2021 Q2 DeFi Industry Report, Waiting For Another DeFi Summer
TokenInsight saw huge volatility in the crypto market in 2021 Q2.
In April, most of the cryptocurrencies including Bitcoin and Ethereum hit their record. BTC was almost $65k, and ETH was close to $4.5k. The total market cap surpassed $2 trillion according to several data providers including TokenInsight.com. The market was crazy and most people were “out of their minds”.
Meanwhile, influencers on social media have manipulated the market, Bitcoin and Dogecoin specifically. Which caused the bubble of MEMEs. Everybody knows what happened after that.
DeFi has been heavily impacted by the market crash. TVL in DeFi decreased about 40% from ATH at ~$108 billion. The price of ETH was halved, which was still better than most the other DeFi protocols. After the crash, the market is recovering slowly with the growth of TVL and launches of several innovative protocols.
Funding activities in the primary market did not go crash like the performance of mainstream crypto assets. We believe that the derivative market (perp contracts, options, insurance, fixed interest rate, and others) has just started. We can expect another (bigger) “DeFi summer” coming in the near future. Let’s BUIDL and wait.
The whole report contains the following parts with 29 pages in total.
Please download to read the whole report.
DeFi