DeFi Volumes Surge Despite Flash Crash – Record Trading & Lending Fees

Following a dramatic flash crash on October 11th, decentralized finance (DeFi) markets experienced significant volatility. Data from DeFiLlama reveals trading positions on perpetual DEXs plummeted from $26 billion to under $14 billion in hours. However, lending platforms saw an unprecedented surge in fees, exceeding $20 million for the first time ever on a single day. Weekly trading volume across decentralized exchanges also hit a record high of $177 billion, indicating strong trader activity.