Messari: The DeFi wave may continue to 'produce many useless projects
With the value of the funds locked in DeFi nearly quadrupling in less than two months, the community is debating whether the DeFi investment wave will become a 'bubble'.
Data released by crypto market analysis firm Messari on July 29 indicates that the capitalization of the decentralized financial industry (DeFi) is just 1.5% of the entire capitalization of the money market. electronic.
According to Messari, the combined capitalization of each DeFi project is about $ 4.12 billion, which is even less than the fifth ranked cryptocurrency by market cap, Bitcoin Cash.
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Even the "Doge" meme coin is Dogecoin (DOGE), which is considered a fake version of bitcoin, which currently has a higher capitalization than many other DeFi projects except MakerDAO (MKR). .
DeFi's boom recently, according to some experts, was overvalued, overvalued.
According to analyst Ryan Watkins, the scale of the DeFi sector still has room to expand, but he thinks that the vast majority of first-generation DeFi projects are useless, and there will be many in the future. died.
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And according to Messari's data has shown that the most famous DeFi projects nowadays like Compound or Balancer are rare projects of real value.
The rest of the other DeFi projects have not been identified yet, many crypto analysts have questioned the immediate growth potential of current DeFi projects, with some suggesting that many projects could are the 'bubbles' waiting to explode.
The fact that Bitcoin price increased to 11,000 USD or ETH exceeded 320 USD reduced the 'hot' for DeFi tokens.
However, the DeFi wave has not stopped yet, it is still developing very strongly, projects related to DeFi are constantly being launched.
Currently the total value (USD) of funds locked in DeFi projects is currently at $ 3.7 billion, according to DeFi Pulse.