TL;DR
- EigenLayer Drives Liquid Restaking: EigenLayer is leading the liquid restaking trend, generating $600 million and attracting interest in DeFi.
- Pendle and Advanced Restaking: Pendle allows for restaking of already staked crypto, offering compounding return opportunities.
- Multi-Chain Commitment and Layer 2 Competition: Increase in multi-chain commitment and intense competition between Ethereum’s Layer 2 anticipates a promising 2024 in DeFi.
The future of the cryptocurrency market looks exciting by 2024, with four emerging trends in the space of decentralized finance (DeFi) that promise to set the tone for this next bull cycle.
According to a report by DLNews, these trends are supported by important regulatory, institutional and financial announcements that emerged throughout 2023, creating a favorable scenario for a 2024 full of opportunities.
One of the notable trends is the concept of liquid restaking, with the EigenLayer protocol taking center stage.
This innovative approach allows users to stake their tokens liquidly, generating more yield and receiving additional tokens called Liquid Restaking Tokens (LRT).
EigenLayer has already managed to establish a $600 million market, evidencing the growing interest in this novel approach to DeFi.
In the evolution of this concept, the practice of staking crypto already in staking arises.
Protocols like Pendle even accept LRT deposits that already generate returns, offering additional compounding return opportunities.
Report notes significant increase in multi-chain engagement by DeFi users
This phenomenon is expected to be driven by those looking to take advantage of yield and airdrop opportunities on different blockchains.
The security of cross-chain bridges is highlighted as a major concern, and a growing preference for more secure solutions in cross-chain crypto transactions is expected.
With three Ethereum Layer 2 blockchains, such as Arbitrum, Optimism and Base, highlighted in the report, intense competition is expected between them.
The focus will be on reducing transaction costs and improving user experience.
This growth in competition may also impact the value of the native tokens of these networks.
In the big picture, the report foresees an even bigger boom in crypto infrastructure by 2024.
Technologies such as zero-knowledge systems and data availability solutions, such as Celestia, are highlighted as key drivers of this growth.
New participants such as Monad and Berachain will join this expansion, leading to greater specialization of blockchains.
In summary, the year 2024 looks exciting for the world of cryptocurrencies, with innovative trends in DeFi that promise to define the next bull market.
Diversification in staking strategies, multi-chain engagement, and blockchain specialization signal a period full of opportunities for crypto ecosystem enthusiasts and participants.
