No Result
View All Result
Tuesday, February 7, 2023
  • Login
LiveBetPro - Soccer Betting Tips, Crypto Casino, Crypo Exchanger
  • Home
  • Crypto Casinos
    • Best Cryptocurrency Casinos
  • Bookmakers
    • Top Online Bookmakers 2023
  • Exchanges
    • Best Cryptocurrency Exchanges
    • Best Crypto Derivatives Exchanges [2023]
    • 9 Best Bitcoin Exchanges
    • Bybit Review
    • Binance Review 2023
    • Coinbase Review [2023]
    • Gate.io Exchange Review [2023]
    • KuCoin Review 2023
    • BitYard Review [2023]
  • Scripts Bots
    • Seuntjies DiceBot
  • Betting Tips
  • Promotions
  • Contact Us
No Result
View All Result
  • Home
  • Crypto Casinos
    • Best Cryptocurrency Casinos
  • Bookmakers
    • Top Online Bookmakers 2023
  • Exchanges
    • Best Cryptocurrency Exchanges
    • Best Crypto Derivatives Exchanges [2023]
    • 9 Best Bitcoin Exchanges
    • Bybit Review
    • Binance Review 2023
    • Coinbase Review [2023]
    • Gate.io Exchange Review [2023]
    • KuCoin Review 2023
    • BitYard Review [2023]
  • Scripts Bots
    • Seuntjies DiceBot
  • Betting Tips
  • Promotions
  • Contact Us
No Result
View All Result
LiveBetPro - Soccer Betting Tips, Crypto Casino, Crypo Exchanger
No Result
View All Result
Home Crypto

First Mover Asia: Why DeFi Is targeting the institutions it wanted to topple; Crypto prices rally

LiveBetPro by LiveBetPro
September 8, 2022
in Crypto
1
crypto
192
SHARES
1.5k
VIEWS

(CoinDesk Analysis Team)

Institutional DeFi is growing at a rapid pace and some research firms say this niche sector will attract over $1 trillion in investment capital over the next five years; bitcoin rebounded above $19K.

Related articles

BinanceCoin

BNB/USD (Binance) Elliott Wave analysis – Turn the higher taking place

February 7, 2023
AdaSwap, a Cardano Ecosystem Builder All Set For Launch of Public Testnet

Cardano price looks overpriced, 17% nosedive likely for ADA

February 7, 2023

Good morning. Here’s what’s happening:

Prices: Cryptos rallied late Wednesday with bitcoin topping $19K again and ether rising above $1.6K

Insights: DeFi companies that once intended to dethrone large financial institutions are now targeting them.

Prices

  • Bitcoin (BTC): $19,310 +2.5%
  • Ether (ETH): $1,627 +5.8%
  • S&P 500 daily close: 3,979.87 +1.8%
  • Gold: $1,727 per troy ounce +1.6%
  • Ten-year Treasury yield daily close: 3.26% −0.07

Cryptos Rally Late Wednesday

By James Rubin

Cryptocurrencies found a late spark Wednesday to regain ground lost in a plunge little more than 24 hours earlier.

Bitcoin was recently trading at about $19,300, up more than 2% for this period after falling to $18,558 on Tuesday, its lowest level in two months. The largest cryptocurrency is now struggling to maintain support above $19,000 as investors shrink from the same Federal Reserve monetary hawkishness and macroeconomic uncertainty that have plagued riskier assets for months.

“There was probably a lot of period of time for bitcoin where the macro factors probably didn’t matter, but to the extent that the goal is to be more mainstream, the more mainstream it becomes, the more it’s affected by mainstream things,” Noah Hamman, CEO of investment management company AdvisorShares, told CoinDesk TV’s First Mover program.

Ether continued its recent trend of outperforming bitcoin, rising nearly 6% to trade over $1,630 as crypto markets recovered some of their excitement for the Merge, which shifts the Ethereum blockchain from proof-of-work to more energy efficient proof-of-stake. On Tuesday, the second largest crypto in value had plummeted below $1,500 for the first time in more than a week.

Among other major altcoins, ALGO, the token of proof-of-stake, carbon negative blockchain network Algorand, recently rose more than 6% after the company announced a protocol upgrade. YGG and CRV jumped more than 12% and 11%, respectively.

Equity markets

Equity markets closed higher amid at least a temporary lull in risk-averse sentiment with the tech-focused Nasdaq and S&P 500 both spiking about 2% and the Dow Jones Industrial Average (DJIA) climbing nearly 1.5%. On Wednesday, markets received fresh signals that the Federal Reserve Reserve will approve a third consecutive 75-basis point interest rate hike with several Fed officials in separate speeches reiterating the bank’s commitment to tame inflation. The Fed has boosted interest rates at its fastest pace in about four decades.

“We are in this for as long as it takes to get inflation down,” Fed Vice Chairwoman Lael Brainard said Wednesday in a speech at a banking conference in New York.

In her remarks, Brainard also said the cryptocurrency market bears similar risks to traditional finance, but will need new regulations for situations not covered by existing laws. Given the unique characteristics of crypto, there’s a need for “creating clear regulatory guardrails,” she said.

