TokenInsight saw a 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 several data providers including TokenInsgiht.com. The market was crazy and most of people were “out of their minds”.
Meanwhile, influencers on social media has 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 of 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:
4-Summary and Outlook
11-Synthetic Assets and Indexes
19-Float Interest Rate Projects
21-Fixed Interest Rate Projects
24-Infrastructure, Yield projets & Layer 2
28-DeFi on Non-Ethereum Chains
Please download to read the whole report.