Some interesting DeFi data insights from DeFiLlama highlight how crypto whales are truly feeling about the bull market. Covered: DeFiLlama Data DeFi Then Is Not DeFi Today Bitcoin has sent the overall crypto markets on a rollercoaster of price swings since topping at $69,000 in November. Despite the wild swings we’re seeing in the crypto […] The post DeFi Data Shows That Whales Are Still Long On Crypto appeared first on CryptosRus.

DeFi Data Shows That Whales Are Still Long On Crypto

Some interesting DeFi data insights from DeFiLlama highlight how crypto whales are truly feeling about the bull market.

Covered:

  • DeFiLlama Data
  • DeFi Then Is Not DeFi Today

Bitcoin has sent the overall crypto markets on a rollercoaster of price swings since topping at $69,000 in November. Despite the wild swings we’re seeing in the crypto markets, however, on-chain DeFi data from DeFiLlama is pointing towards a much more stable market.

RECOMMENDED: FIRST ‘DEFI PLATFORM’ ON BITCOIN LAUNCHES ON STACKS

DeFiLlama Data

As you can see from the data analytics company, the total value locked (TVL) on decentralized finance (DeFi) protocols has only dropped roughly 20% from its previous highs of over $300 billion. At the time of writing, there is $260 billion in total value locked up in various DeFi protocols, staking tokens, farming in liquidity pools, questing heroes, etc.

As highlighted by crypto market analyst Miles Deutscher, the relative strength we’re seeing in DeFi can really be emphasized by looking at other metrics within the crypto markets. Bitcoin has fallen over 40% from its highs, the total crypto market cap has fallen 33%, but DeFi protocols have only fallen about 20%. So why is this bullish for crypto?

RECOMMENDED: MORE INSTITUTIONAL INTEREST IN CRYPTO — GOLDMAN SACHS, SYGNUM & STATE STREET

DeFi Then Is Not DeFi Today

Following the 2017 bull run, nearly every coin on the market dropped about 80-99% from the highs in 2018, along with the TVL locked up on all these protocols. The state of crypto DeFi in the previous bull run was much more uncertain as compared to today. A large part of the space was purely scams or ‘ghost’ projects, and it was missing institutional DeFi adoption. But 2017 was essentially the first year in which DeFi protocols could truly blossom, as Ethereum’s birth in 2015 opened the flood gates to DeFi adoption. Prior to that point, smart contracts and decentralized finance like we know and love today were not even a concept.

Today, however, DeFi is a much more legitimized space. Though the scams still run rampant, they take up a much smaller percentage of the DeFi sector. Between countries like Australia filing for Ethereum ETFs, and institutional DeFi investment protocols like Aave Arc, big-name companies and institutions are waking up the crypto asset class and feel much safer moving beyond Bitcoin.

The strength in DeFi markets is indicative of a healthy market, rather than a panicking one. Whales and retail alike are not rushing to remove liquidity from the markets as they see a bullish future ahead. So while the markets may be turbulent, DeFi liquidity is being put to work and earning yield for thousands of whales and retail investors alike. If you want to hop in on the action and earn yield on your crypto through DeFi, consider reading up on the pros and cons of DeFi wallets so that you can make a safe entry into the DeFi waters.

The post DeFi Data Shows That Whales Are Still Long On Crypto appeared first on CryptosRus.