Brainard also restated her position about the risk of stablecoins. “Stablecoins is one of those areas that I think has the most potential for risk if not properly regulated and of course those risks can easily spill into the main core financial system because of the runnable nature of stablecoins,” she said.

Biggest Gainers

AssetTickerReturnsDACS Sector
CosmosATOM+8.4%Smart Contract Platform
EthereumETH+5.9%Smart Contract Platform
ChainlinkLINK+5.8%Computing

Biggest Losers

There are no losers in CoinDesk 20 today.

Insights

Why DeFi Companies Are Targeting Institutional Investors

By Shaurya Malwa

SEOUL, South Korea – Decentralized finance (DeFi) companies are increasingly targeting a sector they once looked to usurp: traditional finance players and institutional investors.

The shift is interestingly consistent. Ethereum lending projects Aave and Compound started offering institutional versions of their products in 2021, while Maker brought an SME loans platform called Monetalis into the Maker fold, with Maker as the sole backer – despite token holders’ opposition.

The offerings are not lowball efforts arising from a bear market either. A cohort of “institutional DeFi” is growing at a significant pace as well, as per reports. Some research firms even peg the niche sector to attract over $1 trillion in capital from investors over the next five years.

Such moves are a shift from the past ethos of DeFi, which formed in the deep bear market of 2019 as an antidote to TradFi, or traditional finance. A then-sparsely populated Telegram group – just called “DeFi” – had budding protocol builders and users discuss and envision a world where smart contracts wholly govern the supply of finance to users, one where TradFi had no reach.

The Telegram group counted among its many participants the-then unknown developers and investors such as Synthetix’s Kain Warwick, Yearn’s Artem K, DeFiance Capital’s Arthur Cheong and Compound’s Robert Leshner, among several others, who have since evolved into DeFi superstars. But developments of today are a near 180-degree shift from that TradFi-free world.

Going “where the growth is”

What changed? As per Maker developer Nik Kunkel, it’s all about “where the growth is.”

“If you go to an institution, they’re gonna borrow $100 million. We have people who want to borrow a billion (dollars) from us,” Kunkel said during August’s BuildAsia conference in Seoul. “Trying to get that critical mass of retail users that you need to get $500 million in total loans is really difficult, right?”

Kunkel added that the cost of user acquisition for a retail participant remains high, as opposed to marketing products to institutions that provide a “better bang for your buck” in terms of where a project spends its resources.

The sentiment was seconded by Doo Wan Nam, founder of governance-focused crypto fund StableNode. “Many DeFi ecosystems have been aware that user base as well as liquidity can be greatly enhanced via working with TradFi,” Doo told CoinDesk.

The likes of Doo say DeFi is not that far off from its promise either. “I would also add that a lot of DeFi ethos was also about educating and revolutionizing the current financial system – which is still applicable,” he said over a Telegram message.

Still, Maker’s Kunkel says the recent push for institutional catering doesn’t mean that the project isn’t about retail anymore.

“There’s different initiatives to serve different purposes. So I think on the growth side we’re looking more towards institutions, but when it comes to “banking the unbanked,” and that’s where layer two comes in,” Kunkel said.

“It’s too expensive to transact Ethereum on Layer one. You can’t tell someone in like Africa or someone in Paraguay that they need to spend $20 on gas costs. That’s not feasible.”

“That’s where the push for layer two comes in,” Kunkel noted, adding that fees on such solutions were “less than $1 right now” and that future simulations run by the team show that transaction costs gradually “become insignificant.”

Layer 2 refers to a set of off-chain systems or separate blockchains built on top of layer 1, or base, blockchains. This software bundles multiple off-chain transactions into a single layer 1 transaction, which helps reduce the data load, leading to faster network transactions at lower costs.

Important events

Practising Law Institute: The SEC Speaks in 2022

1 p.m. HKT/SGT(5 a.m. UTC): Japan Eco Watchers Survey (August/current/outlook)

8:15 p.m. HKT/SGT(12:15 p.m. UTC): European Central Bank monetary policy statement

Read Can one expect the bounceback of Ethereum (ETH)?

Post Views: 162

Related posts:

LitecoinLitecoin faucetpay-siteFaucetpay Microwallet Review [2022] – Scam or legit? earn-free-bitcoins-daily-without-investment-2022How can I get free bitcoin without investment [2022]? FXStreetWhy this pennant breakout matters for ApeCoin traders Crypto ATM Installations Worldwide Witness a 32% DeclineAustralian central bank governor favors private sector crypto technology Crypto-WalletsCrypto’s full swing recovery dogecoinDogecoin launches new update to improve security and efficiency DOGEPERPDogecoin price to provide positional traders a discount to buy DOGE before a 90% rally
Tags: Decentralized financeDeFi CompaniesFed Vice Chairwoman Lael Brainardthe risk of stablecoins

Related Posts

BinanceCoin

BNB/USD (Binance) Elliott Wave analysis – Turn the higher taking place

by LiveBetPro
February 7, 2023
0

(Elliott Wave Forecast Team) Binance Coin is the cryptocurrency issued by the Binance exchange and carries the BNB symbol. With...

