Crypto hedge funds made huge profits in 2020. It was stated that hedge funds, which were announced to double their revenues, increased thanks to the rise in Bitcoin and DeFi platforms.
According to the news shared by the Reuters news agency, crypto money hedge funds performed well during the year and doubled their revenues due to the increase in Bitcoin and the increase in the possibility of making crypto money without banks. Visions Hill Group is among the prominent hedge funds in the news of the agency. Visions Hill Group announced that it has recorded a 126% arrival increase since September 2018.
What’s in the Vision Hill Group report?
The company shared its net increases seen in the first quarter of 2020 in its report. Accordingly, VH-ACI increased 8.8%, VH-ACIF 2.4%, VH-ACIQ 17.3% and VH-ACIO 16.9%. In the same quarter, it was stated that Bitcoin decreased by 10.5%, Bitwise 10 Large Cap Crypto Index (BITX) by 7.7% and Bloomberg Galaxy Crypto Index by 1.5%.
It was stated that actively managed hedge funds performed better than passively holding Bitcoin, according to the performance compared to the beginning of 2018. In a statement made by the company’s CEO, Scott Army, it was stated that the emergence of DeFi platforms and the rise of cryptocurrencies also contributed to the increase in hedge funds.
What does DeFi data say?
According to DeFi Pulse data, the total TVL value on the platforms reached $ 10.89 billion. Among 44 DeFi platforms, Uniswap appears to be at the top with $ 2.66 billion. According to DeFi Pulse statistics, Uniswap’s percentage of dominance in the DeFi system was 24.40.
The increase seen in DeFi is reported by Reuters as it has increased 180% since August. On the subject, it was stated that Michael Anderson, the founding partner of Framework Ventures company, believes that DeFi platforms have more volume than other major crypto currency exchanges and will grow more soon.