DeFi Pre-2021 is Once-in-a-Decade Opportunity, Says Ex-Head of Messari

  • Total value locked figures for DeFi have climbed from $674M in January to over $6.7 billion
  • WANG Qiao, Ex-Head of Product at Messari is optimistic about DeFi’s futuristic technology and potential

Decentralised Finance (DeFi) has been a hot trend in the cryptocurrency market this year, with several new Defi projects offering extraordinary use cases and returns to the market on decentralised lending protocols. Despite the rising popularity among investors and tech-savvies, Defi is still naive, and there are numerous risks associated with it, a recent example being SushiSwap’s capitulation and recovery. Notwithstanding the odds, it drew an astonishing amount of funds.

Defi has been a growing sector this year, given that the total value locked figures for DeFi have climbed from $674M in January to over $6.7 billion, at the time of writing. The sharp surge in any market usually fuels drawing parallels. The same case here and many critics call for some caution, fearing a bubble while many are optimistic about DeFi’s futuristic technology and potential.

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WANG Qiao, Ex-Head of Product at Messari, is one of them. Wang has been been writing that the Bitcoin before 2013 and Ethereum before 2015 were once-in-a-lifetime asymmetric bets from an investment point of view, he further added that DeFi before 2021 is a once in a decade opportunity in his opinion. Looking at the current Defi market he added that the last two months have been very dramatic, people shouldn’t get distracted from these things Instead they should try real products of defi and realize it’s potential.

DeFi Just a bubble?

Those who witnessed the rise and fall of altcoins in late 2017 and throughout 2018 know-how a bubble looks. During Bitcoin’s sudden rise in 2017, altcoins saw record gains, which raised the eyebrows of many, and some renowned financial pundits predict that Bitcoin is a bubble waiting to burst. Like 2017, it seems that DeFi is the new rising star in the block, and stats have revealed that money flows in its direction. However,  the question remains whether the DeFi is real or just a bubble. DeFi projects are gaining traction in the market. Yield farming, DeFi lending, payments, and DEX are some of the most profitable sections. 

The cryptocurrency market recently suffered major losses, and market experts believe that the DeFi bubble has burst. The sell-off by Chef of SushiSwap has turned out to be the darkest chapter in Defi History. Not just Sushi but also other top DeFi tokens such as Curve (CRV) and Meta (MTA) lost more than half of their price over the past seven days, speculations on whether DeFi Bubble Burst has burst have beenburst been brought into question. The same speculations were made during 2017’s crypto crash however, it has been three years and not just bitcoin but other altcoins are also standing strong in the market. Defi is also believed to survive and thrive despite setbacks. 

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Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.

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