One analyst predicts that the field of decentralized finance (DeFi) will continue outperforming Bitcoin and Ethereum. We are talking about Luke Martin, who recently said that “new digital assets” based on decentralized finance (DeFi) will continue to blossom and dominate the markets with sky high profits.
Luke Martin is in the crypto news today, talking on his show and predicting that the new assets are only starting to outperform Bitcoin and Ethereum. According to him, the main obstacle right now is adoption. He said:
Mainstream attention is not yet on this thing. There are actually a lot of crypto investors who aren’t in DeFi yet either, the reason being it’s not attracting mainstream interest. They’re also not the easiest things to buy. A lot of these coins are unknown, even the concepts are hard to understand and to acquire them is also quite difficult. Even people that want to get in I think have been hesitating because they’re waiting for a full-blown alt season or for Bitcoin to rip. So you have a really unique trend happening here in crypto…
The analyst predicts that DeFi is the new reality, stating that altcoins have been the best performing assets in recent months. In that manner, he believes that this trend will continue for tokens such as the Compound COMP token, which just surpassed $1 billion in market capitalization.
Playing with some of the numbers on @defipulse…
The positive relationship between Value Locked & Market Cap is expected, but still interesting.
— Luke Martin (@VentureCoinist) July 13, 2020
In addition to this, Martin spoke about the impressive performance of LINK in the Chainlink news. For those of you who don’t know, LINK managed to reach historical highs and has yielded 600% gains in the last 6 months.
“These coins are flying every single day. Regardless of what Bitcoin or ETH or the rest of the crypto market does, right now money is being allocated to these DeFi altcoins. It’s been the best performing group, and I actually think it will continue to be the best performing group.”
In addition to all that he mentioned, the analyst predicts that there will be more DeFi tokens brought into the spotlight. He also said that Chainlink will continue to be the biggest beneficiary of the DeFi sector growth as investment grows with the number of active protocols.
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