DeFi total locked value hits record $236 Billion. Decentralized Finance (DeFi) market experienced a major resurgence in October following a month-long slump. With total value locked (TVL) across key protocols reaching. An all-time high of $236 billion, according to CoinMarketCap. The cryptocurrency market appears to be experiencing a wave of positive optimism. With Bitcoin reaching an all-time high of $67,000 on October 21. While this is going on, some DeFi coins and smart contract tokens are seeing huge growth. Which presents a great potential for businesses.
The decentralized finance company WonderFi Technologies has been consolidating its position. In the burgeoning decentralized finance sector over the last several months. On November 1, the company announced plans to purchase up to C$10 million in crypto and digital currency assets. With a focus on important assets that will hold their value over the long run.
As part of the transaction, WonderFi received an increase in the purchase price of approximately C$26.4 million. Which it intends to use to fund its product development roadmap. And the distribution of its products to a global audience, with a portion. Going toward the expansion of the company’s digital asset portfolio.
Worfi had previously announced a relationship with DeFi Pulse Inc., a business that produces indexes. For decentralized finance, to provide digital asset indexes through the WonderFi App. Which had been introduced two weeks ago. The DeFi Pulse Index contains also the most popular DeFi assets available on Ethereum. As well as those with a high level of utilization. And a commitment to continued development and maintenance.
Centralized Fintech Firms Expect Gains
A new ETP from DeFi total Technologies’ subsidiary, Valour Inc., will be launched in the coming weeks. This will be the first-ever Valour Uniswap ETP, and it will provide investors. With exposure to Uniswap ETPs that are being offered to the investing public. On traditional equities exchanges. Uniswap is one of the largest and also most actively traded DeFi protocols. Also with a total of $4.8 billion in total liquidity currently available on the platform.
Voyager Digital, a rapidly expanding cryptocurrency exchange based in the United States. Has announced that it has received final authorisation from the Autorité des marchés financiers (AMF). And the Autorité de contrôle prudentiel et de résolution (ACPR) to commence operations in the European Union.
As the first non-French and non-European corporation to receive this designation. Voyager also represents a significant milestone.
Coinbase Global, a cryptocurrency exchange platform, has stated that it is increasing the size. Of its previously announced debt offering from $1 billion to $2 billion due to increased market interest. The profits will be used for general corporate purposes by the company. Which could include product development investments as well as investments in. Or acquisitions of other companies, products, or technologies.
Moreover, C$450,000 has invested in Network Entertainment Inc. by crypto mining company. HIVE Blockchain Technologies Ltd., which is an award-winning media production company. With an emerging non-fungible token (NFT) business, according to the company’s recent announcement.
Earlier this year, Network Entertainment announced its intention to develop and distribute NFTs. Using content and relationships from its portfolio. As well as content and relationships from worldwide collaborations. Upcoming projects, and third-party also intellectual property.