On September 5th, the Crypto Assets market saw a slight overall rise, with funds in the DeFi zone showing a mixed performance. The total TVL across the network fell below $1.53 trillion, and DEX volume remained low, with funds more concentrated in local hotspots. Linea's TVL surged over 70% in a week, becoming the focus of the Layer 2 track; WLFI sparked market controversy due to blacklist incidents; meanwhile, institutions are increasing their investments in Solana, indicating that mainstream public chains still have long-term appeal.
Decentralized Finance Market Overview
(Source: DeFiLlama)
Total DeFi TVL across the network: approximately 152.858 billion USD, 24H down 1.33%.
DEX 24-hour volume: approximately $14.681 billion, down 24.09% in the past week, with the top three being: Uniswap ($3.396 billion), PancakeSwap ($2.629 billion), Meteora ($0.94102 billion).
Popular Protocols and On-Chain Performance
Based on TVL, the top ten DeFi protocols data is as follows:
(Source: DeFiLlama)
The data performance of the top-ranked protocols are as follows:
Aave: TVL approximately $39.347 billion, daily decrease of 0.76%, 24-hour fees approximately $3.13 million;
Lido: TVL approximately 37.887 billion USD, daily decrease of 1.12%, 24-hour fees approximately 3.01 million USD;
EigenLayer: TVL approximately 18.894 billion USD, daily decrease of 1.5%, 24-hour fees approximately 10,164 USD;
Ethena: TVL approximately 12.736 billion USD, daily decrease of 0.24%, 24-hour fees approximately 11.08 million USD;
Pendle: TVL approximately 11.142 billion USD, daily growth of 1.8%, 24-hour fees approximately 82,427 USD.
Project News Review
According to DefiLlama data, the DeFi TVL of the Linea network has surpassed 1.2 billion USD, currently reported at 1.214 billion USD, with an increase of 71.14% in the past week, setting a new historical high.
The top three TVL DeFi protocols on the network are Aave ($723 million), Etherex ($266 million), and Renzo ($229 million) (some protocols may have overlapping calculations).
Previously, Linea announced the launch of the Ignition liquidity incentive program, distributing 1 billion LINEA tokens as rewards. Etherex, Aave, and Euler were designated partners for the event.
World Liberty has blacklisted Justin Sun's address, locking 540 million unlocked tokens and 2.4 billion locked tokens, stating that they believe a certain exchange has been using user tokens for selling, thereby suppressing prices. In response, Justin Sun stated: "Our address has only done a few generic exchange recharge tests with very low amounts, and then diversified the address, without any buying or selling involved, which cannot have any impact on the market."
He also stated: "As one of the early major investors in WLFI, I not only contributed funds but also provided trust and support for the future development of this project. My goal has always been to grow together with the team and community, and to build a strong and healthy WLFI ecosystem."
But during the operation, my tokens were unjustly frozen. As one of the early investors, I joined along with everyone else, and we purchased in the same manner, so we should all enjoy the same rights.
I urge the team to respect these principles, unlock my tokens, and let us work together towards the success of WLFI.
I believe that a truly great financial brand must be built on the foundation of fairness, transparency, and trust, rather than on unilateral actions that freeze investors' assets. Such measures not only infringe upon the legitimate rights and interests of investors but may also undermine people's general confidence in World Liberty Financials.
According to official news, the US-listed company DeFi Development Corporation announced the purchase of 196,141 SOL at an average price of $202.76, increasing the total holdings in the treasury to 2,027,817 SOL, valued at $427 million. This acquisition represents an 11% increase over the previously announced acquisition amount on August 28, 2025.
Jito Foundation announced four updates to the JTO token economics:
· Completed the first round of $1 million JTO buyback and future plans: Within ten days, completed the buyback of JTO worth $1 million in four installments. Will continue to use the TWAP buyback strategy while developing other mechanisms, such as an auction system, to achieve the automatic accumulation of JTO value.
· The JIP-24 proposal has been passed, doubling the fees for the DAO block engine.
