Crypto fund Multicoin Capital has announced a new fund worth $100 million which will invest in DeFi, NFTs, Web3 applications and crypto infrastructure projects. The fund will focus its DeFi investments on the Solana (SOL) blockchain, which Multicoin has already invested in. Multicoin said that “there will be a burgeoning DeFi ecosystem on Solana written natively in Rust that takes advantage of Solana’s performance, and plugs into Serum’s composable on-chain order book.”
A report published by OKEx Academy, using research from CryptoCompare, found that weekly volumes of CME Ethereum futures hit an all-time high of $353 million for the week ending April 25. This represents a 166% increase on the week prior, in contrast $23.64 million worth of the new contracts were traded during the first trading week.
A paper published by the Federal Reserve Bank of St Louis has explored Ethereum’s booming DeFi sector and its implications for traditional finance. The paper suggested that if security risks are addressed the sector may cause a ‘paradigm shift in the financial industry.’
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Top stories in the Crypto Roundup today:
- Multicoin Capital Announces $100 million DeFi, NFT & Web3 Fund
- CME ETH Futures Growth Indicates Strong Institutional Interest in Ethereum: Report
- ‘DeFi May Lead to a Paradigm Shift in Finance’: Federal Reserve Paper
- Webinar: Join Us Tomorrow for a Live Discussion on Asset Management
- Sponsored: Introducing DeFireX – A Platform for Risk-Free Yield Farming
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Source: https://www.cryptocompare.com/email-updates/daily/2021/may/05/
