Diversified Access to DeFi

Indices

DeFi

27/02/2025

Index design and returns
Outperforming benchmarks
Individual catalysts drive returns

Introduction

The Kaiko DeFi Index (KSDEFI) consists of 11 different digital assets. The index includes projects from across the sector, covering decentralized exchanges, tokenization, lending and borrowing, and other key components of DeFi.

This index allows investors to track the sector’s growth over time. In this report, we analyze the index’s constituents, investment thesis, diversification benefits, and historical returns.

Although most protocols and projects in the index are built on Ethereum, its returns are not solely dependent on Ethereum’s performance.

Catalysts for growth

Any continued outperformance for the Kaiko DeFi index will be tied to individual catalysts for constituent assets. Projects that could drive returns in 2025 include UNI, AAVE, AERO, and ONDO. While these are some of the most likely to benefit from strong investment narratives in 2025, growth shouldn’t be limited to these four assets.

Learn more about these catalysts and explore the full report below.

Download the Report.

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Market Explorer

Price and transaction volume for centralized exchanges.

Market Depth

All bids and asks on an order book

Blockchain Monitoring

All users, all transactions, and all history for blockchain wallets.

Bitcoin

22/04/2025 Data Debrief
Bitcoin’s Halving Anniversary: This Time Was Different.
Bitcoin held its ground last week, rising by 2.4% while equities ended the week lower. Meanwhile, the U.S. SEC postponed its decision on in-kind redemptions and staking ETFs and released new disclosure guidance for crypto issuers.

Written by The Kaiko Research Team
ETF

14/04/2025 Data Debrief
XRP's Liquidity Race As Crypto ETFs Deadlines Loom.
Markets declined Friday after China announced 125% tariffs on U.S. goods starting April 12, following the U.S. president’s selective 90-day tariff pause that excluded China. Ripple acquired Hidden Road for $1.25 billion, while Binance continue deal talks with Trump’s crypto company.

Written by The Kaiko Research Team
Macro

07/04/2025 Data Debrief
Liberation Day Frees Investors From Election Gains.
The markets are still digesting last week’s sweeping tariff announcements. Meanwhile, USDC issuer Circle has taken a significant step towards a public listing by filing for an IPO on the NYSE. Additionally, First Digital Trust’s FDUSD briefly lost its peg due to insolvency concerns.

Written by The Kaiko Research Team
DEX

31/03/2025 Data Debrief
DeFi faces new test as low-liquidity token gets manipulated
Bitcoin fell alongside equities as hotter-than-expected U.S. inflation data and weak sentiment indicators fueled stagflation fears on Friday. Meanwhile, Crypto.com announced that it will support Trump Media’s upcoming ETF offerings, and GameStop experienced volatility after doubling down on Bitcoin.

Written by The Kaiko Research Team

Diversified Access to DeFi

Welcome to the index in focus!

Introduction

Catalysts for growth

Download the Report.

Explore kaiko data

Market Explorer

Market Depth

Blockchain Monitoring

More From Kaiko Research

Diversified Access to DeFi

Welcome to the index in focus!

Introduction

Catalysts for growth

Download the Report.

Explore kaiko data

Market Explorer

Market Depth

Blockchain Monitoring

Never Miss An Analysis

More From Kaiko Research