3️⃣Market Trend
The growth and outlook of the De-Fi
According to data released by the De-Fi analysis site DefiLlama, the total amount of funds deposited in De-Fi projects worldwide has reached $90 billion (approximately 120 trillion won), marking a 45.1% increase compared to a month ago ($62 billion) and an 80% increase compared to a year ago ($50 billion). This is the first time in two years since the Terra-Luna incident that the total amount deposited in De-Fi has exceeded $90 billion. This increase is analyzed as a result of the cryptocurrency market being revitalized with the integration of cryptocurrencies into the institutional framework, such as the approval of Bitcoin ETFs.
A recent report from the investment platform Exponential indicates that the Total Value Locked (TVL) in yield generating De-Fi protocols has steadily increased from $26.5 billion in Q3 2023 to $59.7 billion in Q1 2024. This growth is seen as a sign of renewed trust and liquidity returning to the De-Fi market.
Additionally, according to Statista, a provider of business data, the projected revenue for the De-Fi market is estimated to reach $2.617 billion by 2024. With an expected growth rate (CAGR from 2024 to 2028) of 9.07%, it is forecasted to reach a total of $3.704 billion by 2028. This analysis indicates the growth and innovative changes in the De-Fi market, suggesting that the market is maturing towards greater rationality, efficiency, and enhanced risk awareness.
Due to the borderless nature of blockchain, De-Fi is expected to open new market opportunities for businesses, facilitating globalization. By leveraging the automation features of smart contracts, it is anticipated that De-Fi will reduce management overhead and enhance operational efficiency, leading to innovations in business processes such as supply chain management and contract execution.
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