TL;DR Breakdown:

Notably, Bitcoin awareness has been increasing steadily with every proceeding year, and the price of the cryptocurrency has been a major factor contributing to this. Especially in 2020, the crypto gained more attention after it managed to rebound from the COVID-19 led market crash in March. This some other reason had caused many people to learn about Bitcoin at some point and even investing in it. A fresh survey by Morning Consult showed this. 

Morning Consult conducted the survey between January 6 and 8 of 2021. About 2,200 adults in the United States responded to the Bitcoin awareness poll, which reportedly has a “margin of error of 2 percentage points.” In summary, more Americans are becoming familiar with the cryptocurrency, especially male. Interestingly, adults in the US are getting to know Bitcoin, which seems to be an asset meant for young people. 

As reported, about 33 percent of the American adults responded that they are “very” or “somewhat” familiar with the cryptocurrency. It’s interesting to note that adults are showing interest in Bitcoin, although most of the people surveyed aren’t “too” or “not” familiar with the cryptocurrency. However, young adults are more familiar with the cryptocurrency, especially millennials. About 45 percent of the millennials said they were familiar with Bitcoin. 

Thirty-seven percent of GenXers and 17 percent of baby boomers said likewise.

It’s agreeable to note that the cryptocurrency market, in general, is more likely dominated by male investors. The survey report also confirmed Bitcoin awareness in the US is more common with men. About 44 percent of all the men surveyed said they were familiar with the cryptocurrency. However, a lower percentage of all the female respondents (23 percent) said the same. 

Young adults are apparently more familiar with Bitcoin than their elders. In a recent report, Cryptopolitan noted that many young adults believe that Bitcoin is a better safe-haven asset compared to precious metals like gold. 

Central bank digital currencies gained traction all over the world in 2020, as all the world's biggest economies considered producing their own digital money. But how will CBDCs affect Bitcoin (BTC) if every country comes out with its own? Dean Steinbeck, co-founder and chief operating officer of Horizen Labs, posited that Bitcoin’s core atmosphere would remain the same on the surface. 

“There has recently been plenty of activity internationally with governments exploring the development of native virtual assets,” Steinbeck told Cointelegraph. Steinbeck also works as general counsel at Horizen. “A healthy, robust virtual assets ecosystem has the potential for broader financial inclusion, more efficient markets, and so forth,” he added.

“It’s hard to say how the growing interest behind CBDCs will affect bitcoin, or cryptocurrency in general,” Steinbeck said, adding:

“I believe the collective awareness of censorship — among many other variables — bodes well for the future of cryptocurrency,” Steinbeck said. “Broader awareness of the benefits of digital currency, like CBDCs, also has the potential to expose more casual users to the world of crypto.”

France continued its CBDC testing earlier today with a pilot interbank payment.

In this day and age, crypto-currencies have become a very lucrative source of investment and monetary exchange. There is a certain vocabulary that you need to know, especially if you are a new investor. 

Like in the normal world, there is some lingo widely accepted in the crypto ecosystem. 

If you are a Reddit user, you have probably seen the tons of terms used by Reddit users to refer to Bitcoins and Ethereum. 

The rise of Bitcoins has led the investors to form an organized crypto ecosystem, and they only speak in these terms if they have to convey or send a message to fellow crypto users.

The term pump and dump mean buying and selling. This term is mainly used when an investor buys (pump) a ton of bitcoins when the price is low and sells (dump) when the price is excessively high. Users who follow this regularly are said to be ‘pumping and dumping.’

This term is a bit dramatic. Bagholder usually refers to the people who hold on to bitcoins after a severe market crash. This term is used to refer to investors who bought the bitcoins at an excessively high rate and missed the opportunity to sell them at the right time. 

In simple words, the investors are left with bitcoins that are worthless, but they are sure that the prices will rise. 

 Whales are what you call ‘bulls’ in the stock market. They are very wealthy and can move the market in no time; credit goes to their huge capitals. Whales hold ridiculous amounts of bitcoins. Cryptocurrency prices can be altered due to whales. 

