DeFi
Amid Giant Crypto Rally, Hopes for Another DeFi Summer Soar
Since the crypto industry remains relatively small, there simply isn’t enough capital to lend to bullish people and therefore they don’t mind borrowing at high rates. Although institutions are clearly interested in crypto, they are not actually filling the gaps in market demand, Vogelsang pointed out. “An off-chain money market wouldn’t yield 12% just because there’s a lack of supply; someone would fill it. On-chain, that’s not the case,” he said. “It’s a sign of immaturity that way.”