The DeFi ecosystem has grabbed the news in recent days. The $292 million exploit of Kelp affected other leading DeFi protocols, including Aave. As the leading DeFi blockchain, Ethereum is also feeling the impact, with DeFi platforms losing over $10 billion since the start of the week. However, Ethereum has maintained its price above the $2,300 level and could rally higher in the near term. The Ethereum network is also struggling with a surge in total fees captured on its mainnet over the past week. The metric has spiked to its second-highest level since the October 10 leverage flush, reducing ETH’s supply.
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