Perhaps it was inevitable, but the crypto’s defining trend of 2020 appears to be subsiding. While not quite dead, the numbers indicate that the DeFi markets are starting to cool off. After reaching a peak of $12.5 billion total value locked towards the end of October, investment has tapered off towards $10 billion over recent weeks. Furthermore, according to Dune Analytics, DEX trading volume was down in October, for the first time in 2020.
Is DeFi dying? After all, even as all the indicators showed sentiment was increasingly bullish, some were predicting that it was a bubble bound to burst.
It seems highly unlikely that DeFi will vanish altogether. Based on current trends, what seems more likely is that 2020 has seen the first iteration of DeFi come to fruition. Now, projects and crypto companies are iterating on DeFi to create a new generation of decentralized products that merge with other crypto concepts to extract even more value.
DeFi Meets IEOs
Indian cryptocurrency exchange Bitbns is one such example of this merging of trends. The company recently launched a brand-new concept on their test net — a decentralized token launchpad platform. It’s called Ascent, and it’s a kind of crossover between DeFi and the ...
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