Ethereum’s DeFi sector is experiencing a revival, fueled by renewed market enthusiasm following Donald Trump’s election victory.
The whole worth locked (TVL) in Ethereum’s DeFi ecosystem has surged previous $80 billion, marking its highest stage in over two years.
These numbers come as key gamers like Aave and Uniswap have additionally achieved vital milestones throughout this bullish wave. Their rising exercise highlights the rising attraction of DeFi options as traders and customers flock to platforms that provide revolutionary monetary instruments and alternatives.
File 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.
Data 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 put up, Uniswap Labs, the event group behind the platform, stated:
“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 big rise within the worth of Uniswap’s native UNI token. In response to CryptoSlate’s information, the digital asset was up 10% over the past 24 hours, pushing its worth to $12.84.
Including to the thrill, Uniswap introduced a $15.5 million bug bounty program, the most important in DeFi’s historical past, to safe its upcoming v4 protocol. The platform said:
“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 potential with the $15.5 million bug bounty.”
Aave hits new highs
Aave, the most important DeFi lending platform, has additionally reached a historic milestone.
In response to DeFiLlama, deposits on the platform have surged to $33 billion, representing a 230% improve for the reason that 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 also be mirrored within the efficiency of its native token, AAVE, which has climbed 112% in 2024. In response to CryptoSlate’s information, the token not too long ago hit a yearly excessive of $210 earlier than settling at $200 as of press time.