#DeFi Revenue Returns to High Levels#

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Hot Topic Overview

Overview

DeFi revenue returned to 2021 highs in 2023, driven largely by new entrants. Aave and MakerDAO were standout performers, with MakerDAO hitting an all-time high in December. Ethena's rapid rise also contributed to DeFi revenue growth. The return of DeFi in 2023 signals strong momentum for the space.

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Analysis

DeFi revenue rebounded to 2021 highs in 2023, driven largely by new entrants. Aave and MakerDAO performed strongly, with MakerDAO hitting an all-time high in December. The rapid rise of Ethena also contributed to the growth in DeFi revenue. This indicates that DeFi is experiencing a resurgence, with new entrants and innovative projects bringing fresh energy to the space. Despite the return of high DeFi revenue, market volatility and regulatory risks should be monitored closely. The future development of DeFi remains a key area of focus.

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Classic Views

DeFi revenue returned to 2021 highs in 2023.

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Aave and MakerDAO were the main contributors to DeFi revenue growth.

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New entrants drove DeFi revenue growth.

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DeFi is experiencing a comeback year.

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