Ethereum DeFi TVL tops $80 billion as Uniswap, Aave drive record activity
Ethereum DeFi TVL tops $80 billion as Uniswap, Aave drive record activity
Ethereum’s decentralized finance (DeFi) ecosystem has hit a significant milestone, with the total value locked (TVL) surpassing $80 billion, the highest in over two years. Renewed market enthusiasm, spurred in part by Donald Trump’s pro-crypto policy stance, has invigorated key platforms like Uniswap and Aave, which are setting new records for trading volume and deposits.
Uniswap, one of the most popular decentralized exchanges, reported a record $38 billion in trading volume on Ethereum layer-2 networks in November, a 50% jump from October’s $20.32 billion. Arbitrum accounted for $19.5 billion of this volume, followed by Base with $9.19 billion and Polygon at $4.33 billion.
Adding to the momentum, Uniswap’s UNI token rose 10% in 24 hours to reach $12.84, while the platform announced a $15.5 million bug bounty program—the largest in DeFi history—to secure its upcoming v4 protocol. This initiative underscores Uniswap’s commitment to maintaining robust security as it scales its operations.
Aave achieves historic growth
Aave, the largest DeFi lending platform, has also seen impressive growth, with deposits surging to $33 billion, marking a 230% increase since the beginning of 2024. If Aave were a U.S. bank, its deposits would rank it among the top 1.4% of financial institutions, surpassing names like SoFi.
Aave’s native token, AAVE, has mirrored this growth, climbing 112% in 2024 and recently hitting a yearly high of $210. Stani Kulechov, Aave’s founder, described the platform’s success as a clear sign of the financial revolution driven by decentralized platforms.
The surging TVL in Ethereum’s DeFi sector signals the increasing appeal of decentralized solutions in a fast-evolving financial landscape. With platforms like Uniswap and Aave leading the charge, DeFi continues to attract investors seeking innovative tools and opportunities, positioning itself as a cornerstone of the crypto ecosystem.
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