7 Crypto Charts To Look Back On 2020 – Skew Research

7 Crypto Charts to Look Back on 2020

1. GBTC Total Assets Under Management Passes $10B

The Grayscale Bitcoin Trust surpassed $10B in total assets last month. Grayscale allows pension funds and larger institutional entities to easily invest in Bitcoin for a premium. A growing demand for GBTC means family offices and institutional players are taking a chance on GBTC.

2. CME Bitcoin Options Open Interest Passes $1B

Institutional interest grows as options traders push the CME’s open interest over $1B.

3. Hedge Funds and Other Institutional Players Enter the Space

Hedge funds look to participate in the cryptocurrency market as record numbers of short positions are placed on the CME.

4. Total Bitcoin Options Open Interest Passes $4B

Bitcoin options are the fastest growing crypto derivative product with total open interest increasing 10x this year.

5. USDC Stable Coin Passes $3B Market Cap

As crypto interest providers become more prominent, traders have a greater incentive to retain a portion of their trading profits into USDC and other interest yielding stable coins.

6. Total Value Locked in DeFi Protocols Passes $10B

One of many bullish charts for the collective DeFi space. As Bitcoin and Ethereum increase in the bull market, speculators take profits to try their luck in the riskier DeFi assets in the crypto landscape.

7. Wrapped Bitcoin on Ethereum Passes $2b

Users must temporarily ‘wrap’ their Bitcoin to gain access to certain aspects of the DeFi ecosystem. An exponential growth in the amount of wrapped BTC reflects the growing interest in the DeFi ecosystem.

Conclusion

While derivatives traders swing the price of Bitcoin around in the short-term, the fundamentals and the charts displayed in this article highlight the continued growth within the cryptocurrency industry. All chart data can be found at skew.com.