10X User Growth in Sight by 2022 for Emerging Crypto Sector, Says Venture Capital Head

    Venture capitalist Arthur Cheong, a successful crypto-focused, is making some of the bullish predictions regarding Ethereum and the decentralized finance (Defi) sector for the rest of 2021.

    Cheong, who is also leading crypto asset management fund DeFinance Capital said in a new interview on the Bankless podcast that the next step for the Defi actually involves a huge growth of user base while getting more products into the hands of the mainstream users.

    He made a prediction that by the year-end, the number of Defi users will multiply between five to 10 times while considering the pending scaling solutions.

    Cheong also made a prediction that there will be $80 to $100 billion in the whole value locked in the protocols of Defi by the year-end. The currency TVL in Defi protocols also stands at $56.31 billion during the writing time.

    Cheong said that Ethereum would trade somewhere between $5,000 and $10,000, and he named Defi protocols such as Aave, SushiSwap as the projects that will be undervalued in the growing crypto sector.

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