Galaxy Digital CEO: Bitcoin will continue to integrate early next year, DeFi will be the first 2022

In an interview with CNBC last week, Mike Novogratz, chief executive of crypto fund giant Galaxy Digital, said cryptocurrency will have a rocky start in 2022.

“The market is changing,” he said. “Tech companies such as Apple, Tesla and Nvidia, which are the leaders in the US market, have recently shown weakness in the share price, which could lead to problems with the cryptocurrency market.” The market as a whole has not forecast a good performance in December and January next year.

Novogratz also pointed out that the recent boom in NFT is a sign of over-marketing! However, Novogratz also reiterated previous estimates that the bulls could keep Bitcoin's strong support at $ 42,000 (Bitcoin was reported up $ 48,123 ahead of the close). 42,000 USD. , must be at the bottom of the difference. If it's less than $ 40,000, you might be surprised.

promise the future

Regarding the long term development of cryptocurrencies, Novogratz said, “I am not worried about the development of cryptocurrencies in the medium term, as I have seen many people considering entering this field.

According to a recent report, Bloomberg's senior ETF analyst Eric Balchunas tweeted on April 10 that there are 78 public cryptocurrency funds around the world (more than double compared to the same period last year) and 78 in the United States. Over 40 cryptocurrency ETFs have been submitted to the SEC in every state.

He believes digital assets will be level 5.0 for ETFs. And the total assets of the 78 existing cryptocurrency investments are $ 66 billion, and that size is expected to exceed $ 1,000 billion in 10 years.

Ernst & Young (EY), one of the four largest companies in the world, recently released a new survey showing that 31% of CFOs, 24% of other investment managers and 13% of private managers have indicated their plans for the future. Add cryptocurrency to their data over the next 1-2 years.

2022 is an important year for budget allocation.

Another important thing to keep in mind is that Novogratz has said that investors have no love for the financial services industry (DeFi) in 2021, but hopefully that will change next year. Receiving Personal Information (KYC) issues should also be addressed.

Data from DefiLlama shows that the total number of wireless access points through DeFi across the network has increased this year, reaching $ 240 billion before the deadline. Many new platforms also appeared after the rain. Here are the top 5 DeFi settings, including the current close rate:

1.Curve ($ 20.9 nphom)

2. Manufacturer ($ 17.6 nphom)

3.Aave (15.6 $ nphom)

4. Convex financial ($ 13.3 billion)

5. Instadapp ($ 12 billion).