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Bybit Institutional Report 2024: Institutions Become Bullish and Eye Challenger Chains, while VC Funding Resurges for Infrastructure, Gaming, and AI

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DUBAI, UAE, April 18, 2024 /PRNewswire/ — Bybit, one of the world’s top three crypto exchanges by volume, partnered with Treehouse, the industry-leading research institute that offers professional insights into digital assets, and co-launched its 2024 Institutional Industry Report. It provides an extensive analysis of the current state of crypto adoption worldwide, examining how it compares to traditional finance (TradFi).

During the period from October 2023 to March 2024, the crypto sector experienced a significant surge in value, with its market cap increasing from slightly above $1 trillion to over $2.5 trillion by the end of March. This upward trajectory reflects growing investor confidence and a substantial influx of capital into the crypto ecosystem.

Delving deeper into the findings, the report reveals bullish trends in the derivatives market, along with indications of increasingly aggressive on-chain activities for BTC and ETH. It also explores institutions’ investment behaviors through on-chain metrics and highlights growing interest in AI and BTC ecosystem projects.

Additionally, the report investigates the potential long-term impacts of ETFs and offers insights into what can be expected from the upcoming bitcoin halving event, as well as key themes highlighted for a 2024 bull run which is beginning to show early signs of upticking.

Institutional Focus Areas: Key Highlights

1. Derivatives market becoming increasingly bullish

Examining the long-term call-put skews over the 30 days in March 2024 reveals a notably bullish sentiment despite the relatively sideways movement in the market during March, with both BTC and ETH generally exhibiting a large call premium.

This trend suggests that investors maintain a generally bullish outlook on the long-term price potential of these two crypto majors toward the end of the year.

2. Bitcoin as the perfect TradFi hedge

Both BTC and ETH’s correlations with traditional indices, equity, or fixed income, remain below 3% in all instances. Of particular note, BTC specifically demonstrates negative correlations of returns with major equity indices, indicating its potential role as a diversification hedge for equity-focused portfolios.

With a modest 5% allocation into BTC and ETH (equally weighted), the S&P 500’s Sharpe ratio can be increased from 2.20 to 3.15, representing a 43.6% increase. This effect becomes more pronounced as investors willingly take on additional risks and allocate more capital to their crypto portfolios.                                                        

3. Renewed Interest toward challenger chains   

Since the beginning of Q4 2023, native tokens of challenger chains have experienced significant performance as compared to ETH. For example, SOL emerged as the top performer among these challenger tokens, continuing the trend observed in 2021 as the biggest challenger chain by TVL and transaction volume. 

4. Boosting funding: infrastructure, gaming, and AI projects

Venture Capital (VC) funding in the crypto industry has seen a significant resurge. In Q4 2023, VC deal counts rose by 21% to reach 174 deals, with disclosed funding reaching $1.42 billion, a 29% increase. In Q1 2024, there were 243 deals with disclosed funding totaling $1.94 billion, representing a further 36% increase compared to Q4 2023.

Infrastructure projects remain the primary focus of VC investments, attracting substantial capital to support the foundational elements of the blockchain ecosystem. These projects span various sectors, including hardware wallets and blockchain data providers, offering crucial solutions to address industry challenges and drive innovation.

As the traditional market integrates with crypto, it presents constant challenges for TradFi participants and newcomers to navigate through the heightened complexities. Staying informed is crucial to stay ahead in this evolving landscape.

To read the full report, visit: https://learn.bybit.com/crypto-insights/bybit-institutional-x-treehouse-crypto-landscape-in-q1-2024-analysis-narratives/ 

#Bybit / #TheCryptoArk

About Bybit

Bybit is one of the world’s top three crypto exchanges by volume with over 25 million users. Established in 2018, Bybit offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
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Teal secures $8M seed funding for groundbreaking accounting solution

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Teal has announced a significant milestone in its journey to transform SMB accounting with the closure of an $8 million seed funding round.

According to TechFundingNews, the company, which focuses on providing accounting infrastructure for Vertical SaaS businesses, aims to address the critical need for integrated financial solutions within various platforms.

Founded by industry veterans Ian Crosby and Adam Saint, Teal stands out in the FinTech landscape for its unique approach to accounting services. Leveraging their expertise from founding Bench Accounting and working at Shopify, Crosby and Saint have developed a platform that empowers Vertical SaaS businesses to offer customised accounting suites to their SMB customers.

One of the key challenges faced by SMBs is the lack of seamless accounting solutions integrated into their core business platforms. Teal aims to bridge this gap by equipping companies with the necessary APIs and tools to build their own accounting offerings. This enables SMBs to access crucial insights such as real-time cash flow, per-product profitability, and streamlined tax filing processes.

Teal’s comprehensive suite of out-of-the-box tools enables Vertical SaaS companies to launch their accounting platforms swiftly, often in as little as four weeks. These tools include fully functioning app code repositories and seamless data integrations with external sources like Plaid, enhancing the overall user experience for SMBs.

