The post Binance Research’s Team Issues Report on Breakthrough DeFi Markets appeared on BitcoinEthereumNews.com.

Binance Research, the analytical arm of the world’s leading cryptocurrency exchange, plays a crucial role in dissecting the trends and potential futures of blockchain and decentralized finance (DeFi). Their recent report, “Breakthrough DeFi Markets,” delves deeply into the current state and evolving dynamics of the DeFi landscape, showcasing the rapid growth and innovative platforms sculpting the sector’s future. DeFi TVL up 75% in 2024 DeFi TVL has increased by 75.1% in 2024 DeFi has witnessed a significant influx of capital in 2024, leading to a 75.1% increase in total value locked (TVL), which now stands at $94.9 billion. This growth benefits nearly every sector within DeFi, from stablecoins to on-chain derivatives. The yield markets have seen extraordinary expansion, growing 148.6% to reach a TVL of $9.1 billion. Pendle, known for its on-chain interest rate derivatives, showcases this surge with a staggering 1962% increase in TVL, which now stands at $4.8 billion. Stablecoin market cap continues to rise Stablecoins are among the DeFi use cases that have achieved meaningful product-market fit, proving to be effective financial tools in both DeFi and CeFi. The stablecoin market cap has surged to US$161.1B, its highest in two years, driven by the current high-interest rate environment that has made the stablecoin business highly attractive. The stablecoin market is dominated by centralized entities like Tether’s USDT and Circle’s USDC, which account for 90% of the market share. This dominance creates high barriers to entry for new players and illustrates that the stablecoin sector is far from perfectly competitive. While interest generated by stablecoins like Tether doesn’t benefit the holders, the demand for decentralized and yield-bearing stablecoins is increasing, driven by the availability of higher risk-free rates. The solutions backed by RWAs and CDPs have faced challenges like capital inefficiencies and scalability issues. with its USDe steps in to…

---

Filed under: News - @ May 23, 2024 3:22 pm