Is There a Derivatives Market on Top of Bitcoin?

I don't view crypto as an asset class, I view it as an asset race. Bitcoin is like you say, in bold with a 50 mile head start. The network effect is much stronger than the amount of resources devoted to the mining energy that's put into Bitcoin. You'll never hear Ethereum mention in a mainstream publication without Bitcoin also being mentioned. It's acting as a monetary base on its own system. That's how money gets its values, reservation demand. If you look at the most nascent part of this DeFi revolution - and we're not even there yet - they are already falling over. They just get their value from monies competing against each other.