Cryptocurrency-focused investment firm Pantera Capital shared its 2023 summary of the industry and its 2024 expectations.
In its recently published annual report, Pantera Capital stated that the blockchain and cryptocurrency industry Developments made in 2023 examined it closely. this year A year full of progress The company, which defines it as, expects the cryptocurrency market to double its total market value in 2023. to 3 trillion dollars He stated that he removed it.
In this increase, institutional investors It was pointed out that the increasing interest in cryptocurrencies played an important role. As institutional investors began to see cryptocurrencies as an investment tool, the market increase in liquidity and prices was seen.
In the said note, the adoption of cryptocurrencies is increasing, decentralized finance (DeFi) And metaverse in areas such as innovations It was emphasized that it was accelerating.
It was stated that there will be significant growth in the DeFi field in 2023. DeFi protocols total locked value (TVL) By the end of 2022 39 billion from the dollar by the end of 2023 to 52 billion dollars rose. It was noted that the diversity of DeFi protocols and the increase in their usage areas played an important role in this increase.
There were also important developments in the Metaverse field in 2023. As the number of Metaverse platforms increasesthe transaction volume on these platforms also increased significantly.
Growth is expected in 2024
Pantera Capital, in 2024 He also stated that he expects significant developments in blockchain technology. The company predicts that the adoption of cryptocurrencies will continue to increase, as will the DeFi and metaverse fields. will continue to grow predicted.
These developments allow blockchain technology to reach a wider usage area and to take more place in our lives why it is expected to happen.