I will argue that many DEFI projects, that are still around, have matured over the last year or two. Their token prices may have gone to crap, but honestly, the tokens aren’t what makes the platform. I use AAVE on Polygon for many uses, including my wrapped BTC holdings that I use to borrow against. The platform itself is actually really awesome to use. The yields aren’t super sexy, but that’s not the point of it either. It just works, and works well, and that’s what I ask for.

That’s aside, I agree that not all ships are going to rise with the BTC tide this time. I haven’t seen anything very ground breaking this time around. My bets are very few and consolidated this time around. This is why I am powering down a good bit of my Hive and going into BTC. With the ETFs it’s the main driver of this cycle. We keep going down in marketcap and I can’t watch my value pump and dump this time without me being able to flip it.