Steno Research: "The Summer of DEFI" may come back, and TVL is expected to reach a historic high.

BlockBeats News, on August 23, according to CoinDesk, research firm Steno Research released a report saying that Decentralized Finance is making a comeback, and the Total Value Locked (TVL) of the Cryptocurrency ecosystem is expected to hit a record high in the first half of next year. The report states that the Intrerest Rate is the most critical factor influencing the attractiveness of Decentralized Finance, as the Decentralized Finance market is largely centered around the US dollar. When the Intrerest Rate drops, the opportunity cost of holding Stable Coin also drops, increasing the attractiveness of Decentralized Finance. The rise of the Stable Coin supply and the rapid development of physical assets such as coinized stocks, bonds, and commodities have also provided a boost to the recovery of the Decentralized Finance market. The decline in Money Laundering, the ETH network, has made Decentralized Finance more accessible. Steno analyst Mads Eberhardt said that the Intrerest Rate policy remains the most critical factor in the current recovery of Decentralized Finance, just as the Fed’s interest rate cuts were driven by the “Decentralized Finance Summer” in 2020. Although TVL is well below its peak in 2021, Steno expects it to hit a new high in the first half of next year. This suggests that the Decentralized Finance ecosystem is being reinvigorated and investors are regaining their bullishness on this track.