The decentralized finance (DeFi) market is experiencing a revival, with key metrics such as active loans and total value locked (TVL) on the rise from their most recent lows in 2023.
This recovery is driven by altcoins such as RACA, which has a strong ecosystem and is connected to the main advances in the market, such as the union between artificial intelligence and cryptocurrencies,
In light of this growth, cryptocurrency market analysis platform Token Terminal proclaimed that “DeFi is waking up again.” The portal highlights that DeFi’s total locked value also took a big hit in 2023, with TVL dropping 80% from its peak of $180 billion in November 2021 to around $37 billion in October 2023.
However,the sector has since recovered by around 160%, with TVL now at around US$96.5 billion, according to DefiLlama.
Additionally, DeFi TVL doubled in the first half of 2024, from around $54 billion to peak at $109 billion in June.
The founder of Humble Farmer Academy, Taiki Maeda, commented that the sector is approaching a period of “DeFi renaissance” and, given this resumption, the RACA ecosystem is ready with several new features, such as the Tesla Cybertruck airdrops, among others that will help to further boost the entire sector. Stay tuned.
Supported by DWF Labs, OKX Blockdream Ventures, and the Tachyon accelerator by Consensys Mesh, RACA serves as a web 3.0 infrastructure solution provider. Initially launched as a bidding token with the Maye Musk NFT, RACA has evolved into a robust web3.0 gaming ecosystem!
RACA, the USM native token, serves as a Crypto ‘dApp Store’ of AI Apps and Games, initiated by the ‘Elon Musk’s Mother & Koda NFT’ community
