Inflation March 2022: performance of cryptocurrencies

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Cripto en 1 minuto: ¿qué inversión le ganó a la inflación de marzo y como le fue a las criptomonedas?

Damián Di Pace, director of Focus Market, reveals the performance of crypto assets and other instruments over the last month

Front of inflation escalationwhich reached 6.7% in March, cryptocurrencies appear more than ever as an alternative solid savings for Argentines.

About, Damian DiPace, economist and director of the consulting firm Focus Market explains that, despite the volatility that cryptocurrencies had in March, in the face of inflation like the current one, Argentines “continue to find in these assets a greater refuge of value than in the Argentine peso.”

How did cryptocurrencies fare against inflation in March?

The performance of cryptocurrencies in March

The following chart shows the top crypto performance during this time:

Of those plotted, only Solana (24.3%), Cardano (18.5%), Terra (15%), Polkadot (12.8%), Avalanche (11.7%) and Ether (10.4%) were able to beat inflation.

Di Pace reflects that the Bitcoin (BTC) could not beat inflation in this period with only a 2.7% yield.

Another picture shows the absolute yield in pesos vs. real yield in percentage terms of each of the cryptocurrencies surveyed by the consulting firm Focus Market through the Crypto Buenbit INDEX.

Source: Focus Market

Source: Focus Market

Return of the dollar in the face of inflation

For its part, according to the economist, for those who bet on the dollar in March, the parallel fell 5.5% in the third month of the year, so it was down in this period.

Also, despite the According to the International Monetary Fund (IMF), local bonds were not for the good, since “they continue to remain with an average parity of US$32, with a return below inflation of 3%Di Pace synthesizes.

How many Bitcoins are left in the market?

On the other hand, say pace, economist and director of the consulting firm Focus Market revealed that on Friday, April 1, a “historic” event occurred for the Bitcoin community, since the 19 millionth BTC was extracted that day.

Explain that so only 2 million Bitcoin left to be mined from now until the year 2140. The following graph denotes the evolution of BTC in circulation from 2009 to 2022:

Source: Blockchain.com

Source: Blockchain.com

“In this way, there are only less than 10% of the bitcoins available to mine in the next 118 years, considering that by 2040 99% of BTC will be mined and only 1% will be mineable between then and 2140. That is, only 1% remaining for 100 years,” says Di Pace.

Next Bitcoin halving in 2024

This other graph represents the bitcoin issuance rate over time:

Source: Cointelegraph

Source: Cointelegraph

“Until the first halving, it rewarded 50 BTC per block, then 25, then 12.5, until reaching the current emission rate of 6.25 BTC per block,” describes the analyst, regarding the operation of the cryptocurrency reward system.

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Crypto in 1 minute: which investment beat March inflation and how did cryptocurrencies fare?

The next rate cut in half is scheduled for the year 2024, where it will go to 3.12 BTC per blockDi Pace synthesizes.

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