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JPMorgan: The rise of the DeFi and asset tokenization market is still disappointing.
Odaily News Morgan Stanley analyst Nikolaos Panigirtzoglou stated in his latest research report that the growth rate of the DeFi and asset tokenization markets remains disappointing, pointing out that the recovery since the 2022 crypto winter has not been fast. Currently, the total Lock-up Position (TVL) in DeFi is still below the peak in 2021, and most activities are still driven by crypto-native users and retail investors, with institutional adoption lagging behind. In the asset tokenization market, the scale of tokenized assets has reached $25 billion, and the scale of tokenized bonds has reached $8 billion. The adoption rate of money market funds is also continuously increasing, but most projects are still small in scale, lack liquidity, or are in the experimental stage. (CoinDesk)