HODL is undoubtedly the most famous crypto term. There is a funny context behind the invention of HODL. This crypto term originated when a drunk person was typing in the subreddit of Bitcoin and mistakenly spelled HODL instead of HOLD; since then, the term has gone viral. 

Investors often try to hold onto their investment when the market is volatile.

You may have got the idea of how this phrase is impactful here. This phrase is used by traders when the price of Bitcoins skyrockets to the moon. Many would say the prices of bitcoins ‘mooned’ the last year, which means the prices went up 10-15 times the prices they bought them for.

All other cryptocurrencies other than Bitcoins are called altcoins. ALT is the first three letters of the word alternative. Another term used to refer to cryptos that have no potential is Shitcoin. These coins do not have the potential for a price hike in the future, but the users keep holding on to them. 

ATH stands for All-Time High. The best price of a particular coin is referred to here. For instance, Bitcoins hit their all-time high in December 2017.

Shilling means the act of buying a particular coin and bragging about it to the public so that others invest in that coin, too; this is basically an attempt to pump its price.

Bullish means the price will rise in the future of this Cryptocurrency. It is done by amateur analysts; mostly, they don’t work. It is the cpomagazine.com of working in the crypto ecosystem.          

On the other hand, bearish is just the opposite of bullish; it is the prediction that soon the prices are going to crash.

Last but not least comes FUD, which is the abbreviation for Fear, Uncertainty, and Doubt. FUD is nothing but fake news and gossip spread by people in the crypto ecosystem who want the price of a certain coin to drop. 

For instance, you can say, “ABC is spreading FUD” a person spreading FUD is called FUDster.  

These were the top Ten Crypto Terms You Need To Be Aware Of In 2021. These terms are used by traders on a regular basis. Learning these terms as soon as possible helps you progress in the crypto ecosystem.    

Bill Gates, the Microsoft founder turned philanthropist has weighed in on the most talked-about asset Bitcoin in recent times and said that even though he does not hold any bitcoin, he is not short on the top cryptocurrency but rather has a neutral stance. Gates comments came during his interview with CNBC. He said,

I don’t own Bitcoin, I’m not short Bitcoin. So I’ve taken a neutral view,”

— Squawk Box (@SquawkCNBC) February 18, 2021

Gates also revealed that even though his foundation is involved with digital currency transactions, though it is not necessarily in bitcoin. He added,

“I do think moving money into a more digital form and getting transaction costs down, that’s something the Gates Foundation does in developing countries.”

Bill Gates who now mostly spends his time in philanthropy work suggested that he is not aware of how bitcoin would fair in the future but suggested that the current price movement is highly speculative. He said,

“But Bitcoin can go up or down just based on the mania or whatever the views are and I don’t have a way of predicting how that will progress,”

Gates also shared his views on the recent Reddit frenzy leading to high price volatility in the stock market that created quite a controversy. Gates believe SEC should “look at this because we don’t think of the stock market as just performing a casino-like role”

While most of the leading financial institutions including the likes of BNY Mellon, Blackrock, JP Morgan, and many others have either already dwelled in bitcoin or are actively looking to integrate it looking at its growing demand, Gates comment reflects a lack of interest in the digital asset as he expressed that he is not aware how the top cryptocurrency would fair in future.

To keep track of DeFi updates in real time, check out our DeFi news feed Here.

The price of Bitcoin (BTC) rallied to above $48,000 on Feb. 9, and has been consolidating since. Analysts from Material Indicators found that whales were the primary driver of the rally.

This is largely considered a bullish sign. The probability of a Bitcoin top would increase when retail investors enter into the market en masse, as both the spot and derivatives markets get overheated.

In recent months, so-called “mega whales” sold large amounts of Bitcoin between $33,000 and $40,000.

Orders ranging from $1 million to $10 million rose significantly across major cryptocurrency exchanges, including Binance.

But as the price of Bitcoin began to consolidate above $33,000 after the correction from $40,000, the buyer demand from whales surged once again.

Analysts at “Material Scientist” said that whales have been showing unusually large volume, around $150 million in 24 hours.

Analysts say that the frenzy around public companies owning Bitcoin creates a positive market sentiment around the dominant cryptocurrency.

