jakiro
Jessy, Bitchain Vision Realm
In the past month, the DEFI track has ushered in a skyrocketing. Sushi has increased by nearly 30%in 24 hours, and the low point from November has risen four times in a month.UNI also achieved three times the increase in one month, and DYDX also increased by nearly three times.Hyperliquid issued on November 29th, Hyperliquid, has increased by 52%in the past week, and the market value has exceeded Arbitrum.
In the past period, the market value of the DEFI market has risen rapidly from US $ 70.5 billion to US $ 132.4 billion, and the average increase in tokens has reached 87%, a significant average increase in the overall market for the overall cryptocurrency.
The collective rise of the DEFI project has performed brightly in a crowded track. It is not a simple bull market rotation or a “general rise” factor. Behind people with changes in regulatory expectations.Go well, achieve continuous profitability and so on.
Increase
According to MESSARI data, in the past 30 days, UNI has increased by 85%, CRV has increased by 289%, DYDX has increased by 94%, COMP has increased by 125%, RSR has increased by 110%, ZRX has increased by 101%, 1inch is 1InchThe increase was 95%, the increase of ONDO was 104%, the SUSHI increased by 208%, the AAVE increased by 35%, the OM increase was 177%, and the TORN increased by 357%.
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Before market value14(Remove the stablecoinDAI)ofDefiToken increase
Cause
1. U.S. supervision is good
The collective rise of Defi, especially the collective rise of the old DEFI, seems to have fallen below people’s investment cognition of the currency circle of “new and new”, and the reason for its real rise is except for the large amount of funds brought by the bull market.In addition, it is more optimistic about the future of the DEFI track, and this optimism is the main source of the United States.
In recent years, regulatory agencies such as CFTC and SECs have continued to accuse and punish some companies that have not registered in the field of DEFI in accordance with regulations.For example, in September 2023, CFTC issued orders for Opyn, Inc., Zeroex, Inc. and Deridex, and Inc. issued an order to mention and solve allegations at the same time.Registration as a futures commissioner, and failed to implement customer recognition plans in accordance with the Bank Confidential Law.
At present, after the turning point turns, after Trump was elected as the next president of the United States, some analysts believe that because the trader expects that the Trump administration will strengthen the “practical” token “investment attraction””Regulatory optimism”, the market expects that the DEFI project and its tokens will face a more friendly environment.
The first is the “21st Century Financial Innovation and Technical Act” (FIT 21 Act) Act may be prioritized after Trump’s ones to promote this encryption bill known as the “most important so far”.Commodities or securities will also end the “tug” of SEC and CFTC in encryption supervision.The U.S. House of Representatives had previously passed the bill with an overwhelming majority ticket and submitted to the Senate, but the latter did not take a decisive action.However, as Trump comes to power, the market generally expects that the bill will speed up.
After the FIT 21 Act is passed, the compliance trading platforms and encrypted listed companies will appear more. The clear attribute standards will also make trading tokens richer, and provide new opportunities for spot ETFs and other encrypted financial products.
The FIT 21 Act will also promote the development of decentralized application innovation, especially the Defi track.The FIT 21 Act clarified that if the relevant tokens are judged as decentralized and functional, they are considered digital commodities without being regulated by SEC, and as long as the degree of centralization meets the requirements, it can obtain a certain exemption period, which will encourage moreThe DEFI project evolved in a more decentralized direction.The bill also requires SEC and CFTC to study the development of DEFI, evaluate its impact on traditional financial markets and potential regulatory strategies, and exemptional factors, which will attract more DEFI projects to “return”.
In addition to Trump’s commitment in the encryption market and the previously proposed “21st Century Financial Innovation and Technical Act” (FIT 21 Act), the recent TORNADO CASH incident also marks that the U.S. encrypted supervision is developing in a more open and friendly direction.At the end of November, the Fifth US Court Court ruled that the Ministry of Finance’s sanctions on TORNADO CASH were illegal and believed that these smart contracts did not meet the legal definition of “property”.This ruling provides important support for the legitimacy of the smart contract, so that developers and users no longer face the direct conflict of traditional legal frameworks when using these protocols, thereby promoting finance in a more tolerant, more friendly and free direction.Directly conducive to the vigorous development of DEFI.
2. The continuous optimistic of capital
With the continuous development and application of blockchain technology, people are full of confidence and expectations for the future development of DEFI.The market generally believes that DEFI will become an important change in the future financial field. This positive expectation has promoted investors’ purchase and holding of DEFI assets.
