Yes, it’s our new LATOKEN review, and the crypto market is on-ramp again! In mid-August, its capitalization exceeded $2,2 trillion, and many tokens again show hundreds and even thousands of percent growth in a short period. There are several major trends right now that determine the direction of the whole industry. Want to find out more about how to make money right now? Read our LATOKEN review!
DeFi as a trend
The number of blocked funds in DeFi projects (TVL) is growing steadily. That figure peaked at $84,7 billion on Aug. 14, according to DeFi Pulse. Last summer, the value was $6,3 billion. Over the past 12 months, the growth was 1244%!
Institutional investors are also interested in DeFi. For example, Grayscale has launched a new ETF targeting decentralized finance projects. The basis for the selection of assets for the fund will be the index from Coindesk. Thus, investors will be able to make money on DeFi without buying tokens directly.
At the same time, even the largest banks are creating the infrastructure for the new sphere. For example, at the end of July, Goldman Sachs applied to the SEC to create a DeFi-ETF. The fund will invest in companies listed in the Solactive index. In addition to blockchain and DeFi players, this ETF also includes companies such as Nokia, Cisco, Facebook, Google, and Accenture.
IDOs are also popular. This is a new way to attract funding. Its peculiarity lies in the fact that tokens that are issued in this way are already backed by liquidity pools on the DEX. Among the most recent successful IDOs is the Vega decentralized derivatives trading protocol, which raised $43 million.
In order to take part in the IDO, you need to register in the white list (do not confuse it with the white paper). Also, many projects offer to sign up via Telegram or Twitter.
The main advantage of IDO is that such tokens are guaranteed to be placed on a decentralized crypto exchange. Therefore, there is no need to worry and wait for the listing news.
Every day, more and more people are showing interest in the innovations in the finance world, which became possible thanks to DeFi. Crypto scammers are also finding more new ways to steal cryptocurrency…
Want to find out more about that? Read our article “How to Detect Scam Projects in the Decentralized Finance (DeFi) Industry”.
NFT as a trend
Want to know what NFT is? You can get more information from our article “What Is an NFT Token, and How Some Make Millions on It”.
In the second half of 2021, non-fungible tokens (NFT) became very popular. In August, the trading volume on the OpenSea NFT marketplace exceeded $1,3 billion, although in July this rate was only $284,2 million, and in June $125,2 million (an increase of 560% in two months). If in 2020 NFT sales amounted to $2,6 million, then in the first half of 2021, this value increased 26 times, to $95 million. Incredible, right?
Conflicts are also associated with NFT tokens. For example, on Aug. 13, the State Hermitage accused Rammstein leader, Till Lindemann, of illegally selling NFTs made in the museum during the filming of the video. The Hermitage explained that during Lindemann’s recent announcement of the NFTill project, the museum sent him a warning that he was violating the Hermitage’s licensing policy. Still, it did not receive a response, and the illegal tokens were eventually uploaded to the marketplace.
Big players are also entering the NFT sphere. For example, Alibaba Group has launched a non-fungible token (NFT) marketplace for copyright trading. The project was implemented with the participation of the Sichuan Provincial Government. The marketplace uses NFTs issued on the New Copyright Blockchain. It was created by the Copyright Committee of the Sichuan Blockchain Association. With the New Copyright Blockchain, writers, musicians, developers, and other professionals can sell their work as NFTs.
At the same time, experts recommend that investments in non-fungible tokens should be considered with caution. Any “hype” leads to overheating of the market, followed by a correction. Therefore, it is worth investing in NFT only if there is a deep understanding of the value of a particular token and confidence in the further growth of its popularity. What is more, when dealing with crypto, you should never forget about the possibility of becoming a victim of a cryptocurrency scam.
Institutional Investors. LATOKEN review
In the second quarter of 2021, blockchain startups raised a record $ 4.38 billion in funding, a 30% increase over the first quarter. The purchase of bitcoin by large companies has also become a trend. It is known that even SpaceX, owned by Elon Musk, holds cryptocurrency on its balance sheet. At the same time, large companies are actively entering the crypto market.
For example, at the end of July, it became known that State Street, one of the oldest banks in the United States, would offer crypto services to its funds’ wealthy clients. The bank plans to enter into a partnership with Lukka Inc., a cryptocurrency software provider.
Also, in mid-summer, some of Bank of America’s clients gained access to Bitcoin futures trading. At the same time, financial holding BNY Mellon has joined an alliance of six banks that are planning to launch Pure Digital, a digital asset trading platform.
At the same time, large companies are starting to look for cryptocurrency specialists. In mid-August, Walmart, the largest retailer in the United States, posted a vacancy for a head of cryptocurrency products. Lloyds Banking Group, one of the oldest British banks, is also looking for a digital currencies and innovation senior manager.
LATOKEN is a fast-paced international crypto exchange and IEO platform with 1.3+ million users throughout the world.
LATOKEN brings commerce and banking to blockchain technology to automate transaction processing and save billions of working hours per year. Only one year after its launch, LATOKEN got 850,000+ downloads on Google Play and 1,200,000+ subscribers on social networks. Entrepreneurs and business owners who look for funding can also consider the LATOKEN IEO Launchpad. More than 300 digital assets and 500 crypto pairs are available for traders with the ability to connect using RESTful APIs or WebSocket.
What is more, LATOKEN has recently launched a P2P service for its users to improve the trader experience further. And the cherry on top, LATOKEN hosted the Blockchain Economic Forum last year. BEF Roadshows connect crypto investors with business people to build the next big things.
LATOKEN does not provide investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like many other assets, cryptocurrencies are subject to high market risk. Please trade with caution.