It seems like in 2020 and 2021 DeFi was going to take over the world. But then it was quickly slammed with rub pulls, bad actors, messed up systems, flaws and hacks. This really put defi on the back burner as a solution that most likely wasn't going to be possible until these issues where fix. No one wants to dump their money into a platform that has a risk of being hacked and losing it all.
Now while regulation in the USA is still up in the air it seems like they will be positive. However the still inaction by the government seems to be triggering a move towards defi more. Not only as a means to invest but a way to grow capital in these markets when other rewards such as staking rewards just don't seem to cut it anymore.