DeFi booms as daily active wallets hit 7M, VanEck bullish on Ethereum L2s: Finance Redefined

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.

The surge in DeFi in recent months saw decentralized application (DApp) activity increase by 77% in the fourth quarter of 2023, with a total daily active user wallet count of seven million.

The European Commission is evaluating the DeFi industry and could require protocols to obtain a license in the near future.

According to analysts from investment manager VanEck, Ethereum layer-2 scaling networks could hit a $1 trillion market capitalization in the next six years.

The top 100 DeFi tokens had a bearish week, with most tokens trading in red on the weekly charts, while the total value locked in DeFi protocols remained below $100 billion.

Average daily active unique wallets reach seven million — DappRadar

The latest report from DappRadar highlights several bullish indicators in the DApp and Web3 sectors for the first quarter of 2024.

DApps saw a quarter-over-quarter usage increase of 77%, with a total daily active user wallet count of seven million. This shows an increase of approximately 40% since February 2024, indicating the highest adoption rates since 2022.

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Upcoming DeFi rules in Europe could ban non-decentralized protocols

Decentralized finance protocols in Europe could soon fall under new regulations as the European Commission evaluates the space.

According to the Markets in Crypto-Assets Regulation (MiCA) — the regulatory framework that will govern digital assets within the region — the European Commission is required to prepare a report by Dec. 30 evaluating the decentralized finance market and the feasibility of specific regulations for the sector.

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Ethereum layer 2s to hit $1 trillion market cap by 2030 — VanEck

Ethereum’s layer-2 scaling networks will hit a $1 trillion market capitalization in the next six years. According to analysts from investment manager VanEck, they will comprise…

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