Filbfilb, a pseudonymous Bitcoin trader, said that in the current economic environment, shareholders would likely demand pubic companies to secure exposure after Tesla derisked holding Bitcoin. 

Additionally, Raoul Pal, the CEO of Real Vision Group, also emphasized that Bitcoin is still early in its rally.

In terms of mainstream awareness, there is still generally a low level of awareness of Bitcoin among casual investors. In 2017, many retail investors were rushing to purchase Bitcoin. Pal explained:

DeFi still has a long way to go before it is taken seriously as a competitor of traditional finance, but its parabolic adoption in the last year could be the start of an economic revolution. In order to speed up this process, Radix DLT, a blockchain protocol specifically built to benefit DeFi applications, has created and launched the Goodfi Alliance. In collaboration with AAVE, Chainlink, Messari Capital, and mStable, some of the biggest players in the blockchain industry, Goodfi Alliance will work to evangelize DeFi to everyone.

Established as a non-profit initiative, Goodfi has one goal, and one goal only: the introduction of DeFi to as many people as possible. The alliance has massive plans already, intending to get one hundred million people to put at least $1 into DeFi applications. The program’s backers plan to accomplish this feat by 2025 using the brains and resources of some of the top DeFi contributors.

Goodfi is taking a multi-faceted approach to spreading DeFi, focusing on education, research, and awareness to accomplish its mission. Goodfi also plans to collaborate with more businesses, organizations, and other influential bodies that want to promote DeFi solutions. Since many different platforms undertake this initiative, some of which will inevitably compete against others in the alliance, all promotions will be neutral and focused on the DeFi industry as a whole.

Goodfi won’t only be focusing on introducing DeFi technology to end-users, but also to companies that can benefit from these innovations. The consortium will regularly produce and release educational materials, as well as advisory materials that can be especially useful to companies looking to get involved in the space. By teaching as many as possible about the opportunities that DeFi can unlock, Goodfi hopes to spur growth in the industry and restore power to the disenfranchised – the 99 percent. Many are not aware of the potential DeFi brings; Goodfi plans to open their eyes.

Many competing blockchains are looking to make their mark in the DeFi space, but Radix is one of the only blockchains that caters to the needs of DeFi developers and users almost exclusively.

That being the case, its decision to establish an initiative such as Goodfi makes perfect sense. The endeavor will be good for the perception of the industry as a whole, which in turn should be advantageous for Radix. It also makes sense why other decentralized platforms and blockchain-focused investors have gotten involved, since they all have the same collective goal of promoting the industry. 

When other organizations begin to see the alignment of industry incentives, they may also be motivated to get involved. One hundred million is a significant number of people. If Goodfi is able to make good on its promises and reach this goal, the cryptocurrency, blockchain, and DeFi ecosystems will have a new army of users ready to fight on its behalf.

Disclaimer: The writer has a personal relationship with Radixand used this relationship to source insights for this article. The Daily Chain encourages you to carry out your own research before you make any form of investment and educate yourself about how to stay safe in the crypto space. This article is informational/educational and does not represent financial advice.

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XLM price – 5 Lesser-Known Cryptocurrencies to Buy Before the Crowd

Cryptocurrencies have been some of the most explosive opportunities on the market in 2021.

Granted, there was a short-lived pullback after U.S. Treasury Secretary Janet Yellen warned against cryptocurrencies being used “mainly for illicit financing.”

However, the pullback didn’t last long at all.  All thanks to incredible retail and institutional buying interest.

Skyridge Capital believes we could see a “tidal wave of institutional capital,” as reported by Bitcoinist. In fact, the firm says the cryptocurrency could see maturation as an asset class, and attract hedge funds, public company treasurers, insurance companies, pension funds, RIAs, banks, brokerage houses and ETFs.

While most of us are well aware of Bitcoin, here are five you may not have heard of just yet.

Bridgewater founder Ray Dalio just said his firm may soon buy Bitcoin. Even better, Elon Musk just said he bought $1.5 billion worth of Bitcoin (CCC: BTC ) in January, adding that Tesla (NASDAQ: TSLA ) would accept it as payment for products.  In short, the catalysts for further crypto-upside are in place.

