Polygon DeFi TVL Jumps 43% in 2025 as QuickSwap, Polymarket Lead Inflows

Cryptocurrency

Summary:

According to DefiLlama data, the network recorded $864 million in TVL on Jan. 1, and added roughly $400 million in the following months to hit $1.23 billion as of Aug. 18.

The total value locked (TVL) in Polygon’s (POL) DeFi ecosystem is up nearly 43% since the start of this year.

According to DefiLlama data, the network recorded $864 million in TVL on Jan. 1, and added roughly $400 million in the following months to hit $1.23 billion as of Aug. 18.

Furthermore, the POL price reflected the TVL growth in the past 30 days, rising above the sector’s average.

Growth driven by traditional protocols

In the past 30 days, Polygon’s TVL increased 7% and reached its highest level since mid-December. The network’s flagship DEX, QuickSwap, and the prediction market Polymarket were the two main drivers behind the $80 million increase.

QuickSwap registered approximately $52 million in TVL inflows in the past 30 months, growing 13.4% in the period. The increase marked the first time QuickSwap has surpassed $440 million in total deposits since May 2022.

Furthermore, Polymarket drew around $28 million in bettors’ money in its 30.2% growth registered in the past 30 days.

Notably, there is potential for more TVL growth. Data from Artemis shows $123 million in netflows directed to Polygon in the past 30 days. The movement suggests that funds are moving on the blockchain that could still be allocated to decentralized applications.

POL outperforms peers

POL’s price increased 6.6% in the past 30 days. Although the number is not a typical two-digit run seen in tokens with small market caps, it was enough for POL to outshine its peers in the sector.

Artemis groups tokens such as POL, Solana, Sui, and other smart contract-focused blockchains in the “Smart Contract Platform” category. Among the 46 tokens tracked in this category, the average weighted performance was 4.5% in the past 30 days.

As a result, POL’s performance stands nearly 50% above the sector’s monthly average gain. Additionally, considering the 22 sectors tracked by Artemis, together with Bitcoin and Ethereum, the average performance was less than 0.5%.

Despite the rough price action POL experienced since 2024, the past 30 days were relatively good enough, likely fueled by on-chain action.

Source: Cryptoslate

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Adam

Cryptocurrency

It’s been a summer to remember for crypto.

Bitcoin is eclipsing record highs, shares in crypto-related companies are soaring and Wall Street is rethinking its stance on the industry.

Once on the fringes of finance, cryptocurrency is now being embraced by a growing base of enthusiastic investors — and that’s driven in large part by the White House’s support. It’s integrating with traditional finance more than ever before, bolstered by sweeping legislative changes in Washington.

For example, President Donald Trump recently issued an executive order that opened the door for digital assets like crypto to be included in 401(k)s. This boosted bitcoin — the world’s largest cryptocurrency by market value — to a record high of $124,000 last week.

Anything related to bitcoin has been on fire this year as investors continue to pour money into crypto-related companies. Meanwhile, skeptics who warn of crypto’s flaws are raising concerns about heightened risks for consumers.

Shares in Robinhood (HOOD), a trading platform that includes cryptocurrencies, have soared 200% this year. Coinbase (COIN), a crypto exchange, has gained 28%.

Strategy (MSTR), a company that purchases bitcoin, is up 26% this year. And BitMine Immersion Technologies (BMNR), a company that mines bitcoin, has surged 625%.

In comparison, the benchmark S&P 500 is up 10% this year. The Nasdaq 100, an index tracking the 100 largest tech companies in the United States, is up 13%.

Crypto is climbing into unprecedented territory. Google is part of a multibillion-dollar deal with a bitcoin mining company called TeraWulf, helping drive enthusiasm about the industry.

“Institutional adoption and strategic infrastructure deals have propelled crypto markets well beyond summer expectations,” said Brian Dobson, head of disruptive technology equity research at brokerage firm Clear Street. “We see this as the early stages of a broader cycle.”

A persistent rally

The current crypto mania has the makings of a classic speculative rally, supported by intense bullishness on tech, AI and crypto, according to Steve Sosnick, chief strategist at Interactive Brokers, a trading platform.

