Stellar's DeFi ecosystem reached a record $61 million TVL on November 24, more than 150% above its mid-November peak, driven by surging XLM prices and growth across DEXs like Aquarius, LumenSwap, and Soroswap, plus the lending protocol Blend.
Stellar's total value locked in decentralized applications hit a record $61 million on November 24, representing a 150% increase from the previous record of $24 million established in mid-November. The growth has been fueled by five DEX applications, a primary lending protocol, and a decentralized stablecoin project. XLM, Stellar's native token, surged over 400% since early November to exceed $0.5, reaching its highest level since May 2021. Aquarius emerged as the fastest-growing DEX with 240% TVL growth in a week to $8.4 million, while LumenSwap maintained its position as the largest DEX at $23 million TVL with daily trading volume reaching a record $27 million. Blend, Stellar's only lending dapp, achieved $12.8 million TVL after a 300% surge in less than a month, with XLM comprising 94% of deposits. The ecosystem's outperformance has been attributed partly to market optimism surrounding SEC leadership changes and their potential impact on Ripple-related regulatory matters.