Messari: Horizontal analysis of key metrics of leading DeFi projects, no correlation between TVL and price
Although decentralized finance (DeFi) only flourished last year, fundamental investors are increasingly shifting from memes to on-chain data. However, while the data depicts the current state of the industry, it remains unclear which metrics are important for price movements and which are not. In this report, we will examine the data to determine whether fundamentals matter, and if they do, which DeFi tokens may lead the price recovery.
