AI Evaluation Notes

DeFi experienced a significant resurgence and growth during the bull run from late 2023 into 2024, with its Total Value Locked (TVL) soaring by 137% year-over-year in 2024. DeFi borrowing also saw a massive increase of 959% by 2024. However, centralized exchanges (CeFi) continued to dominate in terms of trading volume, accounting for 90% of the total crypto trading volume in 2024. While DeFi shone brightly with impressive growth, CeFi maintained a strong market presence, meaning DeFi did not fully 'outshine' it in all aspects of market performance or dominance within the predicted timeframe.