Ethereum DeFi TVL hits 2-year excessive as exercise on platforms like Uniswap, Aave soars

Ethereum’s DeFi sector is experiencing a revival, fueled by renewed market enthusiasm following Donald Trump’s election victory.

The full 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 enchantment of DeFi options as buyers and customers flock to platforms that provide revolutionary monetary instruments and alternatives.

File quantity

Uniswap has set a brand new document for month-to-month buying and selling quantity on Ethereum layer-2 networks, reaching $38 billion in November — a 50% leap 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 at $4.33 billion.

In a Nov. 27 social media submit, Uniswap Labs, the event group 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 big rise within the worth of Uniswap’s native UNI token. In keeping with starcrypto’s knowledge, the digital asset was up 10% during the last 24 hours, pushing its worth to $12.84.

Including to the thrill, Uniswap introduced a $15.5 million bug bounty program, the biggest in DeFi’s historical past, to safe its upcoming v4 protocol. The platform mentioned:

“Over 500 researchers [had] participated in a $2.35 million safety competitors, and no vital vulnerabilities had been discovered. As deployment approaches, we’re taking an additional step to make sure v4 is as safe as attainable with the $15.5 million bug bounty.”

Aave hits new highs

Aave, the biggest DeFi lending platform, has additionally reached a historic milestone.

In keeping with DeFiLlama, deposits on the platform have surged to $33 billion, representing a 230% enhance because the begin of the yr.

If Aave had been a US financial institution, this determine locations Aave among the many high 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. In keeping with starcrypto’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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