The DeFi Revolution Hiding in Plain Sight

The article argues that DeFi is undergoing a revolution in global finance that receives less attention than its numbers warrant. It cites total value locked of about $160 billion, 70% of the late 2021 high of $229 billion and over triple the late 2022 low of $51 billion. It also says Ethereum layer 2 TVL reached a record $45 billion after the March Dencun upgrade cut gas fees by 90%, and that stablecoin market cap recovered to $168 billion. The author expects growth from dollar stablecoins, tokenized real-world assets, restaking and layer 2 expansion.