Consistent stimulus plans will lead to the imprisonment of inflationary fiat currency and reduced prosperity. The CEO of BitGo has advised people to protect their wealth from the economic shutdown around the world.“If you don’t have some Bitcoin now, it is time to put at least 3% of your net worth into Bitcoin. This is the lowest risk, highest asymmetric upside investment you will likely see in your lifetime. Or stop the lockdown. But still get Bitcoin.” -Mike Belshe 2020 macro asset returns comparison as of Aug. 12. Source: Skew
DeFi Ramping Up
DeFi continues to be the lead culprit for new interest in the space. We are currently experiencing high traffic on the Ethereum network. Gas fees has risen to the 200Wei mark, making it very expensive from the average 60Wei level.
This can have traditional banks and crypto exchanges worried for their business. As liquidity becomes less of a problem in decentralized exchanges(DEXs) more and more people will use them as their preferred method of exchange.
We see that as DEXs like 1inch and ParaSwap grant access to liquidity from all of the DEX markets through just your web wallet. DeFi offers more than just trading. With new innovation in smart contracts, markets like insurance and credit open up to savvy investors. For the highly experienced, yield farming and flashloans are new tools that the world has never seen before to create new financial systems.