“The (Trump) administration proclaimed that it would be crypto-friendly,” Sosnick said. “Markets have been very much willing to embrace speculation of any kind.”

Circle (CRCL), a stablecoin issuer (a type of crypto coin), has surged 80% since it debuted on the New York Stock Exchange on June 5. The latest crypto-related company to debut on the New York Stock Exchange is called Bullish (BLSH).

Retail investors have been big buyers. However, 9% of global fund managers surveyed by Bank of America in August had exposure to cryptocurrency.

“One factor is just pure excitement around the potential diversification of 401(k)s into alternative assets,” said Michael Green, chief strategist at Simplify Asset Management. “The growing acceptance and awareness of crypto in that space has really powered flows into bitcoin in particular this year.”

BlackRock has also propelled bitcoin’s ascent. The asset management firm launched its own bitcoin exchange-traded fund in January 2024 after the Securities and Exchange Commission greenlit bitcoin-focused ETFs.

The ETF is up 137% since its launch, and it’s become the primary vehicle for investors to get exposure to bitcoin without purchasing the cryptocurrency, Green said. The S&P 500, in comparison, has gained 37% across the same period.

Wall Street is taking notice

Another crypto win came on July 18, when Trump signed the GENIUS Act into law, laying out regulations for stablecoins.

Stablecoins are a type of crypto pegged to another asset, like the US dollar, to keep its value steady. The “stable” value gives it potential use in digital payments.

JPMorgan Chase CEO Jamie Dimon on his company’s earnings call in July said the bank is going to be involved in stablecoins to “understand it” and “be good at it.”

“The way to be cognizant is to be involved,” Dimon said. “We’re going to be in it and learning a lot.”

JPMorgan on July 30 also announced a partnership with Coinbase “to make buying crypto easier than ever.” Beginning this fall, Chase customers will be able to fund their Coinbase accounts to purchase crypto with their Chase credit cards.

Rewards and risks

With all the crypto changes this year, it’s important for investors to “seek as much education as possible” on new technologies and assets like bitcoin to better grasp “all of the opportunities and risks involved,” said Chris Kuiper, vice president of research at Fidelity Digital Assets.

The Trump family has been active in the crypto industry. World Liberty Financial, a company tied to the Trump family, has issued its own stablecoin.

Treasury Secretary Scott Bessent on Thursday said in a social media post that the government aims “to execute on the President’s promise to make the United States the ‘Bitcoin superpower of the world.’”

While markets cheer developments in the space, others are warning of crypto’s flaws and raising concerns about potential financial risks. The GENIUS Act, for example, has been heralded by proponents of the crypto industry. Yet some policy advocacy groups are drawing attention to what they call the lack of consumer protections.

“The GENIUS Act does not really offer much in the way of consumer or investor or financial stability protections beyond what already exists,” said Amanda Fischer, policy director at Better Markets, a nonprofit advocacy group.

“I do not think that this bill should be viewed as regulating stablecoins, so much as it is the government endorsing stablecoins and importing crypto risks into the regular financial system,” Fischer said.

Source: cnn

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Devin

Political

Oil prices edged up on Monday as investors awaited talks between U.S. President Donald Trump and his Ukrainian counterpart after an inconclusive U.S.-Russia summit in Alaska on Friday

Brent crude futures rose 34 cents, or 0.52%, to $66.19 a barrel by 12:00 p.m. EDT (1600 GMT). U.S. West Texas Intermediate crude was up 38 cents, or 0.61%, at $63.18.

Last week Brent eased by 1.1% while WTI dropped 1.7%.

Ukrainian President Volodymyr Zelenskiy said on Monday he was ready to work to end the war with Russia ahead of a meeting with Trump where he could face pressure to accept terms favourable to Moscow.

Investors are watching for clues on potential ramifications for global oil supply, with potential for either a tightening of sanctions or steps toward reconciliation.

