DeFi
Decentralised finance and stablecoins: protocols, governance and on-chain money.
Lighter's LIT rose 10%, and Hyperliquid holds more LIT bets than Lighter itself
LIT climbed to $3.47 while Lighter's fees held near $260,000 a day on DefiLlama. Rival Hyperliquid carries $61.4 million of open LIT bets, against $39.1 million on Lighter's own market.
A Monad shark put $3.6 million into earnAUSD, a fifth of the yield token's market value
The busiest shark on Monad bought $16 million of tokens in a day, mostly dollar tokens. Its biggest one-way bet was a yield version of AUSD that CoinGecko values at $17.7 million.
Coinbase's cbBTC gained 2,921 bitcoin in 30 days. Lombard's LBTC lost 39% of its supply
Bitcoin is leaving most wrapped tokens on other chains, CoinGecko supply data shows. Coinbase's version was the exception, until it gave back 891 BTC in a day.
One Monad shark made 267 of 268 trades in a day. Its 30-day loss grew to $1.35 million
One wallet made almost every shark trade DeepSea tracked on Monad, cycling $7.1 million through two dollar tokens. Its losses keep growing.
A shark bought $2.46 million of staked ether on Monad. DeepSea sees $116 of liquidity
The largest single shark buy of the last day came in three trades on ether's down day. The token's pools on Monad that DeepSea tracks hold only $116, so the buy did not run through them.
A $216 million bitcoin whale shows a $291,600 weekly loss, but its moves look like loans
DeepSea counts an 82% win rate and a 7-day loss for an Ethereum wallet holding only cbBTC. Its trade list reads like a borrower moving collateral in and out of a lending market.
An Avalanche shark swapped $1.45 million of Aave USDC deposits for Benqi's in two trades
DeepSea logged the switch as both the second-largest net shark buy and the second-largest net shark sell of the day across all chains. The wallet's closed trades in the last 30 days: five, all winners.
The shark that took $10 million out of Aave on Arbitrum put $8.32 million back
A day after one wallet drove an $8.35 million net outflow from Aave's USDC pool, it bought back almost all of it. The 7-day net is now just minus $27,800.
Lido lost $1.8 billion in value in a day. Did anyone actually leave?
DefiLlama shows DeFi's biggest protocols shrank 4% to 8% in 24 hours. Compared with CoinGecko prices, most of that looks like falling prices, not withdrawals.
Curve's trading volume nearly quadrupled to $831 million as crypto sold off
DefiLlama shows the stablecoin swap venue went from $215 million to $831 million in a day, while total DEX volume rose less than 3% and several big DEXs slowed. Its fees jumped about eightfold.
One shark sold $80.5 million of Aave-deposited USDT in an hour. Its 7-day loss: $1.87 million
The Ethereum wallet ending 4312 moved more than $280 million in a day, mostly in and out of Aave. DeepSea's PnL table shows it with the biggest 7-day realized loss it tracks.
Two sharks ran $51.7 million through Aave's USDC pool on Arbitrum. Net $8.35 million out
DeepSea's 24-hour feed shows $30 million of Aave's USDC receipt token sold and $21.65 million bought. One wallet did most of the round trip.
DeFi lenders supplied $12.7 billion in a week. Morpho Blue had 84% of liquidations
DeepSea's lending data for October 26 to November 1 shows deposits far ahead of withdrawals, borrowing almost exactly matched by repayments, and $12.69 million liquidated, most of it on Morpho Blue.
Whales cut $28.9 million of LBTC in a week. Smart money bought just $127,900
Lombard's bitcoin token on Ethereum was the most sold token in DeepSea's weekly data, by a wide margin. Whales also cut $6.47 million of ARB, with DeepSea flagging moves to cold storage.
Compound's fourth retreat in a month: a vote to pull 90 ETH and 42,000 USDC off Unichain
A Compound DAO vote closing November 3, with no votes against so far, would send reserves from its deprecated Unichain markets back to Ethereum. A bigger 534,530 USDT withdrawal from Polygon was filed and canceled within an hour.
