🐺 Former 'Wolf of Wall Street' J. Belfort recently admitted that he was wrong about crypto's impending doom

🤪 US crypto investors expected more from this cycle - study 🐺 Former 'Wolf of Wall Street' J. Belfort recently admitted that he was wrong about crypto's impending doom 🖼️ A new competitor is trying to take away OpenSea's dominance in the NFT market

GM, vEmpions! Our motto of the day is: "The more , the merrier!".  We strongly believe that DeFi is the future of finance and that everyone should get involved in it as soon as possible. The more people adopt crypto, the better it is for the industry as a whole. Check out our recap of the weekend news, in case you missed it

🤪 US crypto investors expected more from this cycle - study 🐺 Former 'Wolf of Wall Street' J. Belfort recently admitted that he was wrong about crypto's impending doom 🖼️ A new competitor is trying to take away OpenSea's dominance in the NFT market

US crypto investors expected more from this cycle - study

As the crypto winter drags on, it seems that many US investors are regretting their decision to invest in digital assets. A recent study conducted by Blockchain Capital shows that almost half of all respondents are disappointed with how this cycle has turned out.

The research, conducted by the Pew Research Center, found that 46% of American crypto investors believe that their investment has done worse than expected. This is in contrast to the 15% who say that their investment has turned out more successful than they thought.

This lack of significant change in the number of investors is despite the fact that crypto reached its all-time high marketcap in November and then experienced a bear market in the months that followed.

With bitcoin down over 60% from its all-time high and some most major altcoins down even further, it's no surprise that many investors are feeling frustrated. What is surprising, however, is that 31% of respondents said they expected this outcome.

This means that almost one-third of investors were fully aware that their investment might not pan out as planned. And yet, they still decided to put their money into digital assets.

Why would anyone do this? Well, it could be because they believe in the long-term potential of cryptocurrency. Or, it could be because that they were caught up in the hype of the bull run and expected prices to continue to rise at an unsustainable rate. However, as we have seen time and time again throughout history, markets always correct themselves and those who were late to the party are often the ones who suffer the most.

So, if you're thinking of entering the world of cryptocurrency, be sure to do your research and don't expect to get rich quick – or you will end up disappointed like many of the hot headed investors in this study.

Former 'Wolf of Wall Street' J. Belfort recently admitted that he was wrong about crypto's impending doom

It looks like even the "Wolf of Wall Street" can be wrong sometimes. Jordan Belfort, who is known for his role in pumping and dumping penny stocks and being portrayed by Leonardo DiCaprio in the movie about his life, recently admitted that he was wrong about cryptocurrencies.

In an interview with Yahoo Finance, Belfort said that his original assessment of crypto was based on the view that it was a scam. However, he now believes that crypto assets have real potential and are worth investing in. Belfort stated: “At the time that I really hated crypto, I stand by everything I said about crypto in 2017 except for one thing, I was wrong about Bitcoin going to zero but I didn’t look closely enough because I just said it’s a scam because it just seemed like that”.

Interestingly, Belfort's change of heart comes after the 2018 crypto winter. During this time, the prices of cryptocurrencies plummeted, leading many to believe that the asset was in a bubble.  However, Belfort believes that Bitcoin has since recovered and is now trading more like a store of value than like a stock.

It's good to see that even the "Wolf of Wall Street" can admit when he's wrong. Who knows, maybe he'll be giving us some crypto tips in the future.

A new competitor is trying to take away OpenSea's dominance in the NFT market

OpenSea, the dominant player in the non-fungible token (NFT) marketplace, is facing some stiff competition from a new decentralized platform called SudoSwap.

In just a month, SudoSwap has managed to grab 10% of the daily trading volume away from OpenSea, according to Messari, a crypto insights firm.

SudoSwap advertises itself as "highly flexible, gas-efficient and fully on-chain," which seems to  be resonating with users who are looking for an alternative to OpenSea.

OpenSea has been criticized for its high fees, which can be as much as 7.5% when buying an NFT (2.5% + 5% royalty). In contrast, SudoSwap only charges a 0.5% fee, making it much more attractive to buyers.

SudoSwap also advertises itself as being written in a more gas-efficient manner than other NFT swapping contracts. This means that it would be theoretically cheaper to trade NFTs on such a platform, especially in bulk.

All of these factors have contributed to SudoSwap eating into OpenSea's market share. It remains to be seen if OpenSea will be able to fight back or if it will lose its position as the top NFT marketplace to this or some other new competitor in the future.