DeFi News Daily Official TheBitTimes.com

With the anticipation of an approval of the first spot Bitcoin (BTC) exchange -traded fund (ETF), trading on cryptocurrency exchange s has picked up the pace, surpassing the monthly volume of $1 trillion for the first time since September 2022. Indeed, December 2023 witnessed a massive uptick in crypto trading on exchanges, with the volume reaching $1.1 trillion, a level last achieved over a year before, according to the information shared by the crypto market monitoring platform on January 2. December 2023 vs. September 2022 As it happens, back in September, monthly trading volume for crypto exchanges crossed the $1 trillion mark, registering a total of $1.03 trillion. It is also worth noting that the recent figures set the highest monthly mark since May 2022, when trading volume hit $1.35 trillion, the platform said. Monthly spot market volumes across crypto exchanges. Source: The Block Notably, Binance was the top crypto trading platform of choice in December, during which i...

The bank predicts the private equity market to become the most “tokenized” asset class because it is more liquid and can be fractionalized. Investment bank Citi is betting on the blockchain-based tokenization of real-world assets to become the next “killer use case” in crypto, with the firm forecasting the market to reach between $4 trillion to $5 trillion by 2030. That would mark an 80-fold increase from the current value of real-world assets locked on blockchains, Citi explained in its “Money, Tokens and Games” March report. “We forecast $4 trillion to $5 trillion of tokenized digital securities and $1 trillion of distributed ledger technology (DLT)-based trade finance volumes by 2030,” the firm's analysts said. Of the up to $5 trillion tokenized, the bank estimates $1.9 trillion will come in the form of debt, $1.5 trillion from real estate, $0.7 trillion from private equity and venture capital and between $0.5-1 trillion from securities. Blockchain-based tokenization total ...