The crypto sector has experienced significant growth over the past two years, zooming from a $200 million valuation to more than $2.9 trillion.
This growth is based on four major factors.
• Institutional funds adopted Bitcoin and the decentralized economy.
It started with MicroStrategy and continued on to PayPal, Tesla, MasterCard, Twitter and increasingly more companies. All of these companies bought Bitcoin in order to invest and utilize it for payment. Some of the companies bought Bitcoin as an investment in their financial security. Additionally, Tesla’s worth is currently based more on the investment they made on Bitcoin than selling cars.
• Development of decentralized finance – DeFi – more applications, more technology and more users than ever
A number of projects that sounded like pipe dreams in 2017 - such as Aave, Uniswap and Doa – have since come to life, and enable users to create liquidity with decentralized tools, such as loans. Trading Arenas provide commissions that regular investments will never achieve, creating loans for many that are denied this option in traditional banking.
• Launch of super speedy smart contracts like Solana alongside scalability solutions for Ethereum like Polygon, Arbitrum and Optimism.
These networks arrived just in time, as the Ethereum networks became loaded and commissions and fees grew from a few cents to 60 dollars per transaction. These newer options provided smaller players with the ability to “stay in the game,” rather than relegating crypto-currency to an option available to big investors only.
The adoption of smart protocols enables NFTs to engage with art and games. These protocols use the “play model,” where gamers can convert their in-game earnings to cryptocurrency. Who would have believed as recently as even two years ago that someone would pay millions for a Jpeg image?
The Israel Crypto Conference was held last week in Tel Aviv, and some of the leading companies in the crypto arena are from Israel.
Celsius is a global dynamic platform that enables individuals to take control of their own financial independence by providing fair, rewarding, and transparent financial services to crypto holders around the world. Through the Celsius mobile and desktop apps, customers can earn yield, borrow funds, buy coins, and swap assets with over 40 of today’s top cryptocurrencies. Celsius’ services are not available in Israel.
“Crypto has proven itself as the single biggest financial opportunity of our lifetime,” said Celsius cofounder and COO S. Daniel Leon. “We are no longer questioning the vitality of crypto – we know it’s here to stay. The question now is, how will crypto transform our financial ecosystem as it continues to evolve?
“As we look ahead into 2022, it’s likely to be a year defined by a battle between three leading entities looking to control the future of crypto: governments, corporations, and decentralized institutions.
“We’ll see more countries follow China’s lead with digital versions of state-backed currencies, more developments within the corporate sector along the lines of Facebook’s Libra or JP Morgan’s JPM coin, and of course, the decentralized projects that ushered in this new era of finance will continue to compete for the top spot in the industry they created. It’s hard to say who will come out ahead by this time next year, but one thing is for sure, mass adoption is imminent and the next financial revolution is already upon us.”
Fuse Network is a public blockchain ecosystem that is looking to revolutionize the payments industry. Fuse is building on the Ethereum standard but focuses on use cases you won’t see today on Ethereum. Fuse’s goal is to become a decentralized Visa/Cash alternative that can be used anywhere in the world for a fraction of a cost and tailor-made for Companies, SMB’s, communities and individuals.
“Blockchains are a safe, low-cost option for storing and using money,” said Fuse.io CEO Mark Smargon. “The Fuse blockchain is leveraging these unique properties to bring consumer adoption for use cases we never saw before in crypto. We believe people will use blockchains in the future without being crypto investors or developers, or without even knowing there is a blockchain behind the scenes.
COTI CEO Shahaf Bar-Geffen noted, “There’s no doubt that in the future, all currencies will be digitized. Whether it’s states, central banks, financial institutions or private companies that issue them, the underlying technology remains the same and COTI is posed to deliver it.
“Efficient Frontier is a leading digital assets algorithmic trading and research company. We’re one of the largest players in the global digital asset markets, with daily trading volumes of over 200M+.”
Efficient Frontier co-founder and CEO Roei Levav said, “We’re partners with the biggest crypto exchanges out there, where we provide liquidity and market-making services, in both spot and derivatives markets.”