Bernstein Expects DeFi To Make A Big Comeback
The crypto market recovery is expected to be broad-based, with decentralized finance (DeFi) leading the charge, according to a research report by broker Bernstein.
Analysts predict a big bang DeFi recovery and a return to the investor narrative as the future of blockchain finance.
Six out of the top ten revenue-generating protocols are DeFi applications, including Uniswap, Aave, Maker, GMX, Synthetix, and Sushi. DeFi, which encompasses various financial applications in cryptocurrency or blockchain, aims to disrupt financial intermediaries.
The report suggests that with real yields and regulatory clarity, global asset managers may consider DeFi exchange-traded funds (ETFs) and active DeFi funds.
Uniswap, the largest decentralized spot exchange, is expected to have revenues crossing $1b annually, with a floating market cap of $9.3 billion.
(With inputs from Shikha Singh)
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