What’s Driving Bitcoin? Innovation and the Growth in Stablecoins

  • Bitcoin transactions are too slow. No problem — let’s build a lightning network along with additional payment layers. We’re now as fast as Visa.
  • Bitcoin doesn’t pay a yield. No problem — we’ll build DeFi. You can freely lend and borrow crypto assets. You can even return 8% per annum on a USD stable coin.
  • The regulators want KYC and AML checks. No problem — dozens of solutions will confirm identities at the touch of a button.
  • It’s hard to deal with the banks. No problem — introducing stablecoins.

Rising bond yields

Bitcoin still likes a rising bond yield

Source: Bloomberg. Bitcoin and the US 10-year bond yield past year.

Show me the growth

On-chain network value transfer is back to January levels

Source: ByteTree Terminal. Total transaction value transferred over the Bitcoin Network, vs price, 1-week cumulative rolling, since April 2020 to date.
Source: ByteTree Asset Management.

Google search “buy bitcoin”

Source: Google.




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Applied data for digital asset investors. ByteTree provides real-time data, fundamentals, technical and deep blockchain market analysis for Bitcoin, and more.