Crypto is Worth Nothing?
Recently, the European Central Bank President Christine Lagarde made a remark that crypto is worth nothing. Really? Here are some 9 statistics to ponder on. You decide.
- The global cryptocurrency market cap today is $1.34 trillion
- The total crypto market volume over the last 24 hours is $54.1 billion
- DeFi has a total value locked (TVL) of $109.81 billion
- According to The Block, there was $25.1 billion raised in venture capital financing and $6.1 billion worth of M&A dollar volume, a 707% and 730% YOY increase respectively in 2021
- Bitcoin network hash rate — a measure of computing resources by participating miners — hit a record high of 258 EH/s in April 2022
- According to Chain Debrief, Web 3 saw the largest growth of new developers at 34,391 in 2021, the highest in history. And it’s still growing.
- A LinkedIn article states that job postings relating to crypto skyrocketed by 395%, outpacing the wider tech industry
- Crypto for Charity (https://www.cryptoforcharity.io/) raised $4.2B in charitable contributions. That is crypto for a good cause!
- Ukraine raised $60 million through Crypto for the support of humanitarian aid programs and their armed forces to defend against the invaders, more than what the United Nations could raise.
It’s about time people give crypto some credit. Contrary to what the traditional mass media often portrays, crypto is innovation and it can be force for good. It’s not everyone cup of tea, but like the Internet, it’s here to stay. And it has a massive potential to change lives and revolutionize the way things are done.
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Last point — if Crypto is really worth nothing — why does government wants to tax it then? You cannot tax something which is nothing!
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