Linea Soars as Network Metrics Skyrocket
On Saturday, Linea’s price soared over 20%, pushing its market cap beyond $418 million.Investors seized the chance following its post-airdrop dip.
This surge coincides with a remarkable boost in ecosystem metrics. The total value locked (TVL) reached an unprecedented $1.94 billion, largely propelled by dApps like aave. Linea is on track to become a major player in DeFi, thanks to growing stablecoin inflows and DEX volume.
The Consensys-backed layer-2 network might be entering the markup phase of the Wyckoff theory, hinting at further gains. Linea leaped to $0.027, marking a 30% increase from its recent low.
- TVL exceeded $1.94 billion.
- DEX volume hit $1.97 billion monthly.
- Stablecoin presence on Linea is now at a record high.
aave plays a crucial role in this growth, boasting a TVL surpassing $1.1 billion and daily fees of over $90,000.Other prominent dApps include Renzo, Etherex, and Euler.
To claim the title of the leading Layer-2 by TVL,Linea must surpass Base and Arbitrum,sporting $7 billion and $4 billion respectively. By 2026, Linea aims to be the top choice for ETH capital and encourage credible, neutral platforms adoption among major financial institutions.
Decentralized exchanges on Linea achieved a volume of $1.97 billion this month, a considerable leap from July’s $258 million. Stablecoin usage rose over 1.5% in the past week, with USDC dominating.
Analyzing linea’s price trends, the 30-minute chart reflects a bottom at $0.02168. If moving towards the markup phase,the price could spike sharply towards $0.050, indicating substantial potential growth.
