DeFi bull market confounds expectations with RWAs and ‘recursive airdrops’

Industry figures assess the state of decentralized finance in 2024 and whether it is developing as expected.

It may only be April, but it has already been a fairly eventful year for crypto. 

In January, the United Securities and Exchange Commission (SEC) begrudgingly approved spot Bitcoin (BTC) exchange-traded funds (ETFs), while the fourth Bitcoin halving event has dominated the news more recently.

In non-Bitcoin news, Ethereum launched its Dencun upgrade in March, improving its integration with layer-2 blockchains.

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