In 2024, More Institutions Will Look to DeFi for Regulated Solutions
Blockchain platform Swarm Markets’ co-founder Philipp Pieper believes that in 2024, more institutions will turn to decentralized finance (DeFi) for regulated solutions. He predicts that DeFi will continue to grow and attract traditional finance products, particularly regulated digitized tokens backed by real-world assets. Pieper emphasizes the significant demand for on-chain solutions in terms of ownership, transactions, and record-keeping. He believes that with a more sophisticated regulatory environment and renewed market confidence, institutions will increasingly adopt DeFi solutions. This development is expected to fulfill the long-awaited promise of blockchain infrastructure delivering practical solutions.
Bitmain Raises Rig Prices and Expands Self-Mining
According to the latest Miner Weekly report by BlocksBridge Consulting, Bitmain, the leading miner manufacturing giant, has raised rig prices and expanded its self-mining operations. The report states that Bitmain increased rig prices but not to the extent of Bitcoin’s hash price increase. CleanSpark, a mining company, confirmed that there was a 15% increase in Bitmain’s rig prices over three months. Additionally, Bitmain has significantly expanded its US mining fleet by providing hosting services for Core Scientific’s S19j XPs. This expansion is expected to generate substantial revenue for Core Scientific through hosting fees.
Bybit Crypto News: Web3 Unit Unveils NFT Pro
Bybit’s Web3 unit has launched NFT Pro, a platform that simplifies NFT exploration and allows users to navigate the evolving Web3 ecosystem. NFT Pro acts as a bridge between traditional web (Web2) and Web3, enabling collaboration between the two. The platform offers early access to NFT collaborations with global musicians, artists, athletes, and cultural icons through branded NFT stores and exclusive drops. Users can also buy NFTs directly within the platform and enjoy competitive fees and faster transaction speeds. By participating actively, users earn points that unlock access to prize pools and exclusive NFTs.
WEMADE Crypto News: Global Pre-registration for MMORPG ‘NIGHT CROWS’ Now Open
Global pre-registration has started for NIGHT CROWS, an MMORPG developed by MADNGINE and published by Wemade. The game, based on Unreal Engine 5, supports cross-play between mobile and PC platforms. Wemade has implemented blockchain technology to tokenize core in-game items and connect the game with WEMIX3.0 using an omnichain network strategy. The in-game economy is interconnected with character NFTs, which are created through the compression of character and user’s game data. To celebrate pre-registration, the NFT Collection ‘The Night is Coming’ is available on the NILE platform. The NFTs can be exchanged with the key token of NIGHT CROWS, ‘CROW,’ starting from April 1.
Hot Take: More Institutions Will Embrace DeFi in 2024
According to Swarm Markets’ co-founder Philipp Pieper, 2024 will see a significant increase in institutions turning to DeFi for regulated solutions. With a more sophisticated regulatory environment and growing market confidence, institutions are expected to adopt DeFi for ownership, transaction, and record-keeping solutions. This trend aligns with the continued growth of DeFi offerings and the onboarding of traditional finance products onto blockchain platforms. The demand for regulated digitized tokens backed by real-world assets will be one of the main drivers of growth in the DeFi market. Overall, 2024 looks set to be a pivotal year for DeFi as it establishes itself as a viable solution for institutions.
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