"The market is still locked in a speculative fervour right now," said Phil Flynn, a senior analyst with Price Futures Group. "Traders seem to be very pessimistic on prices, which either meant they were expecting a cease fire deal or they think President Trump won't follow though with the tough sanctions."

Trump told Ukraine on Monday to give up hopes of getting back annexed Crimea or joining NATO, emerging more aligned with Moscow on seeking a peace deal instead of a ceasefire first after his meeting with Russian President Vladimir Putin in Alaska on Friday.

The Alaska summit ended with no agreement to resolve or pause the war, though Trump emerged from talks more aligned with Moscow on seeking a peace deal rather than a ceasefire first.

Meanwhile, White House trade adviser Peter Navarro said India's purchases of Russian crude were funding Moscow's war in Ukraine and had to stop, reviving concerns about supply flows.

"India acts as a global clearing house for Russian oil, converting embargoed crude into high-value exports while giving Moscow the dollars it needs," Navarro said.

Priyanka Sachdeva, senior market analyst at brokerage Phillip Nova, said: "The U.S. adviser's sharp words on India's Russian crude imports, paired with postponed trade talks, revive concerns that energy flows remain hostage to trade and diplomatic frictions, even as peace prospects in Ukraine brighten."

Investors are also watching for clues on U.S. interest rates from Federal Reserve Chairman Jerome Powell's comments at this week's Jackson Hole meeting.

Source: Reuters

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Adam

Economic

Emerging-market funds are pivoting to capture the artificial intelligence craze, with some investors predicting that booming technology spending will drive returns for years to come.

Encouraged by the success of Chinese AI developer DeepSeek and Asia’s powerhouse semiconductor firms, asset managers like AllSpring Global Investments and GIB Asset Management are concentrating more of their portfolio in AI stocks. That’s been a winning trade, with AI companies being the six biggest contributors to the rally in Bloomberg’s EM stocks index this year.

“This trend could last for the next 10 to 20 years,” said Alison Shimada, head of total emerging markets equity at AllSpring, which oversees $611 billion. “The impact on local populations within EM will be transformational.”

AI Boom Seen Driving Next Decade of Emerging-Market Returns_1

AI Craze Drives Earnings Bets | Tech index beats broader EM in profit projections

While much of the AI investment frenzy has focused on a handful of Silicon Valley firms, EM companies that can harness the technology or supply crucial components are benefitting. AI servers, for example, have become the main growth driver for Taiwan’s Hon Hai Precision Industry Co., which is known as Foxconn.

The top contributors to Bloomberg’s EM stock index this year are Taiwan Semiconductor Manufacturing Co., Tencent Holdings Ltd., Alibaba Group Holding Ltd., Samsung Electronics Co., SK Hynix Inc. and Xiaomi Corporation, together accounting for 37% of the index’s rally.

Emerging-market stocks that are highly exposed to AI have even outperformed the so-called Magnificent Seven megacap tech firms so far this year, according to equities strategists at Citigroup Inc.

“You cannot invest in emerging markets without having a sanguine and optimistic view of what this AI story can evolve into from a corporate earnings perspective,” said Kunal Desai, London-based co-portfolio manager for global emerging markets equities at GIB Asset Management.

On Monday, MSCI Inc. gauges for emerging-market stocks rose on optimism over easing China-US trade tensions, but the MSCI EM IT Index declined due to levies on semiconductors. Chipmakers Samsung and SK Hynix led a selloff in South Korea.

Desai said that Taiwan and South Korea will be “central drivers” of the EM market story over the next two to three years, with Malaysia, China, India, parts of Latin America and the Middle East seeing “disproportionate gains” due to their exposure to AI data and applications. His fund has invested in AI stocks during recent market dips, predicting that a third of emerging market returns will come from AI-related stocks in the coming years.

There are signs that the momentum will continue as AI adoption accelerates across segments including cloud computing and electrical vehicles. The average estimate of forward 12-month earnings for EM tech stocks has increased 15% since the start of the year, compared to 6% for EM stocks overall.

“The share of AI contribution from the performance standpoint will only grow from here,” said Xingchen Yu, an emerging markets strategist at UBS Global Wealth Management. “The rise of AI and tech is creating a new layer of secular growth, especially in North Asia.”

