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JPMorgan: Security Vulnerabilities and Growth Stagnation Weaken DeFi Institutional Appeal

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ME News, April 23 (UTC+8), JPMorgan stated that persistent security vulnerabilities and stagnant TVL growth are significantly weakening the appeal of decentralized finance (DeFi) to institutional investors. The KelpDAO event led to the evaporation of approximately $20 billion in TVL within days, exposing systemic risks in cross-chain bridges and collateral mechanisms. Attackers minted unbacked rsETH and used it in lending protocols, ultimately causing about $200 million in bad debt and triggering a chain reaction across the DeFi ecosystem. Amid the impact of risk events, funds are accelerating into stablecoins. Analysts say that, similar to traditional markets shifting to cash as a safe haven, crypto users tend to hold more liquid assets like USDT during uncertain times. Additionally, although DeFi's total value locked (TVL) has recovered in dollar terms, it remains flat when measured in ETH, reflecting a lack of real growth momentum. JPMorgan believes that security issues and structural vulnerabilities remain the core obstacles to DeFi scaling and institutional adoption. (Source: ODAILY)
ETH0.48%
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