DeFi Becomes The Most Bullish Crypto Industry Development; Eclipses BTC Halving, CBDC Development – Survey

Friday 23 October 2020, 2:52 AM AEST - 1 month ago

DefiDeFi Becomes The Most Bullish Crypto Industry Development; Eclipses BTC Halving, CBDC Development – SurveyWorld Markets

2020 has been quite eventful. The cryptocurrency battlefield is getting increasingly crowded and has been witnessing an increasing amount of attention like never before. Despite the economic shockwaves due to the ongoing COVID-19 pandemic, the cryptocurrency industry has emerged as an outperformer. While Bitcoins impressive rise throughout the year has been one of the most important news of this year, it is decentralized finance [DeFi] space that remains unbeaten.

Popular conversations takes a back seat

DeFi has managed to eclipse everything else that has been happening in the crypto ecosystem this year. Previous subject matters seem to have taken a back seat. This was according to the latest survey by Grayscales parent company, Digital Currency Group [DCG].

The platform reportedly polled the Founders and CEOs of more than its 150 portfolio companies on a wide range of topics and trends. In terms of DeFi, the surveys respondents identified the rise of the DeFi sector as the most bullish crypto development of 2020. It was followed by BTC resilience and Stablecoin surge. Additionally, Big tech entering the field was in the fourth position.

Source: DCG

Besides, since early 2020, the institutional demand for Bitcoin (BTC) has been consistently increasing. In the second quarter of this year, the appetite for BTC spiked substantially. However, all eyes were on DeFi. Hence, the topic of institutional demand was pushed to fifth position. Bitcoin Halving was heralded as the turning point for Bitcoin in the modern economy. But like everything else, conversations surrounding the block reward halving of the cryptocurrency faded. This was followed by the development of Central Bank Digital Currency. It is important to note that China leading the world leaders in terms of CBDC developments rose to prominence in the third ...

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