Bitget General Manager Gracy Chen: The total market value of the DeFi sector rose to a peak of 51.2 billion USD, with this round of bullish market mainly led by Compound

ChainCatcher message, in July, the DeFi classic leading tokens experienced significant speculation. According to Coingecko data, the total market capitalization of DeFi sector projects rose from 46.3 billion USD at the end of June to a peak of 51.2 billion USD, an increase of 4.9 billion USD in market value;

Bitget General Manager Gracy Chen stated: "The first reason for this round of DeFi sector rotation is the hype around the RWA narrative, as US Treasury yields have surpassed the risk-free yield of DeFi. On June 29, Compound founder Robert Leshner announced his entry into the RWA track, establishing a new company Superstate and bringing US Treasury bonds on-chain, which led to a rise of over 100% in the related project COMP. Secondly, with XRP winning the lawsuit against the SEC regarding whether it is a security, the fundamentals of DeFi classic leading tokens have improved significantly. The third reason is the new proposal from MakerDAO, which suggests the introduction of a smart burn mechanism, while AAVE officially launched the decentralized stablecoin GHO, and Synthetix updated to version V3. These product updates and actions have sparked market enthusiasm."