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Never Been More Excited For the Future of Crypto

Why Q2 was one of the best quarters crypto has ever experienced - despite the price decline

Fabian Klauder

Jul 2, 2021

Hey DEFI TIMES community,

Q2 has been a crazy quarter. We’ve seen everything from insane price pumps, market crashes, to meme coin hypes.

However, despite the recent price crash, Q2 was one of the best quarters crypto has ever experienced. Why? Ryan Selkis describes this in his recent Twitter thread.

0xRyanSelkis @twobitidiot

1/ I've never been more excited for the future of crypto than I am right now. Q2 has been a bit of a shitshow, but that doesn't take away most of the progress that's been made. 👇

Q2 had amazing milestones we never imagined to happen during the past years:

Coinbase IPO
Wall Street entering crypto
Institutions showing real interest

0xRyanSelkis @twobitidiot

3/ We had major milestones like the Coinbase IPO. Wall Street started to seriously initiate coverage on bitcoin and other top assets. More institutional managers went from 0 to 1 - directly or via mammoth investments to crypto VCs like a16z.

Of course, there were also pretty negative events in Q2 - as the China FUD. Or was it really negative?

Well, China banning Bitcoin has been a long-awaited event. We have been expecting it for years. China’s uncertainty has been a continuous source of FUD, which has been completely eliminated - for now!

In fact, miners leaving China have also increased the overall environmental friendliness of Bitcoin mining - some of the dirtiest mining was happening in China.

0xRyanSelkis @twobitidiot

4/ Bitcoin ran into two headwinds that were arguably healthy (THIS IS ACTUALLY GOOD NEWS). 1. The ESG stonewall 2. China bans bitcoin Both were meaningful de-risking evenet for the entire ecosystem, and we made it through unscathed.

Q2 was one of the best months in crypto’s history so far.

It’s only up from here?

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German Crypto Law

DEFI TIMES @defitimes

German law could bring as much as $415B Into Crypto! 🔥 Read more! 👇 defitimes.io/news/new-germa…

defitimes.ioNew German Law Could Bring $415B Into Crypto - DEFI TIMESTaking effect on July 1st, the Fund Location Act permits certain special funds to invest up to 20% of their portfolios into crypto assets.

New German crypto law could bring as much as $415 billion into the crypto industry.

Jack and ETH

DEFI TIMES @defitimes

.@jack doesn't think #ETH is a good investment! Read here! 👇 defitimes.io/news/jack-dors…

defitimes.ioJack Dorsey Still Doesn’t View ETH As A Good Investment - DEFI TIMESVery recently, Twitter announced to release NFTs on Rarible - an Ethereum native platform. So, is Bitcoin Maxi Jack Dorsey bullish on ETH? No!

Jack Dorsey remains an ETH skeptic - even though Twitter released NFTs on Ethereum!

Nansen + a16z

DEFI TIMES @defitimes

BREAKING: @nansen_ai raised $12 million in a funding round led by @a16z! Read here! 👇 defitimes.io/news/nansen-ra…

defitimes.ioNansen Raises $12 Million from Andreessen Horowitz - DEFI TIMESNansen has raised 12 million dollars in their series A funding round, which was led by Andreessen Horowitz.

Nansen, a popular blockchain analytics platform, has raised $12 million in a funding round led by a16z.

Crypto.com

DEFI TIMES @defitimes

BREAKING: @cryptocom introduces USD deposits! 🔥🚀 defitimes.io/news/crypto-co…

defitimes.ioCrypto.com Introduces USD Deposits And Withdrawals! - DEFI TIMESCrypto.com partners with Circle. Crypto.com users can now transfer USD from their bank accounts and receive USD Coin (USDC). The ratio in the Crypto.com App and Exchange is 1:1. Crypto.com Co-founder and CEO, Kris Marszalek, stated: “Historically, transferring fiat into and out of crypto platforms …

Crypto.com has enabled USD deposits!

Hermez Mobile Wallet

Hermez Network @hermez_network

📱 The Hermez Mobile wallet is now live For iOS and Android! Read all about this important release here 👇 blog.hermez.io/hermez-mobile-… #Hermez #Ethereum

blog.hermez.ioThe Hermez Mobile Wallet Is Now Live For iOS And AndroidWe are incredibly excited to announce a major release today. Our mobile app is now available for iOS (on App Store [https://bit.ly/hermez-ios-wallet]) and Android (on Google Play [https://bit.ly/hermez-android-wallet…

Hermez Network has released its first mobile wallet for users. It lets mobile users easily transfer tokens on layer 2.

Lyra on Optimism testnet

Lyra @lyrafinance

Lyra is now live on the Optimism Kovan Network, the Layer 2 scalability solution from the @optimismPBC team!

blog.lyra.financeLyra TestnetLyra is excited to announce that we have deployed to OΞ testnet and invite you to come and check out our trading dApp.

Options AMM protocol Lyra launched on Optimism Kovan testnet. It will host a trading competition starting in about two weeks.

Binance + Polygon

Kadirski ⛓ | FinTech | $MATIC to $10 @kadirrr61

Finally! @binance supports the @0xPolygon network. @cz_binance heard the voice of our big community $MATIC

Binance now supports Polygon deposits!

Coinbase USDC savings

Coinbase News @CoinbaseNews

🤩4.0% APY on USDC!🤩 USD Coin is a safe and secure stablecoin that's backed by the US dollar. Soon, eligible users will be able to earn 4.0% APY on their USDC, which is pretty great if we say so ourselves. Pre-enroll now → bit.ly/3dr65BY

Coinbase has added a USDC savings product that earns users 4% APY upon USDC deposits.

Compound Treasury

Compound Labs @compoundfinance

We're proud to announce Compound Treasury, designed for businesses and financial institutions to access the benefits of the Compound protocol. The idea is simple: a fixed 4% APR on US dollars, with daily liquidity and none of the complexity of crypto.

medium.comAnnouncing Compound Treasury, for Businesses & InstitutionsOver the years the Compound protocol has been used by hundreds of thousands of DeFi users to safely earn attractive interest rates on over $120 billion of crypto assets. Through market volatility…

Compound Treasury launched for businesses and institutions to access DeFi - It offers 4% APR on USDC.

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DISCLAIMER: All information presented above is meant for informational purposes only and should not be treated as financial, legal, or tax advice. This article's content solely reflects the opinion of the writer, who is not a financial advisor.

Do your own research before you purchase cryptocurrencies. Any cryptocurrency can go down in value. Holding cryptocurrencies is risky.