Aave V3.8 vote: 381,439 AAVE for, zero against, a new lock on 15 networks
Aave Labs wants a reentrancy guard on every active Aave V3 market, built so flash loans and liquidations still work. AAVE holders backed it with zero AAVE against in a Snapshot vote that closed October 31; audits come before the final onchain step.
Uniswap opens the tool behind its UNI burns to any app. Robinhood takes USDC instead
TJAR, the system that turns Uniswap's protocol fees into UNI and burns it, is now open to everyone. It handled more than $15.3 million in a month, and its first outside user wants stablecoins, not UNI.
NYSE owner ICE wants Hyperliquid perps in America. What stands in the way?
Intercontinental Exchange plans to run Hyperliquid-based perpetual futures markets for US retail traders with Trade[XYZ], and is taking a minority stake. HYPE jumped almost 20% on the day, but nothing goes live until US regulators approve it.
Ethena Pay adds Earn+, a leveraged USDe strategy on Aave V4, without publishing a rate
Two months after launching a money app on Avalanche, Ethena added Earn+, which supplies USDe and borrows USDT through a vault on Aave V4. There is no stated rate, and deposits are capped at $20,000 to $200,000 by tier.
RLUSD's big week: a federal trust bank on Monday, an A2 Moody's rating on Tuesday
Ripple's $2.5 billion stablecoin won final OCC approval for a national trust bank to hold its reserves, then got an investment-grade A2 rating from Moody's a day later. It still trails PayPal's PYUSD.
Aave weighs a 60 million cap for USAT on Avalanche, where its supply is zero
Aave Labs wants USAT, the Anchorage-issued dollar stablecoin built with Tether's technology, on Aave V4's Avalanche hub. Risk firm LlamaRisk backs it as borrow-only at a fixed $1, but flags an uncapped mint key and a bridge that is not live yet.
Circle earned $1.4 billion and kept about 7 cents per dollar. Where did the rest go?
Circle says 59% of its first-half 2026 revenue went to the exchanges and apps that distribute USDC. A September filing shows how one of those deals, with Binance, works.
Native bitcoin as Aave collateral? Babylon's plan starts with a 300 BTC cap
Babylon Labs wants Aave V4 to accept bitcoin that never leaves the Bitcoin chain, with no wrapper or custodian. Aave Labs says the integration works and LlamaRisk has set a 300 BTC starting cap, but a Snapshot vote is still to come.
Aave lets an outsider set the risk: Sentora opens the first curated V4 markets
Sentora, not Aave's usual risk providers, now picks the collateral and rules for three Ethereum lending markets on Aave V4. Users can borrow RLUSD, OUSD and PYUSD, and the DAO keeps half the revenue under Sentora's proposal.
Moody's rates DeFi's Sky B3: just $90 million of capital behind $10 billion of assets
The former MakerDAO, issuer of the USDS and DAI stablecoins, got a speculative-grade B3 rating from Moody's with a stable outlook. Its track record and low losses won praise. Its thin capital did not.
Ethena's fee switch got zero votes against. So why have ENA buybacks not started?
ENA holders approved revenue-funded buybacks without a single vote against, but buybacks only start once USDe supply reaches $7.5 billion. On November 2 it was about $4.5 billion.
Visa, Mastercard, Stripe, Coinbase and Shopify launch OUSD, and hand partners the interest
Open Standard's dollar stablecoin went live on September 30 with more than $1 billion in launch liquidity and over 200 partner companies. Partners, not the issuer, keep most of the reserve income. Circle is not on the list.
Borrow dollars against Nvidia stock, even on a Sunday: Aave's first month, $5.2M lent
Aave V4 on Base now takes seven Coinbase tokenized tech stocks as collateral for USDC loans. A month in, $11.5 million of stock is deposited, ten tiny liquidations have hit, and there is no bad debt. US users are shut out.