Recently, there is a massive surge of interest in DeFi, and you can see so many DeFi projects booming, like Aave and Compound. I was just wondering if this phenomenon will trigger a temporary downward movement in major market cap coins. For the past week, we are able to see that major cap coins are very stable within a set of price range, showing a lack of public interest in them. My belief is that the capital will move from top coins to DeFi tokens.
Since DeFi is now the trend in the crypto space, and lots of people are speculating for the plunge in Bitcoin and other top cap coins, do you guys believe we are going to see a downward movement in the coins?
During the most recent hype we have seen bitcoin losing dominance over the market while ethereum won some points in that front which in my opinion makes sense, investors are always looking to make money and as such they left bitcoin and went for DeFi coins while they bought some ethereum as they needed it for the fees, however I do not see a massive movement out of those coins, many people in the forum are bitcoin holders and they do not care about any other coin and you are never going to convince them to sell and it seems institutional investors so far are only interested in bitcoin as well which makes it very unlikely the scenario you propose is going to happen.