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DeFi Funds Trim Positions Despite Significant Growth in July

Several large and established assets in the DeFi space have seen significant growth in July, with Index Coop's DeFi Pulse Index (DPI) up 25% on the month. However, some crypto funds have been selling into the DeFi bounce rather than increasing their positions. Despite this, the rise in the DPI has outperformed major cryptocurrencies such as ETH and BTC, with traders speculating on tokenomic updates and new products from DeFi development teams. The number of new wallets and users is also increasing for many DeFi assets, but trading firms and venture capital funds appear to be selling, according to on-chain data.

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