AI Boom Seen Driving Next Decade of Emerging-Market Returns_2

Performance Boost for IT | Info-tech companies are consistently meeting earnings expectations

The AI revolution could help EM stocks overcome a key obstacle: earnings performance. Company results have lagged forecasts every quarter since early 2022, with MSCI EM Index companies collectively missing profit expectations by more than 12%, according to data compiled by Bloomberg.

But firms in the AI-heavy information-technology sector have consistently met earnings projections since the fourth quarter of last year, boosting investor confidence.

“This sector has been expected to grow explosively and will continue to do so in the future,” said Young Jae Lee, senior investment manager at Pictet Asset Management Ltd. “AI will continue to be a key sector within emerging markets.”

Source: Bloomberg

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Adam

Economic

Markets ended last week largely unfazed by a hotter wholesale inflation print and signs of firming consumer prices, but some economists warn the underlying story is more concerning than investors seem to believe.

The Producer Price Index (PPI) for July surged to a three-year high, with services inflation playing a key role in the gains. A similar trend appeared in the latest Consumer Price Index (CPI) report earlier this week as firming prices in services like dental care and airline fares marked a surprise reversal from the prior softening that had been offsetting higher goods prices from tariffs.

The fresh data now puts the Federal Reserve, which targets 2% inflation, in a precarious position as tensions between its dual mandate of price stability and maximum employment begin to surface.

Massive downward revisions in July's jobs report fueled concerns that the labor market is softening too quickly, strengthening the case for rate cuts. But the hotter-than-anticipated inflation data could suggest the need for more restraint.

As of Monday morning, markets continued to price in about an 85% probability that the central bank will cut rates in September, according to the latest CME FedWatch Tool. Federal Reserve Chair Jerome Powell's Jackson Hole speech next week could give hints on the Fed's next policy move.

The Fed's dual mandate tension

Some economists argue the Fed should hold off on rate cuts — or even consider raising rates.

"These are broad-based inflationary pressures," Lauren Saidel-Baker, economist at ITR Economics, told Yahoo Finance following this week's hotter-than-expected PPI print. "I see more reason for rates to be rising in order to not let inflation get away from us."

Saidel-Baker noted these pressures have been building for years and aren't solely the result of tariffs. She pointed to higher wages and rising energy costs as key drivers now feeding into the data. She also stressed that the full impact of tariffs will take time to emerge.

"Inflation is the risk that's on our doorstep, much more so than the labor market," Saidel-Baker emphasized. "Fed officials know that."

Chicago Fed president Austan Goolsbee cautioned on Wednesday that a continued rise in services prices, similar to what was seen in this week's CPI report, would be worrisome

"Services are not tied to the tariffs," he said. "Everyone is hoping that's just a blip. There's noise in the data. If you start to get multiple months where the components suggest that the impact of tariff inflation is not staying in its lane, that would be more of a concern."

At the same time, the latest numbers painted a mixed picture.

Michael Gapen, chief US economist at Morgan Stanley, told Yahoo Finance last week that the July CPI report offered "some good news and some bad news."

"The good news here is that tariff impulse into inflation wasn't as high as anticipated this month," he said. "The bad news is that services inflation was pretty soft in prior months. And it did give the impression to many that, hey, maybe we could ignore tariff inflation because services weakness will offset it. But now, I think a lot of that's reversed."

"I'm not ready to say, 'Oh, services is about ready to roar higher," he added, "[but] if it's firming, we do have to watch out."

Gapen is still calling for no rate cuts this year, despite the market's near certainty that at least one is coming.

"There's enough inflation momentum here that suggests inflation will continue to deviate from the Fed's mandate," he said. "Immigration controls are likely to keep the unemployment rate low. And that means a tight labor market."

Source: finance.yahoo

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Adam

Economic

Central Bank

As Federal Reserve officials gather in Jackson Hole, Wyo., this week for their 43rd annual economic policy symposium, Federal Reserve Chair Jerome Powell and his central bank colleagues face a dilemma: hold interest rates steady in September on account of rising inflation, or lower rates thanks to weaker job market reports.