Source: Stanslavs / Shutterstock.com

The Stellar cryptocurrency is referred to as Lumen.

With a market cap of $8.77 billion, XLM just soared from a low of $0.08 to $0.39. If it can maintain the momentum, we could soon see a retest of resistance around $0.62.

Also, Stellar is a decentralized protocol, designed to extract lightning fast and efficient payment protocols. That makes it possible for people to create, send and trade digital forms of money –dollars, pesos, bitcoin. All designed so all the world’s financial systems can work together on a single network, according to the company’s website.

Better still, scarcity could drive upside here. At the moment, there are 30 billion lumens on market, and no more will be created. If demand picks up momentum, XLM could take off.

Source: Shutterstock

MIOTA is another high-flying cryptocurrency you may want to consider.

Over the last few weeks, the coin rocketed from a low of about $0.30 to a high of about $0.62. From here, it could test $1.81 if it can maintain its momentum. When it comes to MIOTA, this cryptocurrency doesn’t utilize blockchain technology. Instead, it relies on Internet of Things (IoT) applications and functions as a bridge between these devices.

According to Securities.io, “IOTA introduces standards and provides a reliable and affordable way for all of these devices to leverage other sensors in the network efficiently, This strategy opens the door for some pretty amazing functionalities.”

Komodo is another hot cryptocurrency to consider.

Over the last few weeks, KMD ran from a low of $0.44 to a recent high of $0.79. If it can break above resistance at $1.79, we could see a potential test of about $4.19.

KMD is a blockchain platform that uses atomic swaps, or “peer-to-peer cryptocurrency trades that exchange two different coins from one user to another, wallet to wallet,” according to Liquid.

In addition, KMD relies on Zero Knowledge Proof, which allows KMD transactions to be 100% private at all times. It also uses Delayed-Proof-of-Work, which adds a notarization mechanism.

After bottoming out around $0.20, FSN rallied to a high of about $0.76. If it can sustain its momentum, we could see a near-term test of $0.94.

Fusion is a blockchain project creating the next generation of financial innovation, according to Coin Bureau. This crypto is trying to connect all financial transactions in an ecosystem through the use of smart contracts.

Additionally, the company is trying to solve issues of scalability and inoperability in blockchain technology as well.

Another coin to be aware of is the Binance Coin, the in-house token of the Binance cryptocurrency exchange. Over the last year, BNB rallied from $10.50 to a recent high of $74.97. With a good deal of momentum, I wouldn’t be shocked to see it closer to $100.

Binance, one of the world’s largest crypto exchanges, launched its own currency to help cut back on transaction costs. The coin became known as Binance Coin, or BNB. In short, BNB is simply a secondary coin for transferring money between different currencies within Binance.

Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.

On the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned in this article. A contributor to InvestorPlace.com, Ian Cooper has been analyzing stocks and options for web-based advisories since 1999.

XLM price – 5 Lesser-Known Cryptocurrencies to Buy Before the Crowd Tags: XLM price

Many people are aware of Bitcoin and Cash cryptocurrencies. They are trading and earning massive amounts of money through these digital currencies. Everyone knows that Bitcoin was initially known and popular virtual currency, introduced by Satoshi Nakamoto in 2008.

Many people get confused between Bitcoin and Cash. These terms sound the same but are different in terms of everything. The Cash is the update of the BTC with additional changes. It is not only virtual currency but also has its blockchain. The BTC transaction is relatively secure and fast.

The price is increasing day by day, and many people cannot afford to invest in it. On the other hand, BCH is available with slight modifications, and people can afford it. Visit  bmmagazine.co.uk  to know some differences between these two cryptocurrencies that sounds similar.

In the following write-up, we will discuss more Bitcoin and Bitcoin Cash, including their differences. It is crucial to determine the comparison to invest in a better commodity and earn a massive amount in the future. Let us discuss how these cryptocurrencies are helpful for your investment.

