Defi Market Cap Now $40 Billion
Earlier today, DeFi’S market capitalization made an all-time of about $40 billion, with its total locked value (TVL) capping at $30 million. This recent growth of the DeFi space does not come as a shock to many, as this already became evident when giant whales started moving money to unknown wallets and institutional investors were showing interest in DeFi.
Many consider the rise as “early,” indicating that people can still hop in the DeFi ride. There are expectations that DeFi is not going away very soon and will be in high demand in the future. As the need for more trustworthy platforms rises, it is reasonable to assume that people will start turning to DeFi for solutions.
Defi Related Products Rise Too
DeFi provides users with trust and security while performing several transactions on platforms built on DeFi. The rise in the DeFi market cap was accompanied by a rise in other DeFi-related products as well. According to the data from OKEx, Uniswap dominated the DEX market by 39% as the weekly average trading volume on decentralized exchanges increased.
James Tadora, the founder of Blockcapital, said that there had not been much hype for the ecosystem in the last year despite its evident growth and interest shown by institutional investors. He added that DeFi would give users autonomy over their money and nothing else in between them except for “hardened codes.”
What Does The Future Hold?
Todaro also mentioned that the DeFi space could outpace institutional investors and hedge funds. One exciting feature about DeFi is that it will even out the field for all players and create a space where both the mighty and small, large, and retail investors can benefit alike.
DeFi may evolve faster than expected as it gives retail investors hope for large profits, unlike in traditional investments where accredited investors mostly earn profits.