The crypto industry may soon experience another surge in interest in decentralized finance (DeFi) that could last for "months and months," stated Charles d’Haussy, CEO of dYdX Foundation, in an interview with Cointelegraph at the Consensus 2025 conference in Hong Kong.
In his view, the term "DeFi Summer" is outdated since it implies a short-lived hype. Instead, d’Haussy calls the upcoming cycle a "DeFi Festival," one that won’t be limited to just a few months of growth but could endure for a long time.
Reasons for Growing Interest in DeFi
According to d’Haussy, one key growth driver will be the influx of new users who prefer tried-and-tested DeFi platforms. Unlike previous cycles, when users actively experimented with new projects, they are now more likely to turn to brands with solid reputations.
"All the projects that appeared to have been absorbed by competitors haven’t actually disappeared. These are already well-known, trusted brands, and they will only grow stronger," he noted.
Another important factor is institutional investment. d’Haussy believes that major players have already begun building the infrastructure for DeFi. He cited Lido Finance — one of the largest liquid staking protocols — as an example. In August, Lido Institutional its Lido Institutional solution for large clients, such as custodians and asset managers.
How Centralized Exchanges Will Support DeFi
Centralized exchanges (CEXs) could also influence the DeFi market. According to d’Haussy, many CEXs are launching their own blockchains and wallets or restricting certain services — like lending and futures trading — to comply with licensing requirements.
These changes may encourage users to migrate to DeFi, as exchanges are themselves beginning to "build bridges" between centralized and decentralized finance, making the transition more convenient.
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