AdaSwap, a Cardano Ecosystem Builder All Set For Launch of Public Testnet

Cardano price looks overpriced, 17% nosedive likely for ADA

by LiveBetPro
February 7, 2023
0

(Filip L. - FXStreet) - Cardano price jumps over 2% in a slight recovery during the European session. - ADA...

LunaTerra

Luna Classic gears up for recovery after Binance support and latest upgrade

by LiveBetPro
February 7, 2023
0

(Ekta Mourya - FXStreet) - Terra Classic network upgrade from v1.0.4 to v.1.0.5 has received Binance’s support, and the exchange...

crypto

Here’s why India held on to older crypto reforms in the national budget 2023

by LiveBetPro
February 2, 2023
1

(Cointelegraph Team) Cryptocurrency and blockchain technology found no mention in India’s union budget for the year 2023, bringing down the...

BitcoinEthereumRipple

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto rally built on house of cards, collapse imminent

by LiveBetPro
February 1, 2023
2

(Akash Girimath - FXStreet) - Bitcoin price is likely to pull back to the $21,250 support level as bulls exhaust...

Load More
  • Trending
  • Comments
  • Latest
freebitco-Multiply BTC

Freebitco Review – Discover Multiple Ways To Earn Free Bitcoins

June 4, 2022
earn-free-bitcoins-daily-without-investment-2022

How can I get free bitcoin without investment [2022]?

July 2, 2022
Are-Your-Investments-Safe-with-Crypto-Trading-Bots

Are Your Investments Safe with Crypto Trading Bots?

June 8, 2022
faucet-main

What Are Crypto Faucets ?

May 23, 2022
bitcoin

Bitcoin

115
Ethereum

Ethereum

57
How-To-Use-Crypto-Online-Gambling-Websites

How To Use Crypto Online Gambling Websites

44
8-Tips-On-How-To-Make-Money-Sports-Betting

8 Tips On How To Make Money Sports Betting

44
BinanceCoin

BNB/USD (Binance) Elliott Wave analysis – Turn the higher taking place

February 7, 2023
AdaSwap, a Cardano Ecosystem Builder All Set For Launch of Public Testnet

Cardano price looks overpriced, 17% nosedive likely for ADA

February 7, 2023
LunaTerra

Luna Classic gears up for recovery after Binance support and latest upgrade

February 7, 2023
bitcoin

Bitcoin sees golden cross which last hit 2 months before all-time high

February 7, 2023

Connect with LiveBetPro.com

telegram twitter

Now online

livebetpro

Livebetpro Information

Address: Ho Chi Minh City, Vietnam, 70000

Contact Us:

– Skype: fxvnpro
– Email:
livebetpro@gmail.com
admin@livebetpro.com

Payment Methods

– Webmoney
– Perfect Money
– Skrill
– Neteller
– Bank Wire
– Bitcoin

Disclamers

Any promotions, reviews, and other information in the website are just for the information purpose only.

There is no invitation or encouragement to invest in Casinos, Bettings, Cryptocurrencies and so on. We disclaim liability for any loss resulting from the use of information contained on this website.

The published comments are private opinions or feedback of the users. Livebetpro is not responsible for any information on the website.

Risk Warning

Please be aware of your investment into bettings/casinos/cryptos which is high risk and not suitable for everyone.

Recent Posts

  • BNB/USD (Binance) Elliott Wave analysis – Turn the higher taking place
  • Cardano price looks overpriced, 17% nosedive likely for ADA
  • Luna Classic gears up for recovery after Binance support and latest upgrade
  • Bitcoin sees golden cross which last hit 2 months before all-time high
  • Bitcoin found an interesting support
  • Bitcoin price over $20K creates FOMO with 620K new BTC wallets
  • Bitcoin Weekly Forecast: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher
  • Bitcoin bulls must reclaim these 2 levels as the ‘death cross’ still looms
  • Bitcoin, S&P 500 close in on bullish ‘golden cross’ signal
  • Here’s why India held on to older crypto reforms in the national budget 2023

Categories

  • Affiliate Programs
  • Betting Tips
  • Bitcoin
  • Blockchain
  • Blockchain Gaming
  • Crypto
  • Crypto Casinos
  • crypto lending platform
  • Crypto Mining
  • Crypto Trading
  • Crypto Trading Bots
  • Crypto Wallets
  • Cryptocurrency Price analysis and Prediction
  • DeFi
  • Earn Free Crypto
  • Ethereum
  • Exchanges
  • Faucets
  • Investment News
  • NFT
  • Promotions
  • Ripple
  • Scripts Bots
  • sport betting
  • USDT
  • Web3
  • XRP
  • About
  • FAQ
  • Contact Us

© 2022 by LiveBetPro.

No Result
View All Result
  • Contact Us
  • Homepages

© 2022 by LiveBetPro.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In