How DeFi adoption varies across chains, BTC price affects velocity

Jul. 21, 2023

By Liam 'Akiba' Wright

Exploring the intriguing journey of DeFi - from its summer bloom to navigating the bear market's murky waters.

The ‘DeFi Summer’ of 2020 was a turning point in the blockchain industry, as the season saw the debut of several DeFi projects, signaling the dawn of a new era in finance.

DeFi’s evolution during this period didn’t just make waves; it catalyzed a paradigm shift, positioning itself as the bold trailblazer of this unprecedented movement.

Yet, what does the momentum that the industry felt in 2020 look like in terms of hard data?

Today, with token prices down up to 90% as we navigate the murky waters of the current bear market, we look at the velocity of DeFi adoption and the impact of market cycles on adoption.

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