Rootstock executive: Bitcoin DeFi demand is concentrated in a small but well-funded group.

CoinFeed reported on June 17th, citing The Block, that Richard Green, Director of Institutional and Ecosystem Development at Rootstock Labs, stated that as DeFi liquidity continues to decline, Bitcoin DeFi projects are narrowing their focus to specific user groups. Total value locked in DeFi has decreased from approximately $180 billion last October to approximately $70 billion currently. Green stated that Rootstock is no longer pursuing broad coverage but is instead focusing on specific groups such as Bitcoin reserve companies, miners, and long-term holders, concentrating on Bitcoin lending and yield products. Green does not believe that the closure of Botanix signifies the disappearance of demand for Bitcoin DeFi; demand exists within a small but well-funded group, including miners seeking Bitcoin-backed loans and institutional investors exploring tokenized fund strategies.