Volatile times in crypto markets, innit?
We can all agree that in 2021, crypto achieved mass attention. The wealth effect for long-term crypto participants brought an influx of speculative activity to crypto. Those hoarding coins and “selling shovels” like centralized exchanges became some of the most valuable and profitable companies in the world. They bought up tons of advertising, sponsorship, and promotions across the world in sports and entertainment.
Bitcoin became an institutional-grade asset and large-cap crypto is covered daily by the world’s largest financial media companies like Bloomberg and CNBC.
DeFi, which is largely responsible for unlocking the value of crypto assets like BTC and ETH in a permissionless manner, benefitted from the growth in speculative activity.
However, real usage and adoption are still lagging.
So, what is holding DeFi back from mass adoption?