DeFi-ning the DeFi; what does it have in store for 2023

Global regulators’ intervention in crypto markets seems to ask how decentralised finance (DeFi) trends will fare in 2023. For 2023, it’s believed that DeFi will play a role in traditional finance, along with developments around Web3.0-backed financial technology (fintech).

According to Grand View Research, a market research and consulting firm, global DeFi market is expected to clock a 46% compound annual growth rate (CAGR) for 2023-30. The firm further stated that DeFi’s adoption has expanded because of its ability to eliminate middlemen from financial procedures, as well as contributions from Esports and gaming sectors. “I believe decentralised derivatives and options are gaining traction as financial instruments.