According to Ian Crosby, Co-Founder and CEO of Teal, the company’s vision is to become the “Stripe for accounting,” providing the foundational infrastructure for Vertical SaaS companies to embed accounting features seamlessly. By integrating accounting software directly into their platforms, businesses can enhance customer engagement and drive adoption of financial services features.

The significance of Teal’s innovative approach has not gone unnoticed in the investment landscape. Torch Capital, a leading investor in tools and platforms for SMBs, led the recent $8 million seed funding round. Partner Katie Reiner expressed enthusiasm for Teal’s mission to revolutionize the SMB accounting space, citing the dire need for intuitive and streamlined accounting tools.

In an era where embedded finance is gaining traction, Teal’s commitment to offering tailored accounting solutions signifies a promising step towards empowering SMBs with the financial tools they need to thrive in today’s competitive landscape.

Source: fintech.global

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Digital China’s Guo Wei Shares ‘China’s Sample’ of Global Digital Innovation with London Business School

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LONDON, May 22, 2024 /PRNewswire/ — On May 21st, at the invitation of London Business School (LBS), Guo Wei, Chairman of Digital China, participated in the esteemed “Managing the Digital Organization” lecture, engaging with a cohort of prospective business leaders. Focusing on the trending topics of ‘Artificial Intelligence’ and ‘Digital Transformation’, he imparted the digital philosophy and practices of Chinese enterprises amidst the digital civilization era.

Digital China, a prominent player in China’s digital economy, has harnessed over two decades of deep involvement in the nation’s information industry to embrace the power of digitization. This has culminated in what Guo Wei refers to as ‘China’s Vibrant Blueprint for Digital Transformation’, carving a distinctive path of digital metamorphosis. Notably, Digital China’s transformation narrative has been incorporated into LBS’s esteemed case library, underscoring its significance as a teaching instrument.

In his lecture, Guo Wei emphasized that the digital economy now constitutes the backbone of supply, with digital technology emerging as the paramount catalyst for economic expansion. The hastening pace of global digitization propels us into an epoch of digital civilization. For multinational corporations, digital strategies have escalated to the status of corporate strategy, and the amassing of data assets constitutes the pivotal lever for business innovation. Amidst this evolution, AI-fueled digital-cloud integration signifies a disruptive technological innovation, poised to invigorate the global landscape. Digital China feels honored to reprise its role in elite international business school case repositories, thereby contributing insights to academia. This recognition signifies that Chinese enterprises’ digital and AI acumen resonates globally, exemplifying world-class practices.

Professor Julian Birkinshaw, Vice Dean and Professor of Strategy and Entrepreneurship at LBS, remarked, “As a global institution, we constantly seek out exemplary cases worldwide. Digital China was chosen not solely due to its prominence in China but also its sophisticated implementation of digital technologies, demonstrating adaptability and offering invaluable insights to our students about the contemporary business milieu. The story of Digital China encapsulates Mr. Guo Wei’s philosophy – digitization transcends being a mere process; it embodies the existential rationale for companies. This philosophy underpins our decision to feature Digital China in our case studies.”

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Endava partners with Finexos to revolutionise AI-driven credit risk management

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Endava, a leading technology services company combining world-class engineering, industry expertise, and a people-centric mindset, has announced its partnership with Finexos, an AI-powered credit risk and analytics platform.

The partnership aims to leverage Finexos’ state-of-the-art credit risk engine to enhance credit decisioning processes, significantly increasing the accuracy of suitability and affordability calculations for banks and lenders. This collaboration will enable more borrowers to access affordable credit while reducing non-performing loans and improving capital allocation.

Endava, with over 20 years of industry expertise, helps financial institutions position their products and services at the forefront of innovation. Through world-class engineering, Endava supports customers in meeting the demands of responsible lending.

Finexos offers a unique methodology to improve credit decisioning, making it possible for larger volumes of borrowers to access affordable credit. Their advanced AI-powered software helps reduce default risks and improve capital allocation for lenders.

The collaboration allows Endava to integrate Finexos’ AI credit decisioning software into their services, helping financial institutions provide responsible lending solutions. This integration aims to increase accessibility for a broader range of customers and provide a more accurate assessment of borrower risk.

Finexos’ cost-effective data science SaaS platform enriches data analysis, speeds up decisions for borrowers, and reduces costs for lenders. The platform operates without geographical constraints, works within institutions’ firewalls, and ensures data security by not accepting or requiring personally identifiable information (PII).

Endava’s head of alliances and partnerships Lewis Brown said, “The addition of Finexos strengthens Endava’s banking ecosystem with new and existing AI-based software and also brings to our clients new tools that fuel growth and react to new and future regulatory requirements.”

Matthew Williamson, SVP & industry principal at Endava, mentioned, “At Endava, we are delighted to announce our partnership with Finexos, demonstrating our ongoing commitment to financial inclusion. This relationship authentically aligns with our core values, using technology and democratising access to financial instruments. Giving individuals and communities the ability to access fair, consistent next-gen real-time credit scoring. Empowering economic growth and stimulus.”

Source: fintech.global

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