Layer-2 (L2) DeFi networks on the Ethereum blockchain have experienced a surge in activity over the past week, heralding a bullish rally in DeFi tokens. This surge coincides with Ethereum’s impending Dencun upgrade, which promises significant enhancements in network security, scalability, and functionality.
DeFi Tokens Rally Begins
Following Uniswap’s recent announcement, DeFi tokens have eclipsed AI tokens in the limelight, particularly those affiliated with Ethereum L2 scalability platforms. Notable DeFi tokens witnessing robust price and trading activity include UNI, COMP, COTI, SUSHI, and AAVE.
Mantle (MNT) has recently joined the bandwagon, registering a 20% gain in the past 24 hours. As of writing, Mantle is trading at $0.95 with a market capitalization exceeding $3 billion, while its 24-hour trading volume has soared by 200% to over $175 million.
As Mantle (MNT) continues its expansionary trajectory, it has attracted over $1.5 billion worth of Ethereum staked as mETH (Mantle Staked ETH). Consequently, plans are in place to reward mETH stakers with substantial airdrops.
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by Anurag Singh
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