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Cryptocurrency prices seem to be less affected by macroeconomic factors than prices of more traditional financial assets. Key drivers for crypto assets include market confidence, adoption, technology and liquidity conditions. By contrast, traditional financial assets are strongly influenced by macroeconomic drivers, such as interest rates and inflation. These traditional assets also differ from crypto in being subject to government regulations and in being more transparent in terms of knowyour-customer requirements and anti money laundering measures.
The transformation of global and regional financial systems amid the adoption of new technologies--from artificial intelligence to cryptocurrencies, tokenization, distributed ledgers, and beyond--is accelerating an era of growth and discovery.
The private debt market has grown tenfold in the past decade with assets under management of funds primarily involved in direct lending surging to $412 billion at end-2020—spurred in part by investors’ search for higher yield.
Without a quick end to the conflict on the horizon, the effects of the Russian invasion of Ukraine are being seen in equities, energy, global trade and commodities markets.
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