Before this, the good news about Bitcoin was 10x more valuable than gold.
The Bloomberg Galaxy Crypto Index recently saw a surge in digital assets of up to 66%, surpassing 20% of the gold position.
Based on the observations of Bloomberg Intelligence strategists, the increase in the use of centralized finance (Defi) has led to a surge in Ethereum that supports more than half of the crypto industry.
Defi started in early 2020 and has grown to $ 9 billion from its previous value of less than $ 700 million.
In addition to Defi, Bitcoin also gained attention throughout the COVID-19 crisis as the safest asset just like gold when risk increased.
The risks posed in this industry lead to stagnant economic situations paving the way for the digital currency industry to become more valuable than other assets.
Undoubtedly the crypto market also has its ups and downs and depends on liquidity, not proving the safety of Defi as it is said.
The Bloomberg Galaxy Crypto index previously declined more than 8% in three sessions over Tuesday following a pandemic that weakened sentiment in some assets. The benchmark also fell above its 20% high in August.
However, the crypto industry is still positive as the number of investors increases in line with the Bitcoin and Ethereum market spikes.
