I agree with you to a large extend. Defi will deflate a lot when the bull run is over. Although I've heard of people taking crypto loans to buy houses and being

I agree with you to a large extend. Defi will deflate a lot when the bull run is over. Although I've heard of people taking crypto loans to buy houses and being vert happy with the experience so there might be some actual utility in it already. Overall unless I see real world usage of the networks and people buying stuff with the tokens, using dapps to build portfolios etc I firmly believe that we are in the very early stages of crypto.