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 surpassed $80 billion, marking its highest stage in over two years.
These numbers come as key gamers like Aave and Uniswap additionally hit main milestones throughout this bullish wave. Their rising exercise highlights the rising attraction of DeFi options as traders and customers flock to platforms providing revolutionary monetary instruments and alternatives.
Recording quantity
Uniswap set a brand new document for month-to-month transaction quantity on Ethereum Layer 2 networks, reaching $38 billion in November, a 50% soar from October's $20.32 billion.
Knowledge 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 with $4.33 billion.
In a November 27 social media submit, Uniswap Labs, the event crew behind the platform, stated:
“The story of Onchain is being written. New all-time excessive for month-to-month L2 quantity on the Uniswap protocol.
In the meantime, this achievement coincides with a big rise within the worth of Uniswap’s native UNI token. Based on knowledge from forexcryptozone, the digital asset rose 10% over the previous 24 hours, pushing its worth to $12.84.
Including to the joy, Uniswap introduced a $15.5 million bug bounty program, the most important in DeFi historical past, to safe its upcoming v4 protocol. The platform stated:
“Greater than 500 researchers participated in a $2.35 million safety competitors, and no crucial vulnerabilities had been discovered. Because the rollout approaches, we're taking an additional step to make sure v4 is as safe as potential with the $15.5 million bug bounty.
Aave reaches new heights
Aave, the most important DeFi lending platform, additionally reached a historic milestone.
Based on DeFiLlama, deposits on the platform jumped to $33 billion, a rise of 230% because the begin of the yr.
If Aave had been a US financial institution, this determine would place it among the many prime 1.4% in deposits, surpassing notable establishments like SoFi.
Stani Kulechov, founder and CEO of Aave, highlighted this progress as the beginning of a monetary revolution pushed by decentralized platforms.
In the meantime, the platform's development can also be mirrored within the efficiency of its native token, AAVE, which soared 112% in 2024. Based on forexcryptozone Based on the info, the token just lately hit a yearly excessive of $210 earlier than settling at $200 at press time.
