Ethereum (ETH) recently broke the important psychological limit of $ 2,500 and now even acts above $ 2,600. This price rise seems to breathe new life into the Defi market.
At the same time, leading protocols such as Aave and Uniswap reach impressive new milestones. This raises the question: is the decentralized financial sector at the start of the next growth phase?
Whales move capital towards Aave
The recent course breakthrough of Ethereum above $ 2,500 has clearly attracted the attention of large investors. For example, a wallet that is linked to WLFI carried out a striking transaction: 50 Wrapped Bitcoin (WBTC) was deposited in Aave V3, with which 400 million USDC was subsequently borrowed. With that amount, the investor bought 1,590 WYH, at an average price of $ 2,515. In total, this wallet now manages $ 15.11 million in crypto-assets, including 3,924 WETH worth $ 9.91 million and 50 WBTC worth $ 5.19 million.
This increase in Whale activity coincides with new records for large Defi protocols. For example, Aave founder Stani Kulechov announced on 11 May that the platform reached a record high of $ 25 billion in Total Value Locked (TVL). According to Defillama, Aave now represents more than 21% of the total value that has been fixed in Defi, and leaves it behind large competitors such as Lido (LDO) and Eigenlayer (own).
Uniswap passes $ 3 trillion in trade volume
Uniswap, the largest decentralized Exchange (Dex), also achieved a historical achievement. On May 12, the platform announced that the total cumulative trade volume has risen above $ 3 trillion. Data from Defillama shows that on 14 May Uniswap processed more than $ 3.6 billion in transactions-accounting for no less than 24% of the worldwide DEX volume on that day.
What does this mean for the Defi market?
The combined growth of Aave and Uniswap points to renewed power in the Defi sector. The strong influx of capital, the increased risk of large investors and the breaking of new records suggest that Defi may be on the eve of a new advance.
As long as Ethereum continues to act above the important support zones and trust among institutional parties increases, the foundation seems to be laid for a new chapter in the Defi cycle. Whether this revival continues to a fully -fledged bull market depends on the continuing momentum and the behavior of major players. But for now it is clear: Defi is back on the radar.
Source: https://newsbit.nl/ethereum-defi-markt-veert-op-aave-en-uniswap-breken-records/
