Odaily News Paul Veradttakit, managing partner of cryptocurrency hedge fund Pantera Capital, pointed out in the latest report that Bitcoin ETF will not be the only headline news for cryptocurrencies this year. The Bitcoin DeFi ecosystem, halving and tokenization will become the focus during the year. Paul Veradttakit said that although the impact of the economic downturn in 2022 on cryptocurrency prices will be as severe as the previous bear market, this is not because the cryptocurrency is facing an existential crisis. On the contrary, the main reason for the market collapse is leverage and bad actors. As the Bitcoin DeFi infrastructure matures, we may see the total locked-up volume of the Bitcoin DeFi ecosystem increase from the current US$300 million to 1-2% of the Bitcoin market value, which may be 10-15 billion based on current prices. Dollar.