Wednesday, January 19, 2022

Global cryptocurrencies will record sharp growth in 2021 -BarclayHedge

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New York, Jan. 14 () – BarclayHedge, a division of Backstop Solutions, said last year that many digital currencies were driven by strong institutional interest and increased acceptance by regulators, with bitcoin and ether-driven prices rising. global cryptocurrency funds grew sharply after the collapse.

The BarclayHedge cryptocurrency traders index rose 138.1% for 2021, according to data released by the firm on Friday, showing results for about 39 funds or 50% of digital asset management companies. showed less. This followed a record growth of 173% in 2020 as the crypto-funded coronavirus pandemic benefited from the extreme volatility that has occurred in financial markets.

Bitcoin grew 60 percent in 2021 as it reached a record $ 69,000 in November, while the token used for the Ethereum blockchain grew by about 400 percent.

“It simply came to our notice then. Bitcoin is no longer seen as an esoteric digital currency used only by technologists and cypherpunks, ”according to CoinDesk’s annual review of crypto and blockchain for 2021.

However, for December, cryptocurrencies showed losses of about 11% as bitcoin and ether also fell. Bitcoin fell 19 percent last year and ether fell 20 percent.

Ben Crawford, head of research at BarclayHedge, said: “Crypto was the only small sector that didn’t make money in December as many of the industry’s major assets suffered from a sharp drop in prices”.

The currency, which is a more traditional relative of the crypto, on the other hand, brought modest gains in 2021.

The BarclayHedge currency trader index rose 2.2 percent last year, based on 60 percent of reported funds. There are currently 40 FX programs monitored by BarclayHedge.

Growth for foreign exchange funds in 2021 will be 4% in 2020. Revenues fell last year as global central banks cut interest rates and reduced volatility.

At the same time, the income of foreign exchange funds in December anemia increased by 0.23%. (Interview with Gertrude Chaves-Dreyfus; edited by Alden Bentley and David Gregorio)

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