Let us compare these two digital currencies by knowing their massive differences:

No cryptocurrency can beat Bitcoin in terms of price. With time, the BTC price is rising. According to the records, the price is increasing more than 120 million percent. After 2010, the economy of the world went into a significant recession. At that time, the value increased, and people invested their assets.

The financing world is changing a lot after the invention of this digital currency. On the other hand, BCH is stagnant, and there is no such increase in the price. The existence is not much sturdy like Bitcoin. There is a total increase of almost 65% from its time of invention.

But many people are showing their interest in the investment. If you are a beginner and cannot afford much on virtual currencies, it is the best option for making any small investment.

Again, BTC is the winner if we talk about the hash rate. It defines the mining power, and hence, the network of Bitcoin is quite powerful than the Cash one. Many miners are dealing with a crypto asset to safeguard their network, as well as validate all the transactions.

If we compare these two virtual currencies in terms of exhalates, then BTC is 100 and BCH is 2. Whenever you think about investing your money between these two, ensure that you consider their hash rate. It is a significant thing that one must consider before any money investment.

People across the globe are dealing with different cryptocurrencies, and everyone has adopted Bitcoin. If an investor knows how to invest and achieve profit, then he can earn a massive income. It is crucial to determine the correct method and the right way of implementation.

In the end, the investor can get a sum in return. If you check the daily transactions, you can observe that people worldwide have faith in it, and they are investing too. In case of adoption, BTC is beating BCH.

People do not rely much on BCH, and hence, they are not getting enough profits. The transaction cost is relatively minimum in Bitcoin. It is one of the biggest reasons for investing and exchanging currency in it.

If we compare the speed of the transaction in both cryptocurrencies, then BTC is faster than BCH. High transaction speed is the massive reason for many people to adopt it. The blocks are placed in a queue, and all the transactions take place in an order.

If you want to prioritize the blocks, then you have to pay extra money. If you pay more, the exchange will be done quickly. On the other hand, BCH can carry more transactions in blocks. The cost of the transaction is comparatively less than BTC.

Therefore, many people prefer investing in it. Many individuals think it is hard to meet their requirements if they use BTC for millions of transactions. It is a significant factor where the Cash is leading Bitcoin.

In Bitcoin, the block size is small, and in Cash, the size is large. According to different sizes, it can hold a different number of transactions. With the advancement in technology, both cryptocurrencies need to scale up.

They want to increase their block size and utilize more technologies for increasing efficiency. If we talk about the size of the block of BTC, then it is one megabyte. It can hold millions of transactions at the same time.

Whenever any user asks for the exchange, his request gets attached in the queue. All the miners require high computing power to solve complicated algorithms and equations of these cryptocurrencies. The block size matters a lot when you are deciding to make any investment.

It is crucial to get enough knowledge about the block to know how various methods take place. The size of the block plays a vital role in dealing with transactions efficiently.

Comparing Bitcoin and Bitcoin Cash is quite crucial before making any investment. If you are planning to buy any asset, you must know whether it is profitable for you or not. Many people are aware of various cryptocurrencies, but some differences make them decide to invest differently.

Undoubtedly, no digital currency can beat BTC, but BCH is the similar one with variant functionalities. It is crucial to understand their common differences for deciding on the investment. Go through complete details to make a wise decision. If you want to make frequent transactions at a low price, you must decide which one is better.

Every person has different requirements, and you can choose any digital currency that fulfills your needs. Make the right choice to get massive profits in your future. Initially, if you make the right decisions, then only you will have a better future.

Tesla has captured headlines seemingly non-stop these days. With recording breaking numbers throughout the tumultuous year that was 2020, and the continued development of its impressive software, the EV giant seems to be flying high while it dominates the electric vehicle market. 

However, Tesla’s recent purchase of Bitcoin has critics quick to jump on the California-based automaker for not considering the environment before making dishing out $1.5 billion 

Last week, Tesla announced that it purchased $1.5 billion in Bitcoin, putting the world of cryptocurrency and its follower into a frenzy as Bitcoin skyrocketed to an all-time high. Tesla also announced its plans to accept the currency as a form of payment in exchange for services and products, in an SEC filing.

