Market overview

Embracing an inevitable change as opposed to fighting it is at the heart of every sought successful outcome.

It is an undeniable reality that recent events in technology have prompted profound shifts in the financial infrastructure and, certainly, many more novelties are to be expected at an increasing pace.

DeFi interest has exploded over the last 24 months. Global blockchain spending has increased 7x over the last four years. This figure has near-enough doubled year-over-year (IDC) The total value locked in decentralized finance has increased by over 8x since July 2020 (DeFi Pulse).

In 2013, there were just 66 cryptocurrencies as of March 2022, there are 10,363 different cryptocurrencies available for trade (investing.com) and more than 80 million Blockchain wallet users worldwide (Blockchain) (almost 100% Growth in 2 years). The overall cryptocurrency market has experienced huge growth over the last five years with a current peak of approximately $3 quadrillion (CoinMarketCap) and a 300% growth last year (some grew by over 40.000% last year).

The data suggests that DeFi is here to stay. And attitudes toward cryptocurrency are changing as more people choose to invest. The prevalence of DeFi is only likely to grow in the near future

Progressive liberalization of financial licenses to act as custodian and payment service companies' providers (neobanks), is shaping a completely new global economic scenario.