Simon Yu: “crypto adoption has increased significantly in the current bull cycle”

StormX CEO Simon Yu believes that the current bullish cycle is different from Bitcoin’s growth in 2017 – cryptocurrencies have become much more popular among all categories of users.

Cryptocurrencies are used much more often. In addition, the areas of decentralized finance (DeFi) and collectible tokens (NFT) have attracted a lot of attention. Simon Yu noted:

“The popularity of cryptocurrencies has grown steadily, but after 2017, many have had a bitter aftertaste after the market fell rapidly. In 2021, it became clear that things are different now. The integration of cryptocurrencies into various aspects of daily life provides an opportunity for the entire industry to grow. Digital assets are no longer just investment assets, they are becoming a serious alternative to fiat currencies and people are beginning to understand this. ”

StormX CEO stressed that companies no longer come up with artificial use cases for cryptocurrencies. Now, support for cryptocurrencies is added simply to make their services more convenient and popular. This, Yu says, was also influenced by the coronavirus pandemic, which gave people time to pay attention to something new and interesting.

At the moment, the rate of the first cryptocurrency has dropped to $ 35,000, and, according to Dan Morehead, CEO of a large cryptocurrency hedge fund Pantera Capital, this is a great chance to increase your BTC holdings.

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