Using Blockchain for Private Credit Amidst Rising Interest Rates
As 2023 draws to a close, companies are turning to blockchain-based private credit solutions to secure financing amidst heightened interest rates, sparking a resurgence in a sector that faced a downturn during last year’s crypto crisis.
Blockchain-Based Private Loans Surge by 55%
According to data from RWA.xyz, a platform monitoring debt, active private loans facilitated through digital ledgers have surged by 55% since the beginning of 2023, reaching approximately $408 million as of November 28. However, this constitutes a fraction compared to the robust $1.6 trillion traditional market for private credit.
Global Cryptocurrency Market Conditions
Against the backdrop of the global cryptocurrency market, which currently stands at a valuation of $1.55 trillion, the past 24 hours have witnessed a significant upswing in the total crypto market volume, reaching $52.75 billion. Within this volume, decentralized finance represents $7.01 billion, constituting 13.28% of the total crypto market 24-hour volume.
Woo Network (WOO)
The price of WOO Network (WOO) is $0.364400 today and it experienced a 4.71% decline in the last 24 hours. The price of this token reached $66.27 million, contributing to its market cap of $651.92 million, with a circulating supply of 1.8 billion WOO. WOO Network operates primarily through its two flagship products. WOO X, the fee-less trading platform, and WOOFi, the decentralized exchange. ⚠️ Attention! The WOO X platform is gearing up for a planned system upgrade on Dec 19th, scheduled from 02:00 AM to 03:00 AM (UTC).
GEC (GEC)
The current price of Geometric Energy Corporation (GEC) stands at $0.738882, marking a 29.90% decrease in the last 24 hours and a notable 66.20% decline over the past seven days. GEC tokens remain tradable on decentralized exchanges, with Uniswap V2 (Ethereum) being a popular platform for trading GEC tokens.
Syncus (SYNC)
In tandem with the broader crypto market condition, Syncus (SYNC) is trading low at $0.00210508 today. Over the last 24 hours, SYNC recorded a slight price decline, but its performance over the past seven days has seen a positive upturn. The 24-hour trading volume for SYNC tokens is $1.87 million.
What Might Be The Next Top Trending Crypto?
In a bid to revolutionize the crypto investment landscape, Launchpad XYZ embarked on the groundbreaking endeavor to integrate artificial intelligence into its platform. The startup is currently in the developmental stages of Launchpad Quotient, an AI system designed to assess crypto assets based on their risk-reward profile. Launchpad Quotient, the brainchild of Launchpad XYZ, harnesses the power of cutting-edge technology to analyze crypto assets using a multitude of data points—reportedly up to 400 variables.
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