Since September 2022, the DeFi dominance index has shown a downward trend, with occasional minor recoveries. Entering 2024, the memecoin sector demonstrated better performance than the market, while the launch of Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) attracted more interest from institutional investors. Under these circumstances, the prospects for most DeFi tokens became unclear, leading to a decrease of 29% in DeFi dominance so far this year, reflecting a general lack of interest among market participants in DeFi token performances.