In June, DeFi tokens outperformed Bitcoin, suggesting a potential market reevaluation of the sector, according to a report by Bitwise. Analysts noted that Bitcoin fell approximately 22% over the month, while the index of major DeFi protocols dropped only 4%.
The firm attributed DeFi's resilience to increased institutional adoption of the protocols. However, the total value locked in DeFi has decreased nearly 40% since the beginning of the year, from around $115 billion in January to just over $70 billion by June.