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About the talk
Joe Vezzani of LunarCRUSH kicks off day 1 of the 7th annual LA Blockchain Summit with an overview of how the market is looking like the morning of Tuesday, October 6th.
LA Blockchain Summit is hosted and produced by the Los Angeles-based blockchain venture studio, Draper Goren Holm.
Joe has an extensive background working in across finance, technology, advertising, sales, marketing, and start-ups. Since finding cryptocurrency in 2015 Joe has not looked back, a long-time hold’er he believes anyone building in the cryptocurrency space is building a better future.View the profile
Hello, everyone is welcome to the 2020. La blockchain Summit. My name is Joe, pisani on the founder and CEO of lunarcrush. What a pleasure. It is to kick off a fun-filled. Two days where I know we all look like Italy. Moved this amazing industry. We call home forward today. Have an opportunity to give a quick market update. It's been 1 year since the last La blockchain Summit. So let's see what changed in 2020. Not a whole lot. Right before I do, this is not Financial advice. The lawyers always make you do it. Let's get started as many of, you know, at lunarcrush, we like to say it
without a community, there is no crypto and it's because crypto is truly driven by the community not earnings reports or technical analysis and we are always on. We have a truly Global industry. So what did that industry? Look like so far in 2020 on the blue line? You're looking at the total market capitalization for the entire crypto-currency Market. The total cap of the industry in 2020. Add event at the beginning of 2020 at 190 billion dollar market value. Running the numbers based on this previous weekend. The entire Market is now worth roughly 342 billion. This means we seen an
80% increase in the value across the industry. Since January 1st, this isn't against the market bottom. We saw on March 16th for the flash crash, took his down to 142 billion. Which gives us a roughly 140% recovery off the bottom on the Orange Line. You're looking at all the conversations that happened in the cryptocurrency industry across social media platforms. Like Twitter Reddit YouTube medium and new sites in 2020, there was an average of 217000. Mentions across social media, for cryptocurrencies. Each day, we keep record when people mention things like hashtag BTC dollar
sign xtz or things like aetherium. We also use crypto specific machine learning to remove spam. So what drove social wild in 2020? Do you want might feel like forever ago but it was only late January when the first case of covid-19 was confirmed in the u.s. what was the beginning of the conversation around cryptocurrency. Peanut potential hedge against the uncertainty on a global scale. Could it be a reality now? Very shortly after in the first half of March, we were all rushing out to buy toilet paper, covid definitively ended the conversation about crypto and
specifically Bitcoin as a global non-correlated asset. In fact, the data has proven the exact opposite 2020 as we continue through March. The second largest social event of the Year happened on Jack dorsey's, cash out to the largest-ever until today between give away. So she went crazy with the first 500019 day. It was March 20th. Bitcoin was $6,000 coin. I hope you got yourself. Some As the equity Market began recovering. So did the cryptocurrency market with all eyes pointed at May 11th the third having a Bitcoin there. A modest 350,000 mentioned that day ended up being
the fifth largest day thus far in 2020 Summer was quiet from a price perspective, but the conversations kept chugging along everything 207,000, cryptocurrency mentions until the number one event online of 2020. How Could You Forget to ice it? How could we forget July 15th, when Apple, Uber Elon Musk and President Barack Obama to name a few all tweeted about Bitcoin say what you like, but the hacking of Super Bowl ad awareness to cryptocurrency completely free of charge the following two months to be summarized in two words, decentralized Finance, but
you can't help, but notice the stars. Align from a perspective for the defy, kick-off, the fourth largest event in social media happened. At August 13th. When newly minted Trader? Dave, Portnoy made the leap from equities in the crypto by speaking publicly that he was all in our industry with a heavy trailer, following social went while. This obviously ended up being close to an interim top. But again, what? Great publicity for the crypto-currency market, one more thing. I'd like the thing. I'd like to point out, its the substantive drop-off and mentioned. We saw starting at the
beginning of September Racine previous time. Like this, which always end up in a price to flation. You can check out more ludicrous. Calm C real-time access on 2,000 points quickly. Before I move on, I'd like to know how the cryptocurrency market performed against the broader Equity Market. I don't believe it's a fair comparison to put cryptocurrency against against things like Industrials or the S&P 500 for that matter or wanted to see to look at is a NASDAQ 100, top 100 stocks in the tech industry, you can see the same crypto market cap, in blue, And the NASDAQ 100
grain in 2020. The world's best tech stocks in cryptocurrencies. We're over 92% correlated just some food for thought. For those of you who are in the beginning of placing your best secret, do a lot of talk about Bitcoin this far with Bitcoin wasn't the story this year. Especially in the niche market in our community. No one was talking about Bitcoin. There was a huge, The Virgins and dominance starting in mid-june with Bitcoins dominants, hovering at some of the lowest levels and currently under 60%, why I'll give you three guesses and the first two, don't count. Define
did make the difference June. 15th marked the beginning of the defy bull run across, we felt it too. We started receiving over 20 request a day with new projects, wanting to be listed and compound. Mark the beginning of the rise on June 15th, with prices moving up, considerably over the next two months. After finally, taking a breather at the beginning of September. However, based on the capital being invested in this, in this sector, I believe. It still has a lot of room to run. A quick glance at DFI value, lock, and defy from our friends at DFI Paltz reinforces the dip in Bitcoin
dominance, starting on June 15th. And the prices they don't disappoint either with some new and old faces pushing Innovation and building amazingly disrupted businesses that will be here for years to come. Here are a couple of the name, a few compound who's helping /, 1.8 billion in assets. Turn interest has a six-month price change sitting above 50%. You're in finance at Gateway, which is a decentralised platform of Youth. Farming opportunities has performed exceptionally well, over the last six months Celsius, who is building a bee to be decentralized lending, and borrowing
platform has seen quite the run up. And then finally will Spotlight Ave, which is open source and non-custodial protocol a Navy in the creation of money markets. That you could see barely nudged out there, 20 performance of the last six months as well. Thank you everyone for listening and have an amazing conference filled with positive discussions. We are all here to work together and challenge ourselves and each other to be better. And remember if there's no crypto without a community, this is Giovanni from their Crush dying off. Thank you, everyone.
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