Nov. 12 (Bloomberg) -- DeFi is growing rapidly but still not in the mainstream, according to a JPMorgan Chase report. Over the past year, DeFi on the Ethernet network has experienced explosive growth in US dollar terms, but mainly thanks to the 10-fold appreciation of ETH prices. After price adjustment, the increase in DeFi on the Ethernet network has not been significant. Ether's DeFi share has fallen to less than 70% from nearly 100% at the beginning of the year. Adjusted for share, JPMorgan estimates DeFi's annual increase in volume terms to be around 50%. As it stands, the DeFi space, while full of innovation, is still not being embraced by mainstream investors, and the main drivers of growth are still established crypto investors who use DeFi to gain leverage and liquidity, or to earn interest income on their crypto holdings. deFi is still in the early stages of development and has great growth potential. However, it still faces numerous hurdles before entering the mainstream, particularly regulatory hurdles.