· Launch the JTO Economic Hub page.
· Hold the first JTO token holder conference call.
According to official news from Buidlpad, the settlement and refund process for the public sale of the Bitcoin DeFi protocol Lombard's token BARD has officially started. To ensure the safety of all users' funds, withdrawals will be opened in stages. Token claims will be opened at Lombard's TGE.
Overview of Leading DeFi Projects in Various Ecosystems
Solana DEX 24-hour volume has once again surpassed Ethereum to take the top spot, approximately 3.801 billion USD, a decline of 18.76% over the past week, with the top three projects being:
Ethereum DEX ranks second in 24-hour trading volume, approximately 3.378 billion USD, a decrease of 27.64% over the past week, with the top three projects being:
According to the data from the Gate market page, the price performance of the top ten tokens in the DeFi zone is as follows:
(Source: Gate DeFi zone market)
As of September 5th, the cryptocurrency market is overall rising, with the DeFi zone showing mixed performance. Specifically:
UNI is currently reported at 9.53 USD, with a 24-hour rise of 1.10%;
AAVE is currently reported at 309.84 USD, with a 24-hour decline of 2.79%;
WLFI is currently priced at 0.1861 USD, with a 24-hour rise of 2.76%;
INJ is currently reported at 12.67 USD, with a 24-hour drop of 2.12%;
CRV currently reports 0.7597 USD, with a 24-hour decline of 0.61%;
MORPHO is currently reported at 2.03 USD, with a 24-hour rise of 3.26%.
Market Trend Interpretation
TVL pullback, volume remains sluggish
The total DeFi TVL across the network reports at $15.2858 billion, a decrease of 1.33% over the past 24 hours; DEX volume is approximately $14.681 billion, down 24.09% from last week, with funds mainly on the sidelines and liquidity highly concentrated in a few leading projects.
Linea TVL rose over 70% in a week, the incentive effect is significant
The TVL of the Linea network has surpassed $1.2 billion, with a weekly increase of over 71%, setting a new historical high. The Ignition liquidity incentive program has driven rapid inflow of funds, with Aave, Etherex, and Renzo becoming the main supporting protocols.
World Liberty has blacklisted Justin Sun's address and frozen nearly 3 billion coins, sparking fairness disputes among investors. Although WLFI has slightly rebounded in the short term, the long-term trust crisis may adversely affect ecological development.
Solana receives institutional accumulation, ecological funding resilience is highlighted
The US-listed company DeFi Development Corporation has increased its holdings of SOL again, with a total holding surpassing 2,027,817 coins, worth approximately $427 million. Despite the fact that the trading volume on Solana DEX has decreased by nearly 19% week-on-week, the continuous influx of institutional funds highlights the resilience of its ecosystem.
Jito Buyback and Tokenomics Update, Attempting Value Accumulation
Jito Foundation completed a $1 million buyback and launched the Economic Hub. The DAO promotes JTO value capture through a fee doubling proposal. The token economic model enters the dynamic optimization phase.
Analyst Views
Liquidity Pattern Differentiation
The TVL pullback and decline in volume reflect a cautious overall capital stance, but certain sectors (Linea, Jito) attract funds against the trend due to incentives or mechanism optimization, showing that structural opportunities in the market still exist.
Layer 2 has become the market focus
With the support of incentives, Linea has reached a new high in TVL, strengthening Layer 2 as a liquidity hub. More projects in the future may follow suit and launch incentive programs to promote capital migration.
Governance and Trust Game Intensifies
The WLFI blacklist incident exposes contradictions in governance and fairness. Although the project still has funds for buybacks and narrative support, the trust gap may affect long-term capital inflows.
Public Chain Differentiation and Institutional Signals
Solana has still seen institutional accumulation despite a decline in trading activity, indicating that mainstream public chains are becoming targets for institutional allocation, potentially releasing greater value during the upcoming bull market phase.
The trend of coupling protocol revenue with token value is strengthening
Protocols like Jito and Ethena enhance token value support through mechanisms such as fee recycling and buyback destruction, demonstrating that DeFi is exploring more stable value capture models.
