Cryptocurrency analysis firm Alphractal has published a new report revealing the sharp decline in DeFi market dominance, which has plummeted to its lowest level since the beginning of 2021.
According to the report, DeFi dominance is currently below 3%.
Alphractal pointed to a few DeFi assets with strong fundamentals that can offer flexibility and growth potential despite a broader market slowdown. The report highlights LINK, HBAR, AVAX, OM, UNI, AAVE, DEXE, JUP, ENA, and MKR as projects to watch.
The decline in DeFi dominance reflects a shift in capital distribution across the crypto ecosystem, but Alphractal argues that the downturn in value in the sector could make it an opportune moment for long-term positioning.
Bitcoin, the world's largest cryptocurrency, continues to maintain its undisputed leadership with a 61.65% market dominance. In previous altcoin bull markets, this ratio had declined to the 39% range. BTC dominance has been on the rise since the beginning of 2023 and currently stands at a level equivalent to May 2021.
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Cryptocurrency analysis firm Alphractal has published a new report revealing the sharp decline in DeFi market dominance, which has plummeted to its lowest level since the beginning of 2021.
According to the report, DeFi dominance is currently below 3%.
Alphractal pointed to a few DeFi assets with strong fundamentals that can offer flexibility and growth potential despite a broader market slowdown. The report highlights LINK, HBAR, AVAX, OM, UNI, AAVE, DEXE, JUP, ENA, and MKR as projects to watch.
The decline in DeFi dominance reflects a shift in capital distribution across the crypto ecosystem, but Alphractal argues that the downturn in value in the sector could make it an opportune moment for long-term positioning.
Bitcoin, the world's largest cryptocurrency, continues to maintain its undisputed leadership with a 61.65% market dominance. In previous altcoin bull markets, this ratio had declined to the 39% range. BTC dominance has been on the rise since the beginning of 2023 and currently stands at a level equivalent to May 2021.