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DeFi bubble, NFT and market adjustment



Is there a bubble in DeFi? Yes, but who doesn't?

If there is a bubble, the DeFi bubble is definitely not the biggest one!

As of the writing of Blue Fox Notes, according to Coingecko's statistics, the market value of DeFi is about 13.5 billion U.S. dollars, the market value of XRP is about 10.4 billion U.S. dollars, and the total market value of the entire encryption market is 341.8 billion U.S. dollars.

Compared with the overall encryption market value, DeFi accounts for about 4%.

Compared with the market value of XRP, XRP is equivalent to about 77% of DeFi.

Among the top 20 projects by market capitalization, only a handful of projects are comparable to DeFi projects in terms of fees captured.

The picture below is from the statistics of MESSARI:

The lock-up volume of the DeFi protocol Compound has exceeded 13 billion US dollars, hitting a record high: Jinse Finance reported that according to the latest data, the lock-up volume of the DeFi protocol Compound has exceeded 13 billion US dollars, a record high. At the time of writing this article, it was 13,317,919,044 US dollars. At present, the total amount of Compound loans is 9,557,806,854 US dollars, and the total number of users is 385,485, both of which have also hit record highs. In addition, Compound has 2,196 contract interactions in the last 24 hours, and the number of interactive users is 461. [2021/9/6 23:03:35]

According to MESSARI's statistics, the overall market value of DeFi is not even as high as that of XRP; in the market value of the encryption market other than Bitcoin, DeFi is only 4%. This means that in the field of encryption, DeFi is actually still very small, not even one-tenth of the market value. Compared with the entire encryption field, the DeFi bubble is relatively small.

Kava CEO: DeFi will get rid of the dominance of Ethereum in 2021 and become more diversified: On November 1, Kava CEO Brian Kerr said in an interview that by 2021, DeFi will break through the control of Ethereum, Get rid of the dominance of Ethereum, and the industry will become more diverse. Although Ethereum is now the undisputed leader, its role will eventually fade. Problems such as network congestion and high gas fees will weaken its dominance. (Crypto Potato) [2020/11/1 11:23:08]

Let’s take a look at the current fee capture situation in the crypto market:

As can be seen from the figure above, according to the seven-day average daily capture fee ranking, the top three are Ethereum, Uniswap, and BTC, and most of the top rankings are DEX in DeFi, such as Curve, Balancer, SushiSwap, etc. Except for Ethereum and Bitcoin, the fees that DeFi projects can capture have far exceeded other protocols and projects.

OKEx: DeFi Mining Negative Yield System Shows BUG Please Wait Patiently for Upgrade and Repair: According to the OKEx official blog, a netizen posted on Weibo on the 3rd that DEFI stablecoin mining has already experienced negative returns, and reminded that all locks in the exchange Those who mine in warehouses should pay attention and withdraw funds in time. In this regard, OKEx CEO Jay Hao replied to the netizen, saying that during the system upgrade, there is a BUG displayed, and it can be restored after the upgrade and repair are completed. In addition, in response to a question from some netizens, the amount was wrong when they withdrew before, will it be reissued? Jay Hao replied that there is a lock-up record, and if there is a problem with the amount, it will be reissued later. [2020/10/4]

Even if there is a bubble in DeFi, it is a relatively small bubble in the encryption field. If you want to go to the bubble, the first thing to go is not DeFi, but others. Among the top 50 crypto projects by market capitalization, how many projects do not have much ecology, few users, and no value capture? These items will be eliminated in a future round of replacements.

The second phase of the Huobi DeFi mining zone will be launched at 12:00 on September 19: According to the latest news from Huobi, Huobi will launch the second phase of the DeFi mining zone at 12:00 on September 19 (GMT+8). Futures products, users can pledge USDT, BTC, ETH to enjoy DeFi liquidity mining rewards. The platform will airdrop rewards to locked users according to the actual income every day. The management fee is 20% of the income, and users no longer need to bear the gas fees generated by operations on the chain. the

Mining rewards are distributed according to actual income (such as CRV), and the specific rewards will fluctuate according to the actual situation. [2020/9/18]

At the current stage, DeFi projects just calm down to build technology and products, especially the construction of layer 2, cross-chain construction, and user experience construction can be considered. When these are completed, projects with millions of users or even tens of millions of users may appear in the future.

The NFT market is not just MEME, encrypted games, and art collections

NFT has been developed since 2016, when the encrypted games "Age of Chains" and "Rare Pepes" were all related to NFT. The most notable NFT development in 2017 was the popularity of encrypted cats. The NFT in Decentraland has also begun to attract the attention of early followers after 2018. The land, virtual buildings, wearable items, etc. on it all have transaction value. In addition to games and digital art collections, NFT has now expanded to domain names, sports and other fields.

According to NonFungible statistics, the total transaction volume of the NFT market today exceeds 110 million US dollars, and more than 4.8 million NFTs are sold, with an average price of 23.36 US dollars.

The development of DeFi has also brought NFT into a new field: the field of combination of NFT and DeFi. Now NFT-based lending is starting to appear, such as cryptokitties-based lending.

The user mortgages the encrypted cat and lends 22ETH of assets. NFT sometimes has insufficient liquidity, and tokens such as ETH can be loaned out by mortgaging NFT assets, which is also a good way to achieve its liquidity.

One foundation paid over $150,000 for the four adorable Axies below. Is it a bit of a throwback to CryptoKitties 2017?

When it comes to NFT, people focus on art collections, as well as various MEME and encrypted games, but NFT is far more than that. The largest market for NFT in the future will be the NFT of off-chain assets. In the future, the NFT of various assets such as tickets and invoices will NFTization, of course, there are many problems to be solved here, it is not a matter of a day or two. Today's Meme, encrypted games, and art collections are the places where NFT is most likely to break through, and the future encrypted NFT market may be even broader.

Since NFT is a non-homogeneous token, it has more personalized features, which is destined to not be the current main course. High threshold, it takes a long time to develop, people need more patience. the

There is no market without ups and downs

Any market has ups and downs. The crypto market has more ups and downs than other markets. On the way to the peak, there are ups and downs. The encrypted market is a social practice display of human nature and social psychology. The important thing is how to maintain the proper position in the process.

The picture above shows the adjustment of the encryption market in March this year, which is only half a year ago.

What will the future hold? The world is unpredictable and no one has a crystal ball to predict the future. However, there will continue to be ups and downs in the future, and there may be black swans, but this is all part of the journey to the top. DeFi will continue and complete its historical destiny.


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