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Forecast Trend Report by Period
Decentralized finance may be entering a new growth phase as Uniswap usage surges on Robinhood’s proprietary blockchain. If the US regulatory environment improves and financial firms adopt blockchain technology more broadly, DeFi usage could grow to more than 10 times its current level.
Matt Hougan, chief investment officer at Bitwise, said on the Paul Barron <a href="https://xpertsstudio.com/washington-state-seeks-1-03m-fine-ban-for-crypto-kiosk-firm/” title=”Washington State Seeks $1.03M Fine, Ban for Crypto Kiosk Firm”>Crypto Show that “DeFi Summer 2.0” would begin once the market recognizes the sector’s growth potential. He said usage could increase tenfold. Uniswap’s active addresses have already risen to 1.2 million.
Robinhood Chain has driven that increase. The network is an Ethereum layer-2 blockchain built by Robinhood Crypto. Uniswap joined as a key automated market maker on Robinhood Chain when the mainnet launched in July. Through Uniswap, users can trade digital assets, tokenized stocks and real-world assets, or provide liquidity.
Hougan said DeFi had survived multiple bear markets and, in the process, strengthened its technology and ecosystem. Evidence from Robinhood Chain shows usage can grow quickly when a proper regulatory framework is in place and institutional investors enter the market. He estimated Uniswap’s annualized fee revenue at $120 million to $130 million and said it could reach $200 million based on the latest trading volumes.
Hougan also said Robinhood’s rivals may move faster to introduce their own blockchains or on-chain trading services. He said competitors were likely watching Robinhood create a multibillion-dollar business opportunity in just a few months. If Robinhood Chain’s user base continues to expand and other financial firms enter the market, growth at DeFi protocols including Uniswap could accelerate further.
Source: en.bloomingbit.io