In particular, the continuous optimism of the big capital of the DEFI track, more and more investment institutions have begun to pay attention to and deploy the DEFI field.
For example, in 2024, the Comma 3 Ventures and Ottersec invested in SCALLOP on SUI. This is a borrowing agreement in the SUI ecosystem. At present, TVL has reached US $ 61.4 million, and it is the first DEFI project funded by the SUI Foundation.In the same year, A16Z invested $ 100 million in Eigenlayer.EIGENLAYER has attracted much attention due to the introduction of the re -pledge function. Its TVL jumped to more than $ 10 billion and ranked among the top three DEFI projects.Earlier this year, A16Z invested in Compound Labs of the lending agreement.
The continuous optimism and investment of DEFI’s capitals not only injected funds into the project development, but also enhanced market confidence and led retail investors’ chase of the track.
3. The combination of theDEFI track itself and traditional finance are getting closer and closer, and they are becoming more and more circled.
When talking about DEFI, the most circular application must be stable coins. Whether it is USDT, USDC, or other stablecoins, it is growing all the way.The rich stabilization currency system meets the basic financial needs such as user asset mortgage and point -to -point borrowing, and has also formed a initial formation of the DEFI ecosystem that is not allowed. This is the basis for accepting a large number of new users.
At the moment, the fusion of the three of Defi, CEFI, and Tradefi is getting closer and closer.
For example, some CEFI institutions have begun to cooperate with the DEFI project to use DEFI’s efficient trading mechanism and innovative financial products.Some traditional financial institutions will host some assets on their own centralized platforms, while using DEFI’s decentralized exchanges to execute some transactions.This can improve transaction efficiency and reduce transaction costs.For example, traditional banks can use smart contract interfaces to trade clients ‘encrypted assets on DEX such as UNISWAP. This can not only use banks’ reputation and security custody services, but also enjoy the decentralized transaction advantages of DEFI.
At the same time, many trading platforms also provide traditional trading services, and they have also begun to integrate the liquidity pool and transaction pairs of DEFI.For example, some platforms that support cryptocurrency futures transactions will use the stable currency in the DEFI project as a margin or settlement currency, so that users can conduct traditional futures transactions and DEFI -based asset transactions on one platform.
4. The fundamentals of theDEFI project itself have a good fundamental face and continuous profitability
We take UNISWAP as an example. Its governance token UNI has been considered useless, but by October 2024, everything has begun to change. Uniswap launched the second layer of the Ethereum network Unichain. The node operator of the chain needs to be onThe UNI tokens on the Ethereum network can become a verification person on Unichain.Participants who pledge UNI can get the corresponding income, including the division of transaction fees and possible block rewards, which inspire more users to participate in the maintenance and development of the Unichain network.A certain economic value and investment attraction.
In 2024, the DEFI protocols on the chain also ushered in a profitable year.For example, according to Kairos Research reports, in 2024, Maker Dao (Sky) is expected to generate a net agreement income of about $ 88.4 million.The valuation of MKR is 1.6 billion US dollars, only 18 times the net income.
The DEFI project itself is constantly innovating and iterative.We take Hyperliquid, a project that burst into fire in the past week as an example. This is a decentralized perpetual contract exchange. It also has the spot market and actively promotes Meme culture.The team also developed a high -frequency transaction optimization L1 public chain. Its goal is not only contract transactions, but to build a complete chain financial ecosystem, promote innovation in the DEFI field, and further expand to efficient decentralized options markets.EssenceIn terms of user use, one -click transactions authorized by wallets are required, which greatly simplifies the transaction process and reduces the threshold for user use.In terms of transaction products, it has rich trading functions and high leverage transactions. As a perpetual contract exchange, it provides high -level trading functions such as TWAP, scale orders and TP/SL orders. It also allows users to use up to 50 times lever for transactions.It meets the diverse needs of professional traders.Moreover, these transactions do not require GAS fees.In addition, the project conducted a large -scale token airdrop on November 29. Total 310 million Hype tokens distributed, accounting for 31%of its total amount of token.Wide attention and the participation of a large number of investors.
Summarize
In general, the continuous rise of the Defi project tokens is the product of the continuous improvement of market demand in the process of encryption gradually incorporated into traditional finance.And when we set their sights to the micro, we will see that the expectations of regulatory expectations, high returns and high -return DEFI products have increased their profitability, as well as the continuous enrichment of the product, the empowerment of tokens, and so on.
DEFI, as the most important innovation of the encryption industry, continues to look at it.
