 million, the report said. The chart shows that since its inception, Grayscale’s USD-denominated capital inflows this quarter accounted for nearly 27% of Grayscale’s cumulative product inflows. Grayscale raised $254.9 million over the past three months, with an average weekly investment of $19.6 million across all products during the quarter. In addition, 67% of funds flowed into Bitcoin Trust during the quarter, and 33% flowed into Grayscale products other than Bitcoin Trust. This is more balanced than it has been over the past 12 months. (AMBCrypto)[2019/10/16]

Quantitative Easing Boosts Cryptocurrencies

The report said loose monetary policy following the abandonment of the gold standard in the United States created a cycle of debt-fueled asset bubbles, followed by aggressive quantitative easing.

Grayscale pointed out that the U.S. economy has become increasingly dependent on quantitative easing (money printing) to stay afloat, and history has shown that this addiction is difficult to kick. The S&P fell 20 percent in three months as the Fed launched a liquidity program in 2018 to reverse monetary expansion.

While the U.S. dollar remains "structurally strong relative to other currencies," the report said investors wary of inflation are looking for ways to protect against an expanding money supply amid "unprecedented monetary and fiscal stimulus." , thereby supporting Bitcoin as a store of value.

Institutional Demand for Bitcoin Increases

Grayscale cites a scoring system used by hedge fund manager Paul Tudor Jones to assess bitcoin's properties relative to cash, gold and financial assets and to determine the market's growth potential.

The report quotes Jones as saying:

Jones concluded: "There seems to be something wrong here, and I think it's the price of Bitcoin."


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