Skip to main content
A scary good deal on trusted journalism
Get full digital access to globeandmail.com
$0.99
per week for 24 weeks SAVE OVER $140
OFFER ENDS OCTOBER 31
A scary good deal on trusted journalism
$0.99
per week
for 24 weeks
SAVE OVER $140
OFFER ENDS OCTOBER 31
// //

Voyager Digital Ltd CSE: VYGR-CN

Today's Change
Volume
Real-Time Last Update CSE Last Sale

More stories below advertisement

DeFi Locked Value Surpasses $80B and Expert Believe It Could Grow 10X

PR Newswire - PRF - Tue Aug 31, 7:50AM CDT
  

FN Media Group Presents Microsmallcap.com Market Commentary NEW YORK , Aug. 31, 2021 /PRNewswire/ -- Decentralized Finance (DeFi) took the world by storm in 2020, recording a 14x growth that year. Now,   DeFi is a billion-dollar industry valued at $81.85 billion and experts say we can expect even more growth in the coming year. One veteran crypto investor, Matthew Roszak believes that the DeFi sector will see 10x growth to become an   $800 billion industry thanks to increasing mainstream crypto adoption, the global chase for yield, and increased inflation. The fast-growing market is still in its early stages, offering an advantage to first movers like WonderFi Technologies Inc. (NEO:WNDR), Riot Blockchain (NASDAQ:RIOT), Voyager Digital (CSE:VYGR) (OTCQX:VYGVF), Coinbase Global (NASDAQ:COIN), and DeFi Technologies (NEO:DEFI) (OTC:DEFTF), which are all positioned to benefit from the projected growth of the DeFi industry. WonderFi Technologies Inc. (NEO:WNDR) is focused on bringing DeFi to the masses by simplifying user interaction with decentralized finance and reducing complexities that are preventing the mainstream adoption of DeFi. The company was co-founded by Ben Samaroo , Cong Ly and Kartik Bajaj, whose previous cryptocurrency startup First Coin Capital sold to Galaxy Digital in 2018 in connection with its public listing on the TSXV, and Dean Sutton , Co-Founder of LQwD Financial Corp. and a founding advisor to Argo Blockchain.

In June, WonderFi Technologies Inc . raised approximately $17.7 million in a financing round led by Canaccord Genuity and PI Financial Corp. and included several key institutional and strategic investors. The company also underwent a name change after its strategic investor Kevin O'Leary's nickname Mr Wonderful.

Apart from gaining former crypto skeptic O'Leary as an investor, WonderFi Technologies also garnered investments from Argo Blockchain, BIGG Digital, MindMed co-founder Leonard Latchman , social media influencer Josh Richards and crypto billionaire and FTX founder Sam Bankman-Fried .

"We've now brought in a really big name in crypto… a crypto icon who built FTX, which is one of the largest crypto exchanges in the world and the most rechnologially advanced, as well. He is now an investor, so we are super excited about that and it's a very strategic move for us," said WonderFi CEO Ben Samaroo in an interview .

Crypto Stock Growth as DeFi Industry Expands

Riot Blockchain (NASDAQ:RIOT) , a leading bitcoin mining company in the US, released its   financial results for the second quarter of 2021, recording a 1,540% increase in mining revenue to $31.5 million compared to $1.9 million for Q2 2020. Riot attributed the revenue growth to the company's resolute focus on bitcoin mining as well as the acquisition of Whinstone US, which has allowed the company to expand its operations and services. In addition to increased revenue, the company has also increased the total number of bitcoin mined from 491 BTC in Q1 2021 to 675 BTC in Q2 2021 bringing the total number of BTC from its mining operations to 2,687 (unaudited) as of July 31, 2021 .

Voyager Digital (CSE:VYGR) (OTCQX:VYGVF) has become one of the fastest-growing publicly traded cryptocurrency platforms and it is easy to see why. Voyager has been involved in a series of acquisitions and deals including an   agreement to jointly operate a brokerage platform with Market Rebellion. The company recently released an update on the agreement, stating that the two companies will provide online brokerage services for equities, options, and futures. The two companies will invest 50% each into the deal after FINRA approved the 50% investment by Market Rebellion. Voyager also   partnered with fintech and integrated electronic payment solutions provider, Usio Inc. to enable merchants to accept major cryptocurrencies as a payment method.

According to a recent   letter to shareholders , Coinbase Global (NASDAQ:COIN) recorded strong growth in Q2 2021 recording a 44% increase in monthly transacting users from Q1 2021. The platform recorded 8.8 monthly transacting users and 68 million verified members. Coinbase also has more than 9000 institutions and more than 160,000 ecosystem partners. On the revenue front, Coinbase reported a net income of $1.6 billion and an Adjusted EBITDA of $1.1 billion . As part of its future outlook, Coinbase plans to introduce more assets to the platform, provide its products to international markets and integrate with third-party interfaces and self-custody to tap into the growing use cases including DeFi, NFTs, and DAOs.

Valour Inc., a wholly-owned subsidiary of DeFi Technologies (NEO:DEFI) (OTC:DEFTF) continues to drive value for DeFi Technologies after   recording an increase of more than 1400% in assets since the beginning of 2021. Valour's ETPs surpassed I billion Swedish Krona in assets under management bringing its total AUM to US$143.5 m as of August 18, 2021 . Some of the assets that have recorded significant growth include Bitcoin Zero, which has grown its assets by 1055% since January.

WonderFi Technologies Inc. (NEO:WNDR)  is one of the companies positioned to benefit from the explosive growth of the DeFi industry.

To learn more about WonderFi Technologies Inc. (NEO:WNDR), click here .

Disclaimer:  Microsmallcap.com (MSC) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of WonderFi Technologies Inc.

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.

Media Contact:
FN Media Group, LLC
info@financialnewsmedia.com
+1(561)325-8757

Cision View original content: https://www.prnewswire.com/news-releases/defi-locked-value-surpasses-80b-and-expert-believe-it-could-grow-10x-301365595.html

SOURCE Microsmallcap.com

comtex tracking

COMTEX_392488138/2454/2021-08-31T08:50:05

More stories below advertisement

All market data (will open in new tab) is provided by Barchart Solutions. Copyright © 2021.

Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. For exchange delays and terms of use, please read disclaimer (will open in new tab).

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies