Even though the decentralized finance (DeFi) sector has been in the news for a while now because of its impressive rise, interest may now be falling. According to Google trends data, global interest in the DeFi sector has been on a steady decline and has now lost 40%.
Back in March and at the beginning of April, interest in “DeFi” searches on Google increased quite rapidly as the sector began to gain a lot of popularity. For the next few months, this rapid increase began to dwindle even though there was still a lot of talk about the sector. By August and on to September, DeFi interest climbed again. The renewed interest directly mirrored growth in the sector as DeFi tokens rose incredibly.
However, DeFi interest has now dropped with a considerable decline in the number of searches on Google. The initial excitement seems to have waned with people no longer as curious about the sector as they used to be.
Notably, this decrease in DeFi interest has done little or nothing to impact the value of the individual assets, and also the total locked value. DeFiPulse shows that investors have locked almost $11 billion. This is not far from its current record high, which is a little higher than the figure.
Image Credits: Pixabay