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

Market analysts predict layer-2 blockchains are set to capitalize on Ethereum’s primary challenge to process, store and compute data, which might propel it to a $1 trillion market cap by 2030.The surge in DeFi in recent months saw decentralized application activity increase by 77% in the fourth quarter of 2023, with a total daily active user wallet count of seven million.

According to analysts from investment manager VanEck, Ethereum layer-2 scaling networks could hit a $1 trillion market capitalization in the next six years. 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.Decentralized finance protocols in Europe could soon fall under new regulations as the European Commission evaluates the space.

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