Now the automaker is under scrutiny for its decision to purchase the cryptocurrency and accept it as payment. All while trying to further the adoption of lower-CO2 alternatives to ICE vehicles.

Bitcoin uses “mining” to process transactions, and it can be very energy-intensive. The “mining” process is causing some critics to point fingers at Tesla saying the promotion of the cryptocurrency adds to its carbon footprint.

It seems a little extreme, and recent reports show Bitcoin’s evolution into one of the most eco-friendly cryptocurrencies you can buy. Some studies even showed “around 75% of Bitcoin mining was powered by renewable energy sources.” Although Bitcoin carries immense money-making potential and incredible benefits, it’s always wise to be aware of your cryptocurrency’s carbon footprint.

A major financial regulator in Thailand is looking to determine qualifications for cryptocurrency traders to ensure investor protection.

The Securities and Exchange Commission of Thailand has scheduled a public hearing this month to address specific requirements for investors who want to open a crypto trading account, local news agency The Bangkok Post reported Monday.

By initiating the new qualification system, the Thai SEC intends to ensure that new retail investors moving into crypto trading have sufficient financial resources to absorb risks from the highly volatile prices of crypto.

The Thai SEC’s secretary-general, Ruenvadee Suwanmongkol, hinted that Thailand’s upcoming crypto investor qualification could involve requirements such as age, trading experience and financial knowledge as well as certain wealth levels:

The official also noted crypto investors should be well informed about the risks of cryptocurrency trading. “Digital assets are a big challenge, not only in Thailand but for global regulators,” she added.

The new qualification system apparently came under the impetus of Thai Finance Minister Arkhom Termpittayapaisith, who asked the SEC to supervise local digital exchanges to protect new investors. Local authorities are specifically concerned about novice crypto investors moving into the industry amid a massive surge of cryptocurrencies like Bitcoin (BTC).

Last week, Termpittayapaisith expressed concerns about surging crypto trading volumes in Thailand, warning investors of the massive risks associated with crypto trading. “Cryptocurrencies have enormous risk," the official said. "Risk awareness will help those investors in avoiding excessive speculation on those assets.”

According to data collected by The Bangkok Post, crypto purchases by Thai retail investors have been consistently increasing, from 500 million baht ($16.7 million) in November 2020 to 1.1 billion baht ($40 million) in January. The SEC reportedly said that the number of new crypto investors surged by 124,000 accounts in the first week of February, totaling nearly 600,000 accounts as of Feb. 8.

MasterCard To Support Digital Currencies

The world’s leading online payment services provider MasterCard has announced that it is planning to integrate cryptocurrencies on its platform this year. With the support for cryptocurrency, Mastercard would allow its high volume of global users to use digital currencies for purchases at over 30 million merchants on its network.

Bitcoin and other crypto tokens have found mainstream attention in the past year as the global economies are fast transforming to a digital avatar. With the increased use of online payments across industries and increased awareness regarding cryptocurrencies, mainstream players like PayPal are integrating Bitcoin and other leading cryptos like Ether, Tether etc. on their platforms to target the next generation of digitally-savvy customers.

Mastercard followed the footsteps of arch-rival Visa, which announced supporting Bitcoin and other cryptos on its network last month. The payments giant wants to tap the digital assets market to cater to the large customer base, which is migrating to cryptocurrency. Lately, investors and even public (to some extent0 have begun to lose trust in fiat currencies.

MasterCard said that they are not recommending people to start using cryptocurrency but giving them a choice. The firm wants to enable its businesses, customers, and merchants to leverage the digital assets sphere and ‘move digital value’.

While MasterCard did not reveal which digital currency it is going to support, it has expressed that likely it would support stablecoin as they are secure and reliable. The firm would assess the various assets on strict criteria to deliver reliable services to its clients. The payments giant is in talks with leading central banks for contributing to Central Bank Digital Currency initiatives across the globe. The firm said that they would ascertain the eligibility of cryptocurrency assets based on due KYC completion, adherence to jurisdictional laws and consumer security, and stability.

