Crypto protocols recover $674M, Jupiter DEX memecoin frenzy: Finance Redefined

Trading volumes on the Solana-based DEX Jupiter topped the charts at $480 million in a 24-hour period amid a frenzy for a new memecoin airdrop and heightened stablecoin swaps.

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week.

The past week in crypto saw Solana decentralized exchange (DEX) Jupiter flip the leading DEX platform Uniswap with $480 million in daily trading volume amid a new memecoin airdrop frenzy.

According to a new report, out of $2.61 billion stolen from the crypto market in 2023, $674 million was recovered from 600 large-scale hacks. Meanwhile, Polygon Labs proposes a framework to classify DeFi as “critical infrastructure.”

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