Pantera Capital: Bitcoin DeFi ecosystem TVL may rise to 1-2% of Bitcoin’s market value

According to a recent report by Paul Veradttakit, executive partner of Pantera Capital, a cryptocurrency hedge fund, Bitcoin ETFs will not be the only headline news in the cryptocurrency industry this year. Instead, the focus will be on the Bitcoin DeFi ecosystem, halving, and tokenization. Veradttakit stated that although the economic downturn in 2022 will have a severe impact on cryptocurrency prices similar to the bear market, this is not because cryptocurrencies are facing a survival crisis. On the contrary, the main reason for the market crash is leverage and bad actors. As the Bitcoin DeFi infrastructure matures, it is possible to see the total lock-up volume of the Bitcoin DeFi ecosystem increase from the current $300 million to 1-2% of the Bitcoin market value, which is estimated to be $10-15 billion at current prices.

Pantera Capital

Comments

All Comments

Recommended for you

CointimeSG ·

Ripple Donates Another $25 Million to Pro-Crypto Super PAC Fairshake

The XRP-focused company announced its third $25 million injection into Fairshake, just weeks after the super PAC proved successful in the 2024 U.S. election.
CointimeSG ·

VanEck extends fee waiver on Bitcoin ETF

The asset manager is extending its fee waiver until January 2026 for up to $2.5 billion in assets under management.
CointimeSG ·

Managing Your Crypto Portfolio in Q4

No matter how far along you are in your crypto investment journey, it is worth taking the following steps in Q4 to get the best results in both 2024 and beyond.
CointimeSG ·

Uniswap unveils $15.5M core contracts bug bounty ahead of v4 launch

Uniswap Labs said this is the “largest bounty in history,” with payouts potentially ranging from $2,000 up to the full amount.
CointimeSG ·

Tether Is So Closely Linked to Cartels It Trades at a Discount in Mexico: Report

The reports say the situation is so dire that USDT trades at a discount in Mexico because knowledge that it comes from drug proceeds is widespread.
CointimeSG ·

Schuman Financial debuts EURØP, a MiCA-compliant euro stablecoin

Schuman Financial has launched a MiCA-compliant euro stablecoin EURØP. The launch comes securing a $7.36 million seed round led by RockawayX, Kraken Ventures and Nexo Ventures.
CointimeSG ·

Fireblocks and Google Cloud partner to enhance PKM security

The partnership utilizes Google Cloud’s “Confidential Space” virtual machine service to secure transactions and meet compliance standards.
CointimeSG ·

Talus Network raises Polychain-led funding round at $150 million valuation, plans TikTok-linked 'AI dating experience'

Talus Network has raised $6 million in a strategic funding round led by Polychain Capital at a $150 million valuation.
U.S. consumer confidence improves again in November, reaching a two-year high

Dana M. Peterson, Chief Economist of the World Large Enterprises Federation, said, "US consumer confidence continued to improve in November, reaching the highest level in the past two years. The growth in November was mainly due to consumers' more positive assessment of the current situation, especially in the labor market. Compared with October, consumers' optimism about future employment opportunities has also greatly increased, reaching the highest level in nearly three years. At the same time, consumers' expectations for future business conditions have not changed, while their optimism about future income has slightly declined." Earlier, the US Conference Board Consumer Confidence Index for November recorded 111.7, a new high since July 2023.
Starknet: Phase 1 of STRK staking is now live on the mainnet

Starknet announced that the first stage of STRK staking has officially launched on the mainnet.