About
Information is our nourishment. Say hello to the data gods.
Meet Our Team
Consumers speak. We listen, analyze, and dig deep. You win!
Learn More
Solutions
Receive alerts and reports to power your fund management. Partner with our team of analysts to take your research to the next level.
Learn More
Plug our consumer-demand-data directly into your client-facing software, tools, and platform or work with us to create custom, high-value content your customers will love.
Learn More
Testing our data is like jumping in a time machine to compare market gains and losses against reliable and annotated historical data.
Learn More
Track specific tickers, receive alerts, and watch sector-specific trends. Drill down on individual stocks and see where consumer sentiment aligned with gains and losses in trading.
Learn More
Who We Serve
LikeFolio is your research secret weapon to sniff out game-changing shifts in the market before they happen.
Learn More
LikeFolio is source of quantitative data based upon real consumer insights to power your investment engine.
Learn More
LikeFolio is your content pipeline positioning your tool as an indispensable resource to your customers.
Learn More
LikeFolio has partnered with Tradesmith to build Derby City Insights and bring our powerful insights engine to private investors.
Learn More
Resources

DeFi and Cryptocurrency: The Future of Finance?

April 20, 2023

In 2022, rising rates, food price concerns, and inflation dominated the headlines.
But this year, the focus is on technology.

Specifically, technology that can make consumers and companies more efficient (hello AI) and technology that can help protect what matters to consumers, like their finances.

Consumers are worried following the collapse of two US banks and record outflows from smaller lenders. Deposits held by small US banks fell by a record $119 billion to $5.46 trillion after the collapse of Silicon Valley Bank in March. As uncertainty rises, the concept of DeFi is gaining momentum.

DeFi, or Decentralized Finance, is a financial system built on blockchain technology that operates without traditional intermediaries such as banks. It enables greater accessibility and financial inclusion for individuals.

Consumers are not just talking about DeFi -- they are also showing increased interest in cryptocurrencies.

Check out consumer mentions of trading and investing in cryptocurrency in Spring 2023:

Cryptocurrencies are often used as the native currency of many DeFi platforms. They provide a secure and transparent way to store and transfer value without the need for a trusted third party or intermediary.

This makes cryptocurrencies a natural fit for many DeFi use cases, such as peer-to-peer lending, decentralized exchanges, and other forms of financial transactions.

It’s no wonder Bitcoin and Ethereum prices have surged since the onset of banking turmoil.

Interest in cryptocurrency (notably Bitcoin) was already building prior to the Silicon Valley Bank Collapse…this just added fuel to the fire.

Landon, Megan and I highlighted this in LikeFolio’s February podcast.

Current data confirms rising demand for Bitcoin (+10% QoQ)…

…and especially Ethereum (astronomical):

Ethereum demand surged ahead of a key date for the cryptocurrency: a hard-forking upgrade capped off the network’s transition from proof-of-work to proof-of-stake.

More importantly, it allowed previous stakers to make withdrawals for the first time.

Since the Shapella hard fork on April 12, over 1 million ETH has been withdrawn from the Beacon Chain. However, more ETH is currently being staked than withdrawn for the first time since the upgradeThis suggests that the risk of mass selling due to unlocked ETH has been mitigated, with validators choosing to restake their unlocked Ether.

Despite near-term volatility in crypto-markets at large, consumer sentiment is building for both Ethereum and Bitcoin. This bodes well for long-term investors.

Related Posts

Related Posts

Related Reports

KEEP YOUR COMPETITIVE EDGE

Get FREE insights in your inbox every week with the Daily Drop.

About LikeFolio

LikeFolio analyzes social media data to accurately predict shifts in consumer behavior. We sell data and insights to professional investors, corporate research teams, and software providers.

Partner Sites

© 2024
 LikeFolio. All Rights Reserved.
Privacy Policy
|
Terms of Use
LikeFolio userslaptop-phonepie-chartselect