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JP Morgan: DeFi's total TVL remains below 2021 highs

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2025-08-07 13:07:27
The development of decentralized finance (DeFi) and asset tokenization is still not at the expected level, according to the latest research report from JPMorgan. The report shows that the total hedging value (TVL) of the DeFi ecosystem is still below the 2021 highs, and the main activity is still concentrated on cryptocurrency native users and retail investors. Head of Research Nikolaos Panigirtzoglou said that despite the growing interest and use cases in repo, bond and currency markets, asset tokenization has not yet scaled up. (Coindesk)
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