DeFi tokens have always played well as a hedge against other long/spot positions, but as we enter this new multi-chain phase (EVM DApp can be deployed across blockchains), this trend may soon be announced Finish. As I said before, I think the trend will be: new institutional capital enters the field of encryption, betting on the long-term success of DeFi + smart contracts, among the available options, the best recurring betting target is the alternative L1
The market value of the token is much smaller than that of ETH, and its current performance is better than that of Ethereum, but it is not so secure.
For hedging options, it is now better to look for weaker L1 + smaller communities that do not have that much capital to enter, rather than ETH-DeFi assets. As alternative L1 captures the market share of new cryptocurrency entrants, and
Gradually eroding ETH's market dominance, I think it will continue to be the best deal.
If you invest in ETH-DeFi tokens, I think it’s better to focus on newer protocols (which can provide value to users who didn’t exist before) + focus on current market trends. Now the popular trend of EVM is multi-chain/"bridge" projects
And decentralized derivatives, instead of blindly buying so-called DeFi "blue chips."