Now Loading

HUOBI INVESTED HEAVILY IN BLOCKCHAIN AND WEB3 PROJECTS

HUOBI INVESTED HEAVILY IN BLOCKCHAIN AND WEB3 PROJECTS

Digital asset exchange Huobi Global has launched a new investment arm focused on distributed financing (DeFi) and Web3 projects, and highlights business interest rates in the blockchain economy.


Named Ivy Blocks, the new investment unit has more than $ 1 billion in crypto assets under management to be used, Huobi's spokesman confirmed. These funds are set aside for "identification and investment in promising blockchain projects," the company said.


In addition to funding, Ivy Blocks will provide a variety of services for selected projects, including an asset management platform, a new blockchain incubator and a dedicated research arm. The factory's asset management department will provide "liquidity investment" to help DeFi and Web3 projects rise and fall, according to Lily Zhang, chief financial officer of Huobi Global.


Ivy Blocks on Friday also announced that Capricorn Finance, an automated market maker built into the Cube blockchain, is the first funding project.


The company's focus on DeFi comes at a time when the total value of the sector has dropped by more than half from the top. Compared with the total number of locks, or TVL, the DeFi sector currently has a value of less than $ 133 billion, according to industry data. DeFi TVL raised north of $ 316 billion by December 2021.




DeFi's woes are a sign of the so-called crypto winter, which has plagued the market since the beginning of 2022. Analysts say bear market cleaning cycles are healthy because they often follow “irrational” times when commodity prices are negligently charged.



Despite the downtrend, capital gains continue to fill the crypto space, with investors prioritizing Web3 and metaverse games. As reported by Cointelegraph Research, blockchain and crypto projects have seen $ 14.6 billion in capital investment in the first half alone. To put that in perspective, business investment throughout 2021 was estimated at $ 30.5 billion.

Source:  cointelegraphy




How do you feel about this blog?

0 Comments

Leave a Reply