The merge has come and gone, and it's left the crypto community struggling to come up with a new narrative. Where do we go from here? What's next for DeFi rates? On Ethereum L1, probably not much. I think we'll continue to see low levels of stablecoin activity and a gradual deterioration in liquidity that will consolidate the position of leading protocols and squeeze out smaller and undifferentiated players. We've entered the depressive phase of the market cycle - protocols will die off with a whimper now, not a bang.
Weekly Interest Rate Roundup: Sep 20 - Sep 27
Weekly Interest Rate Roundup: Sep 20 - Sep 27
Weekly Interest Rate Roundup: Sep 20 - Sep 27
The merge has come and gone, and it's left the crypto community struggling to come up with a new narrative. Where do we go from here? What's next for DeFi rates? On Ethereum L1, probably not much. I think we'll continue to see low levels of stablecoin activity and a gradual deterioration in liquidity that will consolidate the position of leading protocols and squeeze out smaller and undifferentiated players. We've entered the depressive phase of the market cycle - protocols will die off with a whimper now, not a bang.