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Gate Decentralized Finance Daily (, September 5, ): Linea TVL breaks through $1.2 billion all-time high; WLFI pump blacklists Justin Sun Wallet controversy escalates.
On September 5th, the Crypto Assets market saw a slight overall rise, with funds in the DeFi zone showing a mixed performance. The total TVL across the network fell below $1.53 trillion, and DEX volume remained low, with funds more concentrated in local hotspots. Linea's TVL surged over 70% in a week, becoming the focus of the Layer 2 track; WLFI sparked market controversy due to blacklist incidents; meanwhile, institutions are increasing their investments in Solana, indicating that mainstream public chains still have long-term appeal.
Decentralized Finance Market Overview
(Source: DeFiLlama)
Total DeFi TVL across the network: approximately 152.858 billion USD, 24H down 1.33%.
DEX 24-hour volume: approximately $14.681 billion, down 24.09% in the past week, with the top three being: Uniswap ($3.396 billion), PancakeSwap ($2.629 billion), Meteora ($0.94102 billion).
Popular Protocols and On-Chain Performance
Based on TVL, the top ten DeFi protocols data is as follows:
(Source: DeFiLlama)
The data performance of the top-ranked protocols are as follows:
Aave: TVL approximately $39.347 billion, daily decrease of 0.76%, 24-hour fees approximately $3.13 million;
Lido: TVL approximately 37.887 billion USD, daily decrease of 1.12%, 24-hour fees approximately 3.01 million USD;
EigenLayer: TVL approximately 18.894 billion USD, daily decrease of 1.5%, 24-hour fees approximately 10,164 USD;
Ethena: TVL approximately 12.736 billion USD, daily decrease of 0.24%, 24-hour fees approximately 11.08 million USD;
Pendle: TVL approximately 11.142 billion USD, daily growth of 1.8%, 24-hour fees approximately 82,427 USD.
Project News Review
The top three TVL DeFi protocols on the network are Aave ($723 million), Etherex ($266 million), and Renzo ($229 million) (some protocols may have overlapping calculations).
Previously, Linea announced the launch of the Ignition liquidity incentive program, distributing 1 billion LINEA tokens as rewards. Etherex, Aave, and Euler were designated partners for the event.
He also stated: "As one of the early major investors in WLFI, I not only contributed funds but also provided trust and support for the future development of this project. My goal has always been to grow together with the team and community, and to build a strong and healthy WLFI ecosystem."
But during the operation, my tokens were unjustly frozen. As one of the early investors, I joined along with everyone else, and we purchased in the same manner, so we should all enjoy the same rights.
I urge the team to respect these principles, unlock my tokens, and let us work together towards the success of WLFI.
I believe that a truly great financial brand must be built on the foundation of fairness, transparency, and trust, rather than on unilateral actions that freeze investors' assets. Such measures not only infringe upon the legitimate rights and interests of investors but may also undermine people's general confidence in World Liberty Financials.
According to official news, the US-listed company DeFi Development Corporation announced the purchase of 196,141 SOL at an average price of $202.76, increasing the total holdings in the treasury to 2,027,817 SOL, valued at $427 million. This acquisition represents an 11% increase over the previously announced acquisition amount on August 28, 2025.
Jito Foundation announced four updates to the JTO token economics:
· Completed the first round of $1 million JTO buyback and future plans: Within ten days, completed the buyback of JTO worth $1 million in four installments. Will continue to use the TWAP buyback strategy while developing other mechanisms, such as an auction system, to achieve the automatic accumulation of JTO value.
· The JIP-24 proposal has been passed, doubling the fees for the DAO block engine.
· Launch the JTO Economic Hub page.
· Hold the first JTO token holder conference call.
