The great digital asset exchange Huobi Global has launched a new investment arm focused on decentralized finance (Challenge) and initiatives Web3. The new fund joins the list of venture capital plans in the space crypto. Therefore, venture capital inflows into the cryptocurrency space have continued to rise despite the market downturn.
Deployment of funds from billions of Ivy Blocks
The new investment arm of Huobi world is called ivy blocks. The division manages more than $1 billion in assets to be deployed on specific projects. The company stated that the funds are earmarked for “identify and invest in promising blockchain projects.”
Projects Challenge and Web3 selected for the the program will benefit financing and a variety of services that contribute to the success of the project. These services include asset management platforms, dedicated research units, and blockchain incubators.
Lily Zhang, CFO of Huobi Global, said “the company’s asset management arm will provide cash investments to support projects Challenge Y Web3 looking to start their operations. »
The first project financed by Ivy Blocks is Capricorn Finance. It is a market maker automated based on the Cube blockchain. Other projects should follow and benefit from the wide range of services offered by the platform.
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the Challenge heavily affected by winter crypto
Ivy Blocks’ emphasis on space Challenge It comes at a crucial moment. The total value locked TVL in the industry Challenge has dropped considerably during the last month. All Challenge TVL it is currently around $133 billion. Whereas in December 2021, Challenge TVL it was $316 billion, which is a big drop.
The misfortunes suffered by the industry Challenge stemming from the crypto winter buzz that has dominated the industry since early 2022. Market analysts point out that these gains are coming from the current bear market. Analysts say bear markets are healthy because they form after “irrational” periods of sharp asset price increases.
Space Challenge took a big hit after the collapse of Terra LUNA. Terra is one of the largest blockchain fields and prior to its collapse it was listed as the second largest blockchain network by TVL. The Blockchain Crash Has Reduced Investor Confidence In The Space Challengeand the chips Challenge They have been hit hard in recent months.
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