Wall Street keeps funds in six different DeFi crypto assets

Wall Street keeps funds in six different DeFi crypto assets

By bit.team

The volume of the DeFi market is approaching a new record level, and currently stands at $12.13 billion. Wall Street company Jump Trading invested in DeFi because of promising prospects for success.

The giants of Wall Street are investing in crypto

In addition to the brilliant rise in Bitcoin prices in recent days, the volume of the decentralized finance market has also grown again. According to the data Defipulse.com, the capital associated with Ethereum for DeFi applications is currently $ 12.13 billion and is on a direct path to a new record level.

The market trend has not remained unnoticed by Wall Street companies. According to Messari analyst Mason Nystrom, the Wall Street giant Jumping Trading, which employs a total of more than 700 people in new York, Chicago, London, Shanghai and Singapore, owns more than $ 75 million in various cryptocurrencies. The company has been working in the crypto market for several years.

Nystrom States that Jumping Trading owns Compound (COMP), Keep Network (KEEP), HXRO, Numeraire (NMR), Orchid Protocol (OXT), and MakerDAO (MKR). Most of the capital, $ 32 million, was invested in Serum.

Jump Trading owns at least $ 75 million worth of crypto assets and is the 8th largest holder of COMP tokens after a16z and Polychain. Jump has bought 47K COMP in the last 7 days.

The further distribution of capital for all investments is still unknown. COMP increased by 100% in a very short time after the official launch. COMP focuses on lending and borrowing with relatively good returns. The user receives interest for lending different cryptocurrencies. Interest rates vary depending on current market conditions.

The above-mentioned projects have different goals, but all tokens were able to get a high profit after launch. Analyst Qiao Wang says that Silicon valley companies will increasingly enter the DeFi market in the next few months, which can dramatically increase market capitalization. However, he calls for caution, as venture capital can quickly create a bubble that could cost investors millions:

“It seems that Silicon valley has finally discovered DeFi. Compared to the natives, they are usually late. They were late with BTC, ETH, and this time with decentralized Finance. But if history is anything to go by, they are inflating it, and they will create a huge bubble out of it in the coming years.”

No one has forgotten about digital gold

In addition to the DeFi tokens already mentioned, Jump Trading is said to have a significant amount of money in Bitcoin, but the amount of capital invested is not known.

Meanwhile, recent months have shown that more and more companies are investing in Bitcoin as a reserve currency. MicroStrategy recently acquired more than 20,000 PTS, and only price increases in recent months have allowed the company to exceed sales in recent years.

Another significant advance in the adaptation was PayPal’s announcement to integrate bitcoin And other crypto assets into their own digital wallet. Full deployment to all customers around the world is planned to the 1st quarter of 2021.