Still, interest rates are not the only driver behind a comeback in DeFi. There are also crypto-native factors at work. The growth in stablecoin supply, which has expanded by about $40 billion since January, is crucial because “stablecoins are the backbone of DeFi protocols,” Steno said.
Related posts
-
A New Era for Decentralized Gambling?
The cryptocurrency world is no stranger to dramatic trends, but the recent surge of interest in... -
Ethereum Price Stages a Comeback, But Lacks the Bullish Punch
Ethereum price started a recovery wave from the $2,400 zone. ETH is now struggling to gain... -
Solana Investors Are Making a Killing and ICP Joins For Gains
The world of cryptocurrency is no stranger to rapid changes and explosive growth. Recently, one of...