Trading in the bitcoin is not a game of kids. You do require a expertise in order to make a lot of money from bitcoins. There are a lot of players who have become billionaire with the help of bitcoin trading nowadays. If you are also willing to be the next millionaire by trading in the bitcoin, it is very important for you to have the knowledge about it. You cannot become rich with the help of bitcoin if you do not have the expertise knowledge and tips that are used by experts in order to trade in the bitcoins in the best way possible.

At first, bitcoins were only made for day to day transactions but as soon as its price took a hike, it was no longer available for the common people to use as a medium of exchange. Now, due to this highest price of the bitcoin, this is used as an investment option or an asset. If you are also willing to make money out of bitcoin trading, you will need to get help from the experts. In case, an expert is not available in your help, we are here to help you. We are going to provide you with some very important tips that you can use in your bitcoin trading strategy to make money out of bitcoins and become the next millionaire.

In order to make you well aware about the tactics that are used by experts, we are going to unleash some very important tips that are used by them. Make sure to read down the tips that we are going to tell you about in the forthcoming points so that you can also make profits from trading in the bitcoin.

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A surge in the number of cryptocurrency traders in Thailand has resulted in a lot of criticism coming from top financial regulators and the country’s authorities.

According to a Bloomberg report, Thailand’s Finance Minister Arkhom Termpittayapaisith recently revealed that retail investors in the country are excessively speculating on cryptocurrencies.

This increase is a cause of concern to the authorities as they believe that the surge may lead to instability in the country’s capital markets.

This move has led to a massive increase in the number of crypto trades in the country. Data shows that the number of cryptocurrency trades made in Thailand’s licensed exchanges went from 19 billion baht [$636 million] to 65 billion baht ($2.17 billion) in January within a space of just one month.

Considering the citizens’ interest in cryptocurrency, Arkhom said,

“Cryptocurrencies have enormous risk. Risk awareness will help those investors in avoiding excessive speculation on those assets.”

While the country’s financial regulatory authorities are frowning upon the recent surge in cryptocurrencies, the report also mentioned that they are “open to new financial instruments including cryptocurrencies and other digital assets as companies’ new funding channels.”

Thailand is experiencing this surge due to the high number of young traders going into the crypto community and trading on various cryptocurrency exchanges in the country showing that the crypto community attracts more young traders than older ones.

These young investors found solace in cryptocurrency trading as a tool to combat the inflations caused by holding fiat and also as a” hedge against the [COVID-19] pandemic-induced crisis.” 

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Some of DeFi’s biggest players have joined forces to launch a new alliance geared towards furthering the education, research and best practices of the nascent industry. 

The GoodFi alliance, launched by Radix, includes crypto projects Chainlink, Aave, and mStable, as well as digital analytics company Messari.

Piers Ridyard, CEO at Radix, told Cointelegraph that GoodFi “enables companies operating in the DeFi space to collectively work to solve the issues facing a wider base, starting with the generally “crypto-engaged” but building to a mainstream audience.” As members of GoodFi, companies can share strategies and communal knowledge for attracting new DeFi users.

Their mission is to get 100 million people to put at least $1 into DeFi applications by 2025. To achieve this objective, the alliance has prioritized education to help raise awareness of the utility behind DeFi applications.

Ridyard explained:

Decentralized finance was one of crypto’s most remarkable growth stories of 2020, with projects like Chainlink and Aave leading the charge. LINK is now the world's ninth-largest cryptocurrency with a market capitalization of $11.3 billion. Meanwhile, AAVE is in the fourteenth spot following 500% year-to-date returns. 

At the time of writing, nearly $55 billion had been locked into DeFi projects across a range of applications and use cases.

Although DeFi has yet to lure a wider mainstream audience, early crypto adopters have been attracted to the idea that traditional financial services can be recreated or improved upon using blockchain technology. For that reason, DeFi is expected to be one of the hottest industry verticals moving forward.

Ridyard believes getting people to put $1 into DeFi projects is akin to early internet adoption. “Getting homes connected is the hardest part,” the alliance said of the internet in the 1990s. “With DeFi, getting the users to put their first $1 in is the very hardest step.”