That's what a very divided Fed is tussling with as markets are pricing in a quarter percentage point rate cut next month — and President Trump pounds Chair Powell to lower rates.

Investors will be listening for clues about what the Fed may do in September when Chair Powell gives his speech on Friday at 10 a.m. ET at the storied Jackson Lake Lodge in the middle of Grand Teton National Park. It will be his last speech in Jackson Hole as Fed chair.

Fed officials have been closely watching for the impact of tariffs on inflation. But recent readings from the Consumer Price Index and the Producer Price Index have shown mild effects from tariffs as services inflation unexpectedly heated up in July, catching the attention of some Fed officials. Services account for the majority of the US economy, while goods just account for 11% of GDP. Chicago Fed president Austan Goolsbee cautioned last week that if we see services inflation heading higher in subsequent reports, that would be a concern.

Other officials, including Kansas City Fed president Jeff Schmid, Cleveland Fed president Beth Hammack, and Atlanta Fed president Raphael Bostic, have been more concerned about inflation.

Inflation is now running a full percentage point above the Fed’s 2% target.

But Bostic also believes that a weaker-than-expected July jobs report raises the risk that the labor market may be weakening. Bostic says the Fed’s task is to figure out how much the job market has slumped by the next policy meeting and whether the central bank should cut rates.

The latest government jobs report showed a weaker reading on the labor market, with just 73,000 jobs added in July and with downward revisions to the prior two months, bringing the three-month average employment gain down to 35,000.

Following that report, San Francisco president Mary Daly and Minneapolis Fed president Neel Kashkari both turned from more of a “wait and see” approach to one of concern about the outlook for the job market. They join Fed governors Chris Waller and Michelle Bowman, who both dissented at the July policy meeting, preferring to cut rates by 25 basis points on concerns about jobs.

Following the July policy meeting, Chair Powell reiterated that more time is needed to assess how Trump’s tariffs will affect the path of inflation and the strength of the economy. He told reporters there is still a "long way to go” to figure out exactly what the impact of tariffs is, adding, "You have to think of this as still quite early days."

He also made it clear that inflation was still a concern as the Fed balances its dual mandate of stable prices and maximum employment, saying, “The economy is not performing as though restrictive policy is holding it back inappropriately, and modestly restrictive policy seems appropriate. All that said, there’s also downside risk to the labor market.”

Powell noted that a good amount of data before the September policy meeting will help inform the Fed’s view. The question is whether the weak July jobs report is enough for Powell, who saw downside risks to employment in July.

Markets are pricing in a rate cut for the next policy meeting on Sept. 17, though odds have receded slightly in recent days following a hotter-than-expected report on wholesale prices.

“Markets are still wholly convinced that the Fed will cut rates by 25bp at the upcoming FOMC meeting in September and follow that up with at least one other cut in October or December,” said Paul Ashworth, chief North America economist for Capital Economics.

Ashworth said he expects Powell to caution at Jackson Hole that a “modestly restrictive policy stance remains appropriate,” as the Fed chair did in his press conference following the July policy meeting.

Luke Tilley, chief economist for Wilmington Trust, said he could also envision Powell expanding on how the Fed takes into account backward-looking data versus forecasted data to make a decision on monetary policy. He is also looking to see whether the Fed chair expounds on how the central bank gauges its progress on its two goals, maximum employment and price stability, and how it calibrates interest rates accordingly.

Framework unveiled?

Fed Chair Powell is also set to announce the results of the central bank’s policy framework review at Jackson Hole. The Fed is revisiting changes made to its strategy for monetary policy, tools, and communication last changed in 2020. The central bank adjusts its framework every five years.

The last iteration of the framework adopted a flexible average inflation target, given that in the years preceding 2020 inflation remained slightly below the Fed’s 2% target. Given the recent bout of inflation, and the risks it poses to inflation expectations and consumer sentiment, the Fed is likely to drop that.

