There are two halves of the financial system from a crypto enthusiast’s perspective — traditional finance and cryptocurrency finance. But the crypto space now has two subspaces — centralized finance (CeFi) and decentralized finance (DeFi). Here’s how the divide happened.
Recent statistics show that the shutdowns caused by the COVID-19 pandemic have affected women at a much higher rate than men – both financially and professionally. This is deemed a she-cession by reports that have been following recessions since 1949.
The SARS-CoV-2 coronavirus pandemic has left a significant footprint on the global economy. For this reason, it had a substantial impact on the behavior of all financial instruments, including cryptocurrencies. It turns out that the fluctuations experienced by the virtual currency market during this period reflect changes in other capital and commodity markets. This market has also shown relative stability during this difficult time. It is another proof that cryptocurrencies can be treated as a mature and full-fledged financial instrument.
There is no better example of evolution than what we have seen in the financial world. From traditional in-person banking to internet banking which eventually moved from your desktop to the comforts of your palms through mobile banking. The strides that technology has taken have further changed the way we bank today introducing us to digital banking.
Bitcoin slumped with the stock market Monday, falling more than 5%, after miners began selling at a higher rate on Sunday. Ether cooled off as well, and the average DeFi token has slumped 30% to 40% in recent weeks.
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