January 01, 2022
![](http://images.ctfassets.net/enyh2ifk7on8/5nxXTMngkByZSNcmXxmdtW/4aceec238a4a9785b9d9a09dad7840af/PAUL-CAPPELLI-GFM_PM-006-V3.JPG?w=750&q=60&fm=jpg")
Digital assets sold off in December in a challenging market environment against the backdrop of year-end seasonality, portfolio rebalancing, profit-taking, and tax considerations. We see a deeper focus on web3 emerging, particularly within the DeFi sector, where we see an attractive rate of return relative to other sectors right now, including gaming, NFTs, and Layer 1 valuations.
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