Overview of Leading DeFi Projects in Various Ecosystems
Solana DEX 24-hour volume has once again surpassed Ethereum to take the top spot, approximately 3.801 billion USD, a decline of 18.76% over the past week, with the top three projects being:
Meteora ($941.02 million), HumidiFi ($736.54 million), pump ($598.6 million);
Ethereum DEX ranks second in 24-hour trading volume, approximately 3.378 billion USD, a decrease of 27.64% over the past week, with the top three projects being:
Uniswap ($1.71 billion), Fluid ($653.03 million), Curve Finance ($278.57 million);
Base DEX ranks third in 24-hour trading volume, approximately 1.379 billion USD, down 30.77% over the past week, with the top three projects being:
Aerodrome ($601.77 million), Uniswap ($488.88 million), PancakeSwap ($236.98 million).
Gate DeFi zone token market data
According to the data from the Gate market page, the price performance of the top ten tokens in the DeFi zone is as follows:
(Source: Gate DeFi zone market)
As of September 5th, the cryptocurrency market is overall rising, with the DeFi zone showing mixed performance. Specifically:
UNI is currently reported at 9.53 USD, with a 24-hour rise of 1.10%;
AAVE is currently reported at 309.84 USD, with a 24-hour decline of 2.79%;
WLFI is currently priced at 0.1861 USD, with a 24-hour rise of 2.76%;
INJ is currently reported at 12.67 USD, with a 24-hour drop of 2.12%;
CRV currently reports 0.7597 USD, with a 24-hour decline of 0.61%;
MORPHO is currently reported at 2.03 USD, with a 24-hour rise of 3.26%.
Market Trend Interpretation
TVL pullback, volume remains sluggish
The total DeFi TVL across the network reports at $15.2858 billion, a decrease of 1.33% over the past 24 hours; DEX volume is approximately $14.681 billion, down 24.09% from last week, with funds mainly on the sidelines and liquidity highly concentrated in a few leading projects.
Linea TVL rose over 70% in a week, the incentive effect is significant
The TVL of the Linea network has surpassed $1.2 billion, with a weekly increase of over 71%, setting a new historical high. The Ignition liquidity incentive program has driven rapid inflow of funds, with Aave, Etherex, and Renzo becoming the main supporting protocols.
WLFI Blacklist Incident Intensifies Market Controversy
World Liberty has blacklisted Justin Sun's address and frozen nearly 3 billion coins, sparking fairness disputes among investors. Although WLFI has slightly rebounded in the short term, the long-term trust crisis may adversely affect ecological development.
Solana receives institutional accumulation, ecological funding resilience is highlighted
The US-listed company DeFi Development Corporation has increased its holdings of SOL again, with a total holding surpassing 2,027,817 coins, worth approximately $427 million. Despite the fact that the trading volume on Solana DEX has decreased by nearly 19% week-on-week, the continuous influx of institutional funds highlights the resilience of its ecosystem.
Jito Buyback and Tokenomics Update, Attempting Value Accumulation
Jito Foundation completed a $1 million buyback and launched the Economic Hub. The DAO promotes JTO value capture through a fee doubling proposal. The token economic model enters the dynamic optimization phase.
Analyst Views
Liquidity Pattern Differentiation
The TVL pullback and decline in volume reflect a cautious overall capital stance, but certain sectors (Linea, Jito) attract funds against the trend due to incentives or mechanism optimization, showing that structural opportunities in the market still exist.
Layer 2 has become the market focus
With the support of incentives, Linea has reached a new high in TVL, strengthening Layer 2 as a liquidity hub. More projects in the future may follow suit and launch incentive programs to promote capital migration.
Governance and Trust Game Intensifies
The WLFI blacklist incident exposes contradictions in governance and fairness. Although the project still has funds for buybacks and narrative support, the trust gap may affect long-term capital inflows.
Public Chain Differentiation and Institutional Signals
Solana has still seen institutional accumulation despite a decline in trading activity, indicating that mainstream public chains are becoming targets for institutional allocation, potentially releasing greater value during the upcoming bull market phase.
The trend of coupling protocol revenue with token value is strengthening
Protocols like Jito and Ethena enhance token value support through mechanisms such as fee recycling and buyback destruction, demonstrating that DeFi is exploring more stable value capture models.