Linea’s Surge Marks Significant Milestone in its DeFi Journey
On Saturday, Linea’s value surged past the 20% mark, catapulting its market cap to over $418 million. This upward trajectory followed a period of low prices after an airdrop, drawing investor interest.
The excitement around Linea stems from its growing ecosystem metrics. Total value locked (TVL) in the network reached an all-time high of $1.94 billion, significantly boosted by popular decentralized apps like Aave. This suggests that more users are trusting Linea with their digital assets.
- Linea’s TVL climbed to $1.94 billion.
- DEX volume reached $1.97 billion this month.
- Stablecoin deposits hit a new record.
With such impressive growth,Linea aims to lead in layer-2 networks by TVL,surpassing rivals like Base and Arbitrum. However, reaching this goal requires sustained momentum and innovation.
Aave’s success plays a crucial role in Linea’s story.The platform’s $1.1 billion TVL and daily fees exceeding $90,000 demonstrate its strong presence. Other notable apps like Renzo and Etherex also contribute to the network’s vibrancy.
Linea shows promise in decentralized exchanges too. This month, the network processed transactions worth $1.97 billion, a ample leap from just $258 million in July. Stablecoin usage also rose by over 1.5%.
In terms of price, Linea’s climb could signal a shift to the markup phase inWyckoff Theory, indicating possible further gains.If so, it might reach the key resistance level at $0.050, nearly doubling its current price. Monitor crypto.news for updates.
