The contraction phase of the cryptocurrency market cycle appears to be coming to an end. Led by a recovery in Bitcoin, renewed optimism in the digital asset space is driving a resurgence in a variety of sub-sectors of the crypto industry.
In categories such as DeFi, GameFi, and more, innovation never stopped, possibly making these unique assets especially noteworthy when growth fully resumes. Across DeFi in particular, we’ve seen early signs of a potential repeat of the 2020 DeFi summer, arriving slightly later than expected. In this article, we’ll explore the various indications that the DeFi space is about to heat up once again.
What Is DeFi Summer?
DeFi summer is a term affectionately coined in mid-2020, as the Total Value Locked in DeFi applications began skyrocketing. Cryptocurrency holders flocked to DeFi for lending, borrowing, and liquidity provisioning, now possible through permissionless decentralized technology.
This trend began in June, resulting in several ultra-hot mo
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