In the midst of the 2024 bull market, there are record fund inflows into the crypto market, especially in Bitcoin (BTC) and Ethereum (ETH). This is leading to a recovery of the decentralized finance (DeFi) sector, with funds flowing into BTC staking protocols and ETH-based DeFi. Hyperliquid has become a major hub for value locked, following BTC and ETH. Fund inflows vary across different ecosystems, with the biggest outflow from TRON. BTC staking has expanded after the Cap-3 event by Babylon Labs, drawing in a significant amount of BTC. Hyperliquid is experiencing growth in its decentralized futures trading platform and has reached a new all-time high in open interest. As a result, the HYPE token has been on an expansion track. DeFi apps and liquid restaking protocols are also contributing to the overall growth and locked value in the market. The DeFi sector now has over $140 billion locked, with Aave being one of the top growth apps, holding over $22 billion in various assets.



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