Pantera Capital: The size of the Bitcoin on-chain DeFi market will reach $225 billion

The encrypted hedge fund Pantera Capital predicts in its latest investor newsletter that the Bitcoin on-chain DeFi market size will reach $225 billion. Pantera Capital's analysis states that Ethereum currently dominates the DeFi space and carries out most activities. Historically, decentralized applications on Ethereum account for 8% to 50% of Ethereum's market value, with this figure currently around 25%. If estimated based on this proportion, the potential DeFi market value of the Bitcoin network could reach approximately $225 billion.