Dare to DeFi – Is it Too Late for Bitcoin and Ethereum Holders?
Are you too late? Have you seen some gains for Ethereum, ChainLink, YFI, Aave, and more, and it’s getting annoying?
According to data from Dune Analytics, DeFi protocols have been used by 400,000 users.
Robinhood has approximately 14 million users.
There are around 20 to 50 million people estimated to have owned Bitcoin or currently own BTC.
An estimated 33 percent of American adults have non-retirement investments, implying around 80 million individuals with brokerage accounts.
So that’s cool and all, but what is going to drive the price appreciation for Bitcoin Eth and a few others?
A foremost growth catalyst seems to be capital migrating from defunct cryptocurrencies to DeFi. Eric Conner, a podcaster in the space, wrote earlier this year that the “ghost chains” represent a $50 billion growth opportunity for Ethereum and DeFi:
So that’s a lot of potential people still yet to try and get in.
The ghost chain reckoning is coming. There is well over $50bn in market cap value for chains no one uses. They will all be usurped by DeFi apps with actual use by the end of this market cycle.
Disclaimer: I am not a financial adviser and this is not financial advice.
#crypto #cryptocurrency #bitcoin