Decentralized finance (DeFi) has massive potential to transform traditional financial services. Data from Emergen Research recently found that the global DeFi platform market size is expected to reach $507 billion by 2028. Moreover, the total value locked within DeFi currently exceeds $75 billion, demonstrating fast-paced growth compared to previous months this year. Yet, DeFi’s potential may still not be realized by business leaders unfamiliar with the blockchain ecosystem. This notion is highlighted in Alex Tapscott’s recent book, Digital Asset Revolution. Tapscott, co-founder of the Blockchain Research Institute and managing director at Ninepoint Digital Asset Group, told Cointelegraph that he believes …
Crypto payments are becoming increasingly popular as Bitcoin (BTC) and other digital assets continue to go mainstream. This has become the case for both crypto holders and non-crypto owners who are primarily interested in the concept of using cryptocurrencies for payments. Recent data has found that 93% of crypto users surveyed would consider making purchases in crypto. The report further revealed that 59% of consumers who don’t hold crypto would be interested in using it to make purchases in the future. As such, it shouldn’t come as a surprise that major payment providers like Mastercard have been ramping up their …
The growth of the decentralized finance (DeFi) sector has been a recurrent headline throughout 2021 and to date, hundreds of billions of dollars in crypto assets are locked on protocols across numerous blockchain networks and earning a yield for their holders. What started off as a simple Ethereum-based swap interface that allowed ERC-20 tokens to be exchanged in a decentralized manner, called Uniswap, has exploded into a vast ecosystem full of decentralized exchanges, yield farms, lending protocols and staking platforms. As development continues and older protocols become more established, newer projects have emerged to incorporate more pieces from the traditional …
Bloomberg Terminal, a paid financial data monitoring service, will now list crypto exchange Huobi's Cryptocurrency Index, according to a press release shared with Cointelegraph today, June 21. Bloomberg Terminal will also list prices for nine crypto trading pairs, denominated in Tether (USDT), including Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple (XRP), Dash, EOS, and ZCash. The Huobi 10 Index, designed by the Huobi Group, is calculated using asset classification and a weighted average method to track the performance of the top 10 traded digital assets on Huobi’s exchange. The press release notes that Bloomberg Terminal’s addition …
The cryptocurrency bear market has had an impact on how people pay with crypto, but Bitcoin (BTC) remains a major payment tool despite huge volatility, according to data from BitPay. The share of Bitcoin payments in the total BitPay transactions has been shrinking amid the ongoing cryptocurrency winter, but it’s still the most popular cryptocurrency for payments on the platform. The sales volumes of Bitcoin-based payments on BitPay accounted for as much as 87% last year and dropped to 52% in the first quarter of 2022 amid the bear market, BitPay’s vice president of marketing Merrick Theobald told Cointelegraph. In …