Crypto, NFTs are a lifeboat in the sinking fiat system: Finance Redefined
Risk appetite in traditional and cryptocurrency markets increased significantly, leading to over $7.5 billion in inflows into U.S. cryptocurrency funds this week. Bitcoin surpassed its previous all-time high on May 21, following positive news regarding ceasefire negotiations between Russia and Ukraine. Analyst Raoul Pal emphasized the importance of investing in cryptocurrencies and NFTs to protect against fiat currency debasement, stating that these assets will not be this cheap again. U.S. crypto investment products saw $785 million in investments last week, marking five consecutive weeks of positive inflows. VanEck plans to launch a private fund targeting Web3 projects on the Avalanche blockchain. Yield-bearing stablecoins reached $11 billion, representing 4.5% of the stablecoin market, with Pendle leading in total value locked. Tether surpassed Germany in U.S. Treasury holdings, now holding over $120 billion in Treasury bills, highlighting its reserve management strategy. Most major cryptocurrencies ended the week positively, with Worldcoin gaining over 32%.
