Ethereum’s DeFi sector is experiencing a revival, fueled by renewed market enthusiasm following Donald Trump’s election victory.
The overall worth locked (TVL) in Ethereum’s DeFi ecosystem has surged previous $80 billion, marking its highest degree in over two years.
These numbers come as key gamers like Aave and Uniswap have additionally achieved important milestones throughout this bullish wave. Their rising exercise highlights the rising attraction of DeFi options as buyers and customers flock to platforms that provide modern monetary instruments and alternatives.
Document quantity
Uniswap has set a brand new report for month-to-month buying and selling quantity on Ethereum layer-2 networks, reaching $38 billion in November — a 50% bounce from October’s $20.32 billion.
Information from Dune Analytics reveals that Arbitrum contributed the lion’s share with $19.5 billion. It’s adopted by Base with $9.19 billion and Polygon at $4.33 billion.
In a Nov. 27 social media publish, Uniswap Labs, the event crew behind the platform, said:
“Onchain historical past is being made. New all-time excessive for month-to-month L2 quantity on the Uniswap Protocol.”
In the meantime, this achievement coincides with a major rise within the worth of Uniswap’s native UNI token. Based on CryptoSlate’s knowledge, the digital asset was up 10% over the past 24 hours, pushing its worth to $12.84.
Including to the joy, Uniswap introduced a $15.5 million bug bounty program, the biggest in DeFi’s historical past, to safe its upcoming v4 protocol. The platform stated:
“Over 500 researchers [had] participated in a $2.35 million safety competitors, and no important vulnerabilities had been discovered. As deployment approaches, we’re taking an additional step to make sure v4 is as safe as doable with the $15.5 million bug bounty.”
Aave hits new highs
Aave, the biggest DeFi lending platform, has additionally reached a historic milestone.
Based on DeFiLlama, deposits on the platform have surged to $33 billion, representing a 230% improve because the begin of the 12 months.
If Aave had been a US financial institution, this determine locations Aave among the many prime 1.4% in deposits, surpassing notable establishments like SoFi.
Stani Kulechov, Aave’s founder and CEO, highlighted this progress as the beginning of a monetary revolution pushed by decentralized platforms.
In the meantime, the platform’s progress can be mirrored within the efficiency of its native token, AAVE, which has climbed 112% in 2024. Based on CryptoSlate’s knowledge, the token not too long ago hit a yearly excessive of $210 earlier than settling at $200 as of press time.
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