The cryptocurrency market bounced back on Thursday after witnessing a bearish trend a day earlier, with the market capitalisation gaining 4.9 percent to reach $2.71 trillion as of 1305 hours GMT. Bitcoin, the largest cryptocurrency, gained 3.68 percent to reach $61,119. With this increase in price, the market capitalisation of the biggest cryptocurrency has reached 1.15 trillion. Likewise, ether (ETH) price gained 4.22 percent to reach $4,168. With this increase in price, the market capitalisation of ETH has reached $489.2 billion. Similarly, XRP price gained 3.53 percent to reach $1.06. The market capitalisation of XRP stands at $106 billion after this increase. Likewise, cardano (ADA) price inched up by 0.80 percent to reach $2.01. Its market capitalisation has reached $65.1 billion with this increase. On the other hand, dogecoin (Doge) price took a giant leap with 29.06 percent gain to reach $0.308. With this increase in price, the market capitalisation of doge has reached $40.5 billion. Meanwhile, Bitcoin.com’s chief executive has said that decentralised finance (DeFi) could be the most effective way to increase economic freedom, which in turn would accelerate the pace of innovation and improve the lives of billions of people. Roger Ver addressing the Fantom Developer Conference said, “A decentralised and permission-less everything is the most effective way to help economic freedom. In places with more economic freedom, people have a higher standard of living and are happier.” DeFi – a system by which financial products become available on a public decentralised blockchain network – is open for anyone to use, rather than going through middlemen like banks or brokerages, and does not require proof of identity. Adopting this can lead to a more inclusive economy, including promoting the ease of doing business, free trade with other nations, regulation of the labour force and stability of currencies. Evangelists of DeFi argue that it is a safer way of maintaining assets and conducting transactions, and it has been seen as a scenario of a world without banks. The DeFi market owns only 5 per cent of the cryptocurrency space, but is growing. There was $93 billion worth of DeFi assets as of June 2021 while it was up 66 percent at $154.9 billion as of Tuesday last.