Analysts at Genesis Global Trading drew attention to the growing interest of institutional investors in Ether (ETH) and tokens deployed based on the DeFi market.
Moreover, in a study published by experts, it is noted that financial institutions have become less likely to enter bitcoin products. Such structures are increasingly choosing to invest in either Ethereum funds or digital assets representing the decentralized finance ecosystem.
One of the authors of the report, Matt Ballensweig, emphasized that the Genesis team has seen an increase in investment in DeFi protocols over the past few months.
The expert also pointed to a decrease in the share of bitcoin in the market. The BTC dominance index at the end of 2020 fell below 70%, in the middle of this year it remains below 45%.
In parallel, an increase in the volume of transactions with UniSwap, Aave, and SushiSwap tokens was recorded.
Genesis Global Trading CEO Michael Moreau said: "The DeFi industry will continue to grow as we see greater adoption of digital assets and diversification of the space."