Messari: DeFi Can Continue to Grow as ‘Useless’ Top 30 Coins Wither

[Riya143]

With the value of funds locked in DeFi almost quadrupling in less than two months, the community is debating whether DeFi is in a bubble.
Data published by crypto market analytics firm Messari on July 29 indicates that the collective capitalization of the decentralized finance (DeFi) sector is equal to only 1.5% of the entire crypto capitalization.

According to Messari, the collective capitalization of every DeFi project put together is roughly $4.12 billion — less than that of the fifth-ranked crypto asset by market cap, Bitcoin Cash (BCH).

Watkins also noted that “literal meme coin” Dogecoin (DOGE) boasts a larger capitalization than every DeFi project with the exception of MakerDAO (MKR).
Read More: https://cointelegraph.com/news/messari-defi-can-continue-to-grow-as-useless-top-30-coins-wither