Mantle DeFi TVL surpasses 1 billion USD, stablecoin market cap reaches 980 million USD

According to Chainwire, the total value locked (TVL) in Ethereum's Layer 2 network Mantle has surpassed the $1 billion mark for the first time, and its stablecoin market cap has soared to $980 million, with both key on-chain metrics reaching all-time highs.

The report states that this is due to the growing number of protocols, integrations, and capital flows within the Mantle ecosystem, where the total lending market size on Mantle on Aave has exceeded $1.25 billion; the deposit amount of USDT on Mantle has surpassed $600 million.