Ethereum’s DeFi sector is experiencing a resurgence, fueled by renewed enthusiasm available in the market following Donald Trump’s election victory.
The overall worth locked (TVL) within the Ethereum DeFi ecosystem has surged previous $80 billion, marking its highest degree in over two years.
These numbers come as main firms equivalent to Aave and Uniswap additionally achieved necessary milestones throughout this bullish wave. Their elevated exercise highlights the rising attraction of DeFi options as traders and customers flock to platforms that supply progressive monetary instruments and alternatives.
recording quantity
Uniswap set a brand new document for month-to-month buying and selling quantity on the Ethereum Layer 2 community, reaching $38 billion in November, a 50% enhance from $20.32 billion in October.
Information from Dune Analytics revealed that Arbitrum contributed the majority of the $19.5 billion. This was adopted by Base with $9.19 billion and Polygon with $4.33 billion.
Uniswap Labs, the platform's improvement staff, mentioned in a November 27 social media put up:
“On-chain historical past is being made. We set a brand new all-time excessive for month-to-month L2 quantity for the Uniswap protocol.”
In the meantime, this achievement coincides with a big enhance within the worth of Uniswap's native UNI token. In response to currencyjournals information, the digital asset has risen 10% prior to now 24 hours, pushing its worth to $12.84.
Including to the joy, Uniswap introduced the most important bug bounty program in DeFi historical past at $15.5 million to safe its upcoming v4 protocol. The platform acknowledged:
“Greater than 500 researchers participated in a $2.35 million safety competitors and no essential vulnerabilities have been discovered. As we close to deployment, we’re utilizing our $15.5 million bug bounty to improve v4. We’re taking further steps to make it as protected as attainable.”
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, a rise of 230% for the reason that starting of the 12 months.
If Aave have been a U.S. financial institution, this quantity would place it within the high 1.4% of deposits, forward of outstanding monetary establishments equivalent to SoFi.
Stani Kulechov, founder and CEO of Aave, emphasised that this development is the start 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 rose 112% in 2024. crypto slate In response to the information, the token not too long ago reached a yearly excessive of $210 and has since settled at $200 on the time of writing.