“While the adoption of the new framework in 2020 was not the primary factor behind the Fed’s delay and the substantial inflation overshoot, it contributed to this outcome,” said Matt Luzzetti, chief US economist for Deutsche Bank.

As a result, Luzzetti expects Powell’s speech to restore a more preemptive strategy for monetary policy that recognizes risks of supply shocks and return to a balanced view of inflation and the job market.

“The economic environment has changed significantly since 2020, and our review will reflect our assessment of those changes,” Powell said in a speech in May.

Powell noted in that May speech that inflation could be more volatile going forward than in the 2010s and that the US may be entering a period of more frequent, and potentially more persistent, supply shocks.

Powell also said that Fed officials may reconsider “shortfalls” around trying to get to the Fed’s 2% inflation target and average inflation targeting. He also stressed enhancing the central bank's formal policy communications, particularly regarding the role of forecasts and uncertainty.

Investors will watch for whether the Fed rolls out changes to its quarterly Summary of Economic Projections, which contains the famous “dot plot,” a compilation of each member of the FOMC’s expectations for interest rates that year.

Source: finance.yahoo

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Devin

Political

President Trump on Monday issued a scorching message aimed at Hamas as well as the growing internationall and domestic critics of America's Israel policy. He called for the total destruction of Hamas and the return of the hostages, in that order.

"The sooner this takes place, the better the chances of success will be," he wrote on Truth Social. This is one of the clearest 'greenlights' for Netanyahu's expanded Gaza operations to date, and it cleary backs his government's pursuit of a military solution, as opposed to attempting to renew or prioritize negotiations for a hostage exchange.

In bizarre language which sounds more like an enthusiastic gambler preparing to enter the casino, Trump declared after reviewing his recent Middle East 'accomplishments': "Play to WIN, or don't play at all!"

This comes on the heels of a weekend which saw more mass anti-Netanyahu protests across Israeli cities, especially in Tel Aviv. Also, President Trump held a phone call with PM Netanyahu on Sunday.

Netanyahu's office said they "discussed Israel's plans to take control of the remaining Hamas strongholds in Gaza in order to bring an end to the war through the release of the hostages and the defeat of Hamas."

Trump in a follow-up interview with Axios said of the terror group, "they can't stay there" - and explained: "I have one thing to say: remember October 7, remember October 7."

Netananyahu told a Sunday press briefing that he has requested the Israel Defense Forces to present plans for "taking over" Gaza City.

There are reports saying the Israeli government is planning to 'move' Palestinian civilians into massive tent cities, with tents being provided and erected by the Israelis - but international war monitors and human rights groups have decried this as ethnic cleansing - but dressed up in humanitarian language, given the creation and publicizing of yet more sprawling refugee camps.

Below is a Monday update of some of the latest major developments via Al Jazeera:

The Palestinian Ministry of Health in Gaza says the death toll from Israel’s war has surpassed 62,000 with 60 people killed and 344 injured in the latest 24-hour reporting period.
Hospitals say 27 people seeking aid have been killed and 281 injured over the past day, bringing the total death toll of aid seekers to 1,965.
The ministry also confirms five new deaths from famine and malnutrition, including two children, raising the overall toll from hunger-related causes to 263, among them 112 children.
Israel continues its attacks across the Gaza Strip, including a strike on the Daraj neighbourhood in Gaza City that killed three Palestinians, among them a child.
Amnesty International has accused Israel of enacting a “deliberate policy” of starvation in Gaza, citing testimony from displaced Palestinians and doctors treating malnourished children.
Israeli Foreign Minister Gideon Saar says he has revoked visas of Australian representatives to the Palestinian Authority after Canberra denied entry to far-right Israeli MP Simcha Rothman.
Norway’s sovereign wealth fund, the world’s largest, says it will exclude six companies tied to Gaza and the West Bank from its portfolio after a review of Israeli investments.

Tent cities have already been expanding outside Gaza city and in various districts.

Food scarcity has continued to be an immense and dire problem, and something expected to worsen as civilians are driven out of Gaza City by the looming new Israeli ground offensive.