The DeFi movement has been gaining massive popularity this year despite the global crisis in the middle of which we are due to the pandemic.
It’s been just revealed that the crypto-focused company Pantera Capital has been bringing in massive returns for the investors in 2020. This is thanks to the huge growth of DeFi.
Pantera Digital Asset Fund is now up by 86%
According to the online publication the Daily Hodl, the Pantera Digital Asset Fund is now up by 86% on the year as of July 27, says Dan Morehead, the company’s CEO and Joey Krug the co-chief investment officer.
It’s been revealed that in a recent newsletter to investors, the executives noted that their ICO fund is up by 60% and their Bitcoin Fund has seen gains of 43%.
Morehead and Krug said that DeFi is responsible for the Digital Asset Fund’s superior performance so far.
“Pantera Digital Asset Fund has exposure to assets integral to the growing DeFi ecosystem, which is outpacing Bitcoin’s store-of-value play so far this year.“
The believe that the boost in demand for DeFi, especially for digital asset lending and borrowing is a great development with massive potential.
DeFi protocols need improvements
On the other hand, they made sure to highlight the fact that Defi protocols will be needing “increased scalability, better infrastructure, and easier fiat on-ramps before they can witness serious mainstream adoption,” as the online publication The Daily Hodl notes.
Morehead and Krug highlighted various projects, such as Matic Network, bloXroute, Starkware, Wyre, and Alchemy, that are working on those improvements.
Total value locked in DeFi hits $4 billion
It’s been just revealed by the online publication the Daily Hodl that the amount of value locked in DeFi has soared to $4 billion, according to the DeFi analytics and ranking site DeFi Pulse.
WOW! $4 BILLION Total Value Locked in #DeFi 🎊
With the way things are going do you all just want to meet back here on Monday to celebrate $5B TVL? /s
— DeFi Pulse 🍇 (@defipulse) July 25, 2020
Stay tuned for more data involving the progress made.