Cryptocurrency Asset manager Pantera Capital shared its 2023 outlook report with investors.
Pantera Capital is the first US institutional asset manager to focus exclusively on blockchain technology. Led by Dan Morehead, he has multiple funds focused on venture capital, early-stage tokens and liquid tokens, with over $3.8 billion in total assets under management.
Pantera Capital Analysts Evaluate the Cryptocurrency Industry
Pantera analyst Joey Krug explains his thoughts on the cryptocurrency market outlook:
“DeFi lays the foundation for the next crypto cycle. The failure of centralized institutions due to hacking, greed or illegal activity is “as old as financial markets”.
“Real crypto, like on-chain, smart contract, protocol-based cryptocurrencies, really alleviates these issues.”
It seems pretty clear that the historical flow of the world’s financial system will result in blockchain-based systems using smart contracts. Despite the low prices, I think this area is in a much better position than ever before.
You ask why? Because:
– We finally have scalability solutions that enable transactions with transaction fees under ten cents.
– Writing smart contract-based systems is now much easier than in the past.”
Krug explains his DeFi vision:
“The average person will have apps that access DeFi on their phone, where they can make financial transactions without banks/brokers, with lower fees, global liquidity, and markets that work 24/7.”
Another Pantera analyst, Will Reid, said about the blockchain infrastructure:
“The importance of the Merge update cannot be underestimated.
Ethereum’s Merge is one of the most technically impressive software updates ever made.
Merge provided:
– Reduced inflation
– Improved transaction completion times
– Significant reduction of electricity consumption
Merge is just the beginning. The development of Ethereum is not yet complete.
We have a period of great change ahead of us.
L2s are getting stronger.
– Arbitrum has seen 516% growth in active developer teams since January.
– Cumulative volume across StarkEx platforms has more than doubled from just over $300 billion at the start of the year to $795 billion.”
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!