DeFi Bull Market on the Horizon: Report Predicts Record-Breaking TVL

IconCryptoNewsTerminal Staff23 Aug, 2024

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DeFi Bull Market on the Horizon: Report Predicts Record-Breaking TVL

DeFi enthusiasts, prepare for an exciting time ahead! According to a recent report by Steno Research, the DeFi market is poised for a bull run in the first half of next year, promising to reach its largest total value locked (TVL) ever. Despite the current dip in TVL compared to 2021's peak, the report anticipates a positive shift driven by the expected US interest rate cuts. These cuts are likely to benefit the DeFi market, which operates predominantly in US dollars. The report also highlights the steady growth in the issuance of dollar-based stablecoins since January, another indicator of the bullish trend in the DeFi market. With these factors aligning, experts predict a record-breaking TVL for DeFi in the near future. Stay tuned for further updates as the DeFi market gears up for this exciting phase.

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