The current US inflation data has thrown a great tantrum and panic within several market sectors. Different expectations and reactions are surfacing following reports of the inflation data. It seems to be a fact that even the crypto space now receives impacts from inflations and other macroeconomic factors. With reports from the US Bureau of Labor Statistics, different markets are loaded with diverse opinions. However, according to the released data, there’s been an increase of 9.1% in the consumer price index since June last year. This value is more than predictions from some analysts. Related Reading | A Breakout Above This Level Could Help Polkadot Recover On Chart However, Binance CEO Changpeng Zhao (CZ) seems to have a contrary idea concerning the released inflation data. According to CZ Binance, the 9.1% inflation is a magically low value concerning some surrounding events. Changpeng Zhao stated that the USD supply increased by 80%, equivalent to 5 times its original supply, through more minting of the note. Hence, the inflation value is expected to amount to about 500%. In CZ’s terms, such calculation should depend entirely on the rise in money supply over a given period. Twitterati swiftly offered a corrective response to Changpeng Zhao’s indications for inflation data. In further explanation, inflation calculations should consider different demand and supply factors. Also, it should consider the...
