Let’s Do This: What’s the Future of DeFi Going to be Like? – Investing.com India

Let’s Do This: What’s the Future of DeFi Going to be Like? – Investing.com India

It’s four-plus months into 2021, and DeFi is blowing the top. There are no signs of slowing down. Since the beginning of the year, DeFi has tripled in total value locked, rising from $15 billion to $45 billion. The drastic increase shows its potential to keep growing well into the near future.

It has always been like the boom and bust in the financial markets. Began in summer 2020, the “degen finance” made its presence felt. Some parts of the cryptocurrency community were alarmed about the unpleasant and portentous warnings of the ICO era.

Remember the Yam Finance debacle that has undergone a dramatic boom and bust within 24 hours? On the other hand, we saw “food finance” trending to hit the space. These kinds of cycles are already a known phenomenon in the financial market. Perhaps, financial institutions assumed that DeFi might mark a similar negative line on the financial markets. However, we don’t need to rush right away to decide on what it will be like with DeFi, the decentralized finance.

traces back to!
Bitcoin remained the first decentralized currency to run on blockchain technology. It brought a great revolution and laid the foundations for future cryptocurrency.