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Cryptocurrency markets had a tiny rebound pursuing past week’s dip, arsenic capitalist enactment coiled down during the holidays.
Bitcoin (BTC) fell to a play debased of $86,561 connected Tuesday, earlier bouncing backmost supra $88,600 connected Friday, according to TradingView data.
Spot Bitcoin exchange-traded funds (ETFs) request remained weak, signaling $175 cardinal successful outflows connected Wednesday, which marked a 5th consecutive time of nett outflows, according to Farside Investors.
In the wider cryptocurrency space, members of the Aave assemblage criticized their decentralized lending and borrowing protocol implicit what they described arsenic a premature propulsion to beforehand a governance connection connected marque plus ownership.
The proposal, which sought to instrumentality power of the protocol’s marque assets and intelligence spot to a DAO-controlled entity, was rejected connected Friday, with a bulk voting against it.
BTC/USD, year-to-date chart. Source: Cointelegraph/TradingViewAave governance ballot ends successful rejection aft assemblage pushback
Aave token holders voted against a arguable governance connection seeking to spot power of the protocol's marque assets nether DAO ownership.
On Friday, the snapshot canvass closed with 55.29% voting “NAY” and 41.21% abstaining. Only 3.5% of voters supported the proposal.
The connection asked whether Aave (AAVE) token holders should regain power implicit Aave’s domains, societal handles, naming rights and different intelligence spot done an entity nether a decentralized autonomous enactment (DAO). Supporters framed the determination arsenic a measurement toward decentralization and clarifying questions astir marque stewardship.
The rejection closed a tense governance occurrence for Aave, 1 of decentralized finance's (DeFi) biggest lending protocols. It highlighted however timing, escalation and information tin signifier governance outcomes successful a DAO.
Results of the Aave governance vote. Source: SnapshotDEX adoption, HIP-3 substance $200 HYPE lawsuit arsenic rivals endanger Hyperliquid’s dominance
Decentralized perpetuals speech Hyperliquid has been among crypto’s breakout projects successful 2025, but rivals’ lucrative rewards systems are vying to lure investors away.
Cantor Fitzgerald forecasts Hyperliquid’s HYPE (HYPE) token to surge to $200 by 2035. Hyunsu Jung, CEO of HYPE treasury institution Hyperion DeFi argues that the surge volition beryllium fueled by the Hyperliquid Improvement Proposal 3 (HIP-3).
"We spot HIP-3 arsenic the large operator of Hyperliquid’s adjacent signifier of growth, and arsenic a cardinal enabler of the valuation model projected by Cantor," Jung told Cointelegraph.
Perpetual swaps are futures derivative contracts that way the terms of an underlying plus but person nary expiration date. Contracts support their terms adjacent to the spot assets by a backing mechanism, which transfers payments betwixt agelong and abbreviated presumption holders.
The marketplace stock of perpetual futures DEXs roseate from 2.1% successful January 2023 to a caller all-time precocious of 11.7% successful November 2025, according to a study by information aggregator CoinGecko.
DEX to CEX perps measurement ratio. Source: CoinGecko.comCZ proposes hole to code poisoning aft capitalist loses $50 million
Binance co-founder Changpeng Zhao projected further information measures to “eradicate” code poisoning, including wallet warnings and blacklists of suspicious accounts.
"All wallets should simply cheque if a receiving code is simply a 'poison address,' and artifact the user. This is simply a blockchain query," Zhao wrote successful a Wednesday blog post.
Address poisoning is simply a signifier of phishing successful which scammers instrumentality victims into sending crypto to illicit wallets by archetypal sending them tiny transactions. Unsuspecting users often transcript and paste the attacker’s code from their wallet history.
Phishing scams cost 6,344 victims implicit $7.7 cardinal successful November, according to Scam Sniffer data. That fig is expected to surge successful December mostly owed to $50 cardinal successful USDT (USDT) lost by a azygous unfortunate connected Friday.
"Lastly, wallets should not adjacent show these spam transactions anywhere. If the worth of the [transaction] is small, conscionable filter it out," Zhao added.
$50M code poisoning transaction, wallet 0xcB8. Source: Etherscan.ioEthena’s USDe mislaid $8.3 cardinal since October clang amid “loss of confidence”
Ethena’s synthetic dollar USDe has shed astir $8.3 cardinal successful nett outflows since the major liquidation lawsuit connected Oct. 10, arsenic assurance successful leveraged and synthetic collateral structures continues to weaken.
According to a report from 10x Research, the October sell-off marked a turning constituent for the crypto market, flipping the bull signifier into a play of deleveraging. The clang erased an estimated $1.3 trillion successful crypto marketplace value, astir 30% of full capitalization astatine the time.
Ethena USDe (USDE), which relies connected synthetic collateral and hedging mechanisms alternatively than accepted fiat reserves, faced a “sharp nonaccomplishment of confidence” nether these conditions, the analysts wrote.
According to information from CoinMarketCap, USDe’s marketplace headdress stood astatine astir $14.7 cardinal connected Oct. 9. In conscionable implicit 2 months, that worth has dropped to astir $6.4 billion.
USDe’s marketplace headdress declines. Source: CoinMarketCap.Uniswap interest power to spell unrecorded arsenic assemblage ballot acceptable to pass
The highly anticipated Uniswap protocol interest switch, dubbed “UNIfication,” passed and was to spell unrecorded aboriginal this week, having reached the 40 cardinal ballot threshold needed to trigger 1 of the biggest upgrades successful the decentralized speech protocol’s seven-year history.
Uniswap Labs CEO Hayden Adams said connected Thursday that a palmy ballot would travel a two-day timelock play successful which Uniswap v2 and v3 interest switches would flip connected the Unichain mainnet, triggering the burning of much Uniswap (UNI) tokens.
The connection volition spot 100 cardinal UNI tokens burned from the Uniswap Foundation’s treasury, portion a Protocol Fee Discount Auctions strategy to summation liquidity supplier returns would besides beryllium implemented.
The changes are expected to importantly amended the supply-demand dynamics of the UNI token and marque it a much appealing token to clasp implicit the agelong term.
Change successful UNI’s terms implicit the past week. Source: CoinGeckoNews of the UNIfication connection successful aboriginal November spurred a adjacent 40% rally successful the UNI token, taking it from astir $7 to $9.70 connected Nov. 11.
Uniswap is the largest decentralized speech and has processed much than $4 trillion successful trading measurement since launching successful November 2018. CoinGecko data shows that UNI is the 39th largest token by marketplace cap, astatine $3.8 billion.
DeFi marketplace overview
According to information from Cointelegraph Markets Pro and TradingView, astir of the 100 largest cryptocurrencies by marketplace capitalization ended the week successful the green.
The Pippin (PIPPIN) memecoin roseate implicit 41% arsenic the week’s biggest gainer, followed by the Canton (CC) token, up implicit 25% connected the play chart.
Total worth locked successful DeFi. Source: DefiLlamaThanks for speechmaking our summary of this week’s astir impactful DeFi developments. Join america adjacent Friday for much stories, insights and acquisition regarding this dynamically advancing space.
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