Of the top 10 cryptocurrencies, Solana was the big winner in the ranking with a return of 24.3%. They are followed by: Cardano with 18.5%, Terra with 15%, Polkadot with 12.8%, Avalanche with 11.7% and Ethereum with 10.4%. While below the Inflation of the month of March were found: Binance Coin with 5%, XRP with 3.8%, Bitcoin with 2.7% and USC Coin with -0.04%.
The following table shows us the Absolute and real Yield of the 10 Cryptocurrencies surveyed, where Solana, which had a real Yield of 24.3% and Absolute Yield of $4,622.65 taking its price at the beginning of the month of March 2022 and at its closing.
“A significant portion of Argentines, given the decline in financial dollars that occurred in the last 2 months and the loss of purchasing power of the Argentine peso due to inflation, have bet on DEFI (decentralized finance) that offer returns in cryptocurrencies of up to 15%. Those who were preserving their cryptocurrencies as a store of value find through this mechanism a means to obtain a return on their crypto assets,” Di Pace said.
“While at the beginning of the year 2022 the inflation expectations were of a closing of 54.7%, today the market sees it at 61%. With an Inflation that March 2022 compared to March 2021 that exceeds 55% in the case of Solana the actual return was 711% YoY, Ethereum was 120% and Luna 609%. Given the insured loss of the loss of value of the Peso, Argentines invest in the volatility of cryptos rather than in the insured loss offered by our local currency. ” he concluded.
Source: Ambito
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