Kaiko Research: UNI and other DeFi tokens may perform well in the second half of 2025

Kaiko Research's encryption data company analysts Adam McCarthy and Dessislava Aubert wrote in a report that DeFi tokens could perform well in the second half of 2025. The company's DeFi index (KSDEFI) has outperformed Ethereum (ETH) since its launch in October 2023, with a return rate of about 75% during this period. The index consists of 11 DeFi tokens, with UNI, AAVE, and ONDO having the highest weights. The report states that at least four tokens have strong tailwinds for the rest of this year. It said: "Due to several assets in the index benefiting from strong tailwinds, this excellent performance may continue into the second half of 2025. This trend highlights that as time goes on, the correlation between the DeFi Index and ETH decreases because decentralized finance continues to expand outside of Ethereum ecosystem."