2024 年第一季度 DeFi 市场飙升，流动性质押推动激增

2024 年第一季度，DeFi 市场经历了令人印象深刻的飙升，锁定总价值（TVL）几乎翻了一番。这一激增是由以太坊流动质押的进步推动的，自今年年初以来增长了 81％，标志着该行业的潜在转折点。尽管最近出现市场调整，但第一季度的强劲表现为 DeFi 的未来描绘了一幅光明的图景，流动性质押协议在其增长中发挥了关键作用。

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

2024 年第一季度去中心化金融市场蓬勃发展，流动性质押激增

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.

纽约，2024 年 4 月 25 日——根据 DeFi 跟踪平台 DefiLlama 的数据，去中心化金融 (DeFi) 市场在 2024 年第一季度经历了显着增长，其锁定总价值 (TVL) 几乎翻了一番。这种上升在一定程度上是由于以太坊流动性质押的进步所推动的，尽管最近市场出现了调整，但还是给人们带来了人们对 DeFi 持续扩张的希望。

Total Value Locked Reaches New Heights

锁定总价值达到新高

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 的数据显示 TVL 显着增加，从 2023 年第四季度的 360 亿美元上升到 2024 年第一季度的近 970 亿美元。这意味着令人印象深刻的 81% 的增长，到上周末达到 980 亿美元的两年高点。

Liquid Staking Drives Growth

流动质押推动增长

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%."

另一家加密数据提供商 Messari 强调了流动性质押计划在这一激增中的关键作用。他们的报告显示，DeFi 抵押品季度环比增长 65.6%，达到 1010 亿美元。这一上涨主要是由“资产价格升值和流动性质押推动的，其中以太坊的 TVL 增长近 71%。”

Staking's Growing Importance

质押日益重要

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 基础设施提供商 QuickNode 和机构加密数据平台 Artemis 的联合报告进一步强调了质押和流动性质押协议对 DeFi 近期增长的影响。他们的研究结果表明，质押现在占 DeFi 总锁定价值的很大一部分，巩固了其在生态系统中的重要性。

Liquid Staking's Skyrocketing TVL

Liquid Stake 的 TVL 飙升

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.

流动质押已成为主要推动力，其 TVL 在 3 月份飙升至 630 亿美元的历史新高。 Lido 是著名的以太坊流动性质押协议，目前在该领域占据主导地位 62% 的市场份额。

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 等其他厂商的 TVL 在第一季度显着增长了 990%，最终达到 120 亿美元。 EigenLayer 的独特功能允许用户多次质押他们的 ETH，从而产生额外的收益。

User Activity Soars

用户活跃度飙升

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 的报告进一步激发了人们对未来的乐观情绪，强调用户活动与上一季度相比大幅增长了 291%。这一激增点燃了“第二个 DeFi 夏天”的希望，表明尽管美国证券交易委员会 (SEC) 提出了监管障碍，但仍有大幅增长的潜力。

Recent Market Correction

近期市场调整

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广泛的加密货币市场的调整。截至撰写本文时，DeFi TVL 下降了 11%，目前为 866 亿美元。虽然这代表了轻微的回调，但第一季度的表现表明 DeFi 领域的积极趋势，流动性质押创新是关键催化剂。

Risks and Future Outlook

风险和未来展望

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

尽管 DeFi 市场显示出良好的增长迹象，但潜在的风险和挑战仍然存在。

• 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.

无常损失：如果标的资产的价格与他们收到的流动性质押代币的价值相比大幅波动，用户可能会面临无常损失。 监管不确定性：SEC 对质押的立场仍不清楚，可能给 DeFi 和流动性质押协议带来未来挑战尽管存在这些风险，但 DeFi TVL 的大幅飙升（尤其是在流动性质押的进步推动下）表明，该行业已日趋成熟，其创新解决方案正在吸引新用户。尽管最近出现了市场调整，但这种增长为 DeFi 的长期可持续性和甚至超越之前高点的潜力描绘了一幅充满希望的图景。