2024 年第一季 DeFi 市場飆升，流動性質押推動激增

2024 年第一季度，DeFi 市場經歷了令人印象深刻的飆升，鎖定總價值（TVL）幾乎翻了一番。這一激增是由以太坊流動質押的進步推動的，自今年年初以來增長了 81％，標誌著該行業的潛在轉折點。儘管最近出現市場調整，但第一季的強勁表現為 DeFi 的未來描繪了一幅光明的圖景，流動性質押協議在其成長中發揮了關鍵作用。

Decentralized Finance Market Flourishes in Q1 2024, Surge in Liquid Staking

2024 年第一季去中心化金融市場蓬勃發展，流動性押激增

New York, April 25, 2024 - The decentralized finance (DeFi) market experienced a remarkable surge in the first quarter of 2024, with its total value locked (TVL) nearly doubling, according to data from DeFi tracking platform DefiLlama. This uptick, driven in part by advancements in Ethereum liquid staking, has raised hopes for continued DeFi expansion despite a recent market correction.

紐約，2024 年4 月25 日—根據DeFi 追蹤平台DefiLlama 的數據，去中心化金融(DeFi) 市場在2024 年第一季度經歷了顯著增長，其鎖定總價值(TVL) 幾乎翻了一番。這種上昇在一定程度上是由於以太坊流動性質押的進步所推動的，儘管最近市場出現了調整，但還是給人們帶來了人們對 DeFi 持續擴張的希望。

Total Value Locked Reaches New Heights

鎖定總價值達到新高

DefiLlama's data reveals a significant increase in TVL, rising from $36 billion in Q4 2023 to nearly $97 billion in Q1 2024. This represents an impressive 81% increase, reaching a two-year high of $98 billion by the end of last week.

DefiLlama 的數據顯示TVL 顯著增加，從2023 年第四季的360 億美元上升到2024 年第一季的近970 億美元。億美元的兩年高點。

Liquid Staking Drives Growth

流動質押推動成長

Messari, another crypto data provider, highlights the crucial role of liquid staking initiatives in this surge. Their report indicates a 65.6% quarter-on-quarter increase in DeFi collateral, reaching $101 billion. This uptick is primarily fueled by "asset price appreciation and liquid staking, led by Ethereum's TVL growth of nearly 71%."

另一家加密資料提供商 Messari 強調了流動性質押計劃在這一激增中的關鍵作用。他們的報告顯示，DeFi 抵押品季度較上季成長 65.6%，達到 1,010 億美元。這一上漲主要是由“資產價格升值和流動性質押推動的，其中以太坊的 TVL 增長近 71%。”

Staking's Growing Importance

質押日益重要

A joint report from Web3 infrastructure provider QuickNode and institutional crypto data platform Artemis further emphasizes the impact of staking and liquid staking protocols on DeFi's recent growth. Their findings suggest that staking now represents a substantial portion of DeFi's TVL, solidifying its importance in the ecosystem.

Web3 基礎設施供應商 QuickNode 和機構加密資料平台 Artemis 的聯合報告進一步強調了質押和流動性質押協議對 DeFi 近期成長的影響。他們的研究結果表明，質押現在佔 DeFi 總鎖定價值的很大一部分，鞏固了其在生態系統中的重要性。

Liquid Staking's Skyrocketing TVL

Liquid Stake 的 TVL 飆升

Liquid staking has emerged as a major driver, with its TVL skyrocketing to an all-time high of $63 billion in March. Lido, a prominent Ethereum liquid staking protocol, currently holds a dominant 62% market share within this sector.

流動質押已成為主要推動力，其 TVL 在 3 月飆升至 630 億美元的歷史新高。 Lido 是著名的以太坊流動性質押協議，目前在該領域佔據主導地位 62% 的市場份額。

Other Notable Performers

其他著名表演者

Other players like EigenLayer witnessed a remarkable 990% surge in TVL during Q1, ending the period at $12 billion. EigenLayer's unique feature allows users to stake their ETH multiple times, generating additional yields.

EigenLayer 等其他廠商的 TVL 在第一季大幅成長了 990%，最終達到 120 億美元。 EigenLayer 的獨特功能允許用戶多次質押他們的 ETH，從而產生額外的收益。

User Activity Soars

用戶活躍度飆升

QuickNode's report further fuels optimism for the future, highlighting a substantial 291% increase in user activity compared to the previous quarter. This surge has ignited hopes of a "second DeFi Summer," indicating potential for substantial growth despite regulatory hurdles posed by the Securities and Exchange Commission (SEC).

QuickNode 的報告進一步激發了人們對未來的樂觀情緒，並強調用戶活動與上一季相比大幅成長了 291%。這一激增點燃了「第二個 DeFi 夏天」的希望，表明儘管美國證券交易委員會 (SEC) 提出了監管障礙，但仍有大幅增長的潛力。

Recent Market Correction

近期市場調整

However, it's important to note a recent correction in the broader crypto market. As of writing, DeFi TVL has dipped by 11%, currently sitting at $86.6 billion. While this represents a slight pullback, the first quarter's performance signifies a positive trend within the DeFi space, with liquid staking innovations acting as a key catalyst.

然而，值得注意的是最近更廣泛的加密貨幣市場的調整。截至撰寫本文時，DeFi TVL 下降了 11%，目前為 866 億美元。雖然這代表了輕微的回調，但第一季的表現顯示 DeFi 領域的積極趨勢，流動性質押創新是關鍵催化劑。

Risks and Future Outlook

風險與未來展望

While the DeFi market shows promising signs of growth, potential risks and challenges remain.

儘管 DeFi 市場顯示出良好的成長跡象，但潛在的風險和挑戰仍然存在。

• Impermanent Loss: Users might face impermanent loss if the price of the underlying asset fluctuates significantly compared to the value of the liquid staking token they receive.
• Regulatory Uncertainties: The SEC's stance on staking remains unclear, potentially posing future challenges for DeFi and liquid staking protocols.

Despite these risks, the massive surge in DeFi TVL, particularly fueled by advancements in liquid staking, suggests a maturing industry with innovative solutions attracting new users. This growth, despite a recent market correction, paints a promising picture for DeFi's long-term sustainability and potential to even surpass its previous highs.

無常損失：如果標的資產的價格與他們收到的流動性質押代幣的價值相比大幅波動，用戶可能會面臨無常損失。流動性質押協議帶來未來挑戰儘管存在這些風險，但 DeFi TVL 的大幅飆升（尤其是在流動性質押的進步推動下）表明，該行業已日趨成熟，其創新解決方案正在吸引新用戶。儘管最近出現了市場調整，但這種成長為 DeFi 的長期可持續性和甚至超越先前高點的潛力描繪了一幅充滿希望的圖景。