Daily Crypto NewsEDITION #25, 14 September 2020

DeFi has a long way to go

Hey #Moni Maker 🥳

This week seemed like a calm before the storm, nevertheless, cryptomarket has shared a couple of exciting news! We won’t procrastinate and suggest you dive right in the hottest topics of the cryptoworld:

Have you heard about anything more popular than DeFi lately? Neither did we. But in fact, the interest of private investors remains at low levels, we checked it with Google Trends.

If we compare searches of "ICO" to "DeFi", Google scores 18 points. Simply speaking, new investors don't demonstrate such interest in DeFi, as in the ICO times.

So what?

Let's dive a bit deeper. First of all, many fans of DeFi don't even understand it. Remember 2017 (ICO boom), when investors followed a quite simple speculative scheme: invest – gain – cash out. DeFi is more difficult for the average person to grasp.

Second of all, it's not cosher to compare ICOs and DeFi, because no matter how much of a correlation we would like to see, the cryptocurrency market is unpredictable. Anyway, that's exactly what we love it for..

Third, if we compare ICO and DeFi, the scheme above gives a lot of advantages. Before the "bursting" of the bubble is still fa-a-a-a-r.

CEO of Twitter and Square, Jack Dorsey continues to support Bitcoin and cryptocurrencies, urging all crypto projects to make their cryptocurrencies patents open and shows by example how to do it.

Yesterday, Jack said in an interview with Reuters that Bitcoin has all chances to become the currency of the Internet. According to the fact that the base for our society’s development is World Wide Web, we can predict that Bitcoin will become increasingly popular in the coming years.

So what?

So-o-o-o... the more influential and cool people support the movement, the faster you have to put your shoes on and run with it. Not always, but often.

People are tired not only of inflation, but also of spying, "Big Brother" and the likes. Everyone is tired, even the strongest of the world can barely hold on. But we already have a solution, you know what we mean (BTC) :)

Analytical company Chainalysis has published a new report on the use of cryptocurrency in the world. The top three leaders include Ukraine, Russia, and Venezuela.

Residents of these countries are the most active users of crypto in the world. China and the USA are still the leaders by transaction volumes.

So what?

Guys, you know we are from Russia, and it's important to be careful with words here. Being on top of the Chainalysis list means having a strong demand for financial freedom and IT-related activity. That's our take.

Web traffic of the cryptocurrency exchanges in August increased by 30.5% compared to July, which is the highest indicator since June 2019. A total of 144.3 million visits to website were recorded throughout the month.

So what?

Because of coronavirus people suffered massive panic attacks due to an expected inflation of traditional money. We can even say that this pandemic made a positive impact on the cryptocurrency.

In contrast to 2017, citizens now don’t see crypto as “fast money”, but as a real alternative to the annoying modern economic system.