1.3 C
New York
Tuesday, January 31, 2023

DeFi To Dominate Crypto Market In 2023: Pantera Capital
D

DeFi To Dominate Crypto Market In 2023: Pantera Capital, , DeFi To Dominate Crypto Market In 2023: Pantera Capital

Venture capital firm Pantera Capital, which manages around $3.8 billion in assets, predicted decentralized finance (DeFi) would be the future of the crypto market.

In a letter to investors titled “The Year Ahead,” the company’s CEO and co-CIO Dan Morehead said, “Blockchain is going to change the world. It will certainly survive these issues,” referring to the recent crypto market downturn caused by high-profile exploits and bankruptcies.

- Advertisement -

Co-CIO Joey Krug added he believed the world’s financial systems would eventually be based on blockchain and smart contracts.

Also Read: Grayscale Vs. SEC: Court Schedules Hearing For Conversion Of Bitcoin Trust To ETF

He also highlighted scalability systems have brought transaction fees on the Ethereum blockchain to under 10 cents and expected them to decrease further to around one cent in the future, which would make decentralized exchanges more competitive with centralized exchanges.

Krug envisioned a future where the average person can access DeFi through apps on their phone, with lower fees, global liquidity and 24/7 markets, but noted this required solutions to current issues such as increasing liquidity in DeFi and making it more user-friendly for those new to crypto.

He suggested getting more institutional capital into DeFi through federal or state-regulated custodians, and aggregating liquidity across multiple chains and liquidity pools.

He also highlighted that there was room for improvement in crypto wallets, user experience, and fiat on-ramps.

Read Next: Binance Processes $346M In Bitcoin For Alleged ‘Money Laundering Engine’ Bitzlato: Report

Photo: Den Rise via Shutterstock

, Blockchain Technology,centralized Exchanges,Cryptocurrency,Decentralized Exchanges,decentralized finance,DeFi,ethereum blockchain,News,Pantera Capital,Markets,News,Cryptocurrency,Markets,Benzinga, #DeFi #Dominate #Crypto #Market #Pantera #Capital,

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

20,000FansLike
3,690FollowersFollow
0SubscribersSubscribe

Latest Articles

Translate »