After massive selloff, financials for Ethereum (DeFi) still strong

Despite the selloff on Monday, defi appears in a good place on a macro scale due to its relative attractiveness compared to banking alternatives.

After massive selloff, financials for Ethereum (DeFi) still strong

It's been a bloodbath for DeFi tokens the past few days, with recently launched Yearn.finance (YFI) down 35% in the past week and nearly 50% from its highs just a few weeks ago. Despite this substantial correction, macro-scale DeFi appears to be in a good place due to its relatively high yields and attractive borrowing rates compared to banking alternatives. We may see more customers enter the market as retail consumers start to run out of less risky credit options.

CryptoSlate (Sept 22, 2020)