[Analysis] "Cryptocurrency is Taking Over Traditional Finance... DeFi's Growth Potential is Huge"
Summary
- Cryptocurrency is rapidly catching up with the traditional financial market, and some analyses suggest it has already surpassed it in certain areas.
- Decentralized exchanges (DEX) account for 5% of the total market revenue, outperforming the Hong Kong Stock Exchange and CBOE.
- Next year, the DeFi sector is likely to grow 4 to 5 times, and protocols surpassing Ethereum (ETH), Solana (SOL), and Bitcoin (BTC) are expected to emerge.
Cryptocurrency is rapidly catching up with the traditional financial market, and some analyses suggest it has already surpassed it in certain areas.
On the 17th, Jamie Coutts, a Real Vision analyst, stated on X (formerly Twitter), "Cryptocurrency is taking over the traditional finance's share. It's truly remarkable."
The analyst noted, "Coinbase accounts for 11% of the global exchange revenue, ranking 5th worldwide," adding, "Centralized exchanges (CEX) and decentralized exchanges (DEX) are growing 2.5 to 4 times faster than the traditional financial market."
He further explained, "Especially, DEX accounts for 5% of the total market revenue, outperforming the Hong Kong Stock Exchange and CBOE," adding, "DEX has now become one of the most profitable applications in the world."
There are also forecasts that the DeFi (decentralized finance) sector will grow even more next year. Coutts predicted, "The DeFi sector is likely to grow 4 to 5 times next year," and "some protocols surpassing Ethereum (ETH), Solana (SOL), and Bitcoin (BTC) will emerge."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
