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Determining the extent to which DeFi, NFTs appeal to Ethereum, Binance whales
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Over the past few weeks, the commotion surrounding DeFi and NFTs has dropped in volume as the price action of major crypto assets is taking center stage. In the background, activity is still prominent but one key observation is the fact that many speculators club the narrative of DeFi, NFTs as one. While DeFi or various dApps have some sort of functionality, NFTs are just valued collectibles.
With Ethereum and Binance Smart chain leading the DeFi and NFT market, we analyzed market data to understand if investors are equally invested in DeFi and NFTs or does one holds precedence over the other.
Breaking down data from the Q3 2021, it was observed that despite massive interest in NFTs and blockchain gaming, the DeFi space registered over
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