[Steno Research: Lower Ethereum Fees and Other Key Factors May Revitalize DeFi Summer] A report from Steno Research pointed out that lowering Ethereum network fees is crucial to making its ecosystem more accessible. The decentralized finance (DeFi) summer of Ethereum and the cryptocurrency market may return as early as 2025, and the total locked value (TVL) in the protocol may hit a record high at the beginning of the year. The report also believes that changes in US interest rates will play a key role in determining the recovery of DeFi. Since emerging markets are mainly denominated in US dollars, a series of interest rate cuts may increase investors' risk appetite, leading them to invest in more risky assets, including digital assets. Mads Eberhardt, senior cryptocurrency analyst at Steno Research, pointed out: Interest rates are the most critical factor affecting the attractiveness of DeFi because it determines whether investors are more inclined to look for higher-risk opportunities in the decentralized financial market.

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