Is there any doubt that we are in the early stages of a crypto bull run? Pick a metric, any metric, and chances are it points to that.
For example, the total value locked in DeFi has never been higher. Equally, the total crypto market cap is also hovering in and around its all-time high of $1.1 trillion.
Despite the flurry of crypto noobies popping up on social media, the reality is, retail investors still aren’t here yet. At least not to the same degree as three years ago, during the previous bull run.
A look at Google Trends confirms this. Searches for the keyword “cryptocurrency” are projected to hit 56 by the end of January 2021. While this is a bullish sign, it’s still some distance from January 2018 levels.
Back then, the ICO craze and retail FOMO, often by unsophisticated investors looking to make a quick buck, drove the market upwards.
But this time around, it’s the institutional investors who are the driving force behind this bull run.
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