Cryptocurrency markets made a modest rebound after last week’s decline as investor activity slowed over the holiday season.

Bitcoin (BTC) fell to a weekly low of $86,561 on Tuesday before rebounding above $88,600 on Friday, According to to TradingView data.

Demand for exchange-traded funds (ETFs) in the Bitcoin spot market remained tender, recording outflows of $175 million on Wednesday, marking the fifth consecutive day of net outflows. According to for investors from Farside.

In the broader cryptocurrency space, members of the Aave community have criticized their decentralized lending and borrowing protocol over what they described as a premature push to introduce governance proposals for ownership of branded assets.

The proposal, which sought to return control of the protocol’s branding and intellectual property to an entity controlled by the DAO, was rejected by a majority vote on Friday.

Aave management vote ends in rejection after community opposition

Aave token holders have voted against a controversial governance proposal aimed at giving control of the protocol’s branded assets to a DAO.

Snapshot survey on Friday Closed with 55.29% of the votes “NO” and 41.21% abstentions. Only 3.5% of voters supported this proposal.

The proposal asked whether Aave (AAVE) token holders should regain control of Aave domains, social nicknames, naming rights and other intellectual property through an entity within a decentralized autonomous organization (DAO). Supporters hailed the move as a step toward decentralization and clarification of brand management issues.

The rejection ended a tense management phase for Aave, one of the largest decentralized finance (DeFi) lending protocols. It highlights how time, escalation, and participation can shape governance outcomes in DAOs.

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DEX Adoption, HYPE Case for $200 HIP-3 Fuel as Rivals Threaten Hyperliquid Dominance

Decentralized perpetual contract exchange Hyperliquid has been among the breakout cryptocurrency projects of 2025, but rivals’ lucrative reward systems are trying to lure investors away.

Cantor Fitzgerald forecasts that the HYPE (HYPE) Hyperliquid token will rise to $200 by 2035. Hyunsu Jung, CEO of treasury company HYPE Hyperion DeFi, says this growth will be driven by the Hyperliquid 3 (HIP-3) upgrade proposal.

“We see HIP-3 as a key driver of Hyperliquid’s next phase of growth and a key enabler of the valuation framework proposed by Cantor,” Jung told Cointelegraph.

Perpetual swaps are futures derivative contracts that track the price of an underlying asset but do not have an expiration date. The contracts maintain a price similar to spot assets through a financing mechanism that transfers payments between long and compact holders.

DEX perpetual futures market share increased from 2.1% in January 2023 to a fresh record high of 11.7% in November 2025, According to to the CoinGecko data aggregator report.

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CZ proposes a solution to the poisoning problem after the investor lost $50 million

Binance co-founder Changpeng Zhao has proposed additional security measures to “eliminate” address poisoning, including wallet warnings and blacklists of suspicious accounts.

“All wallets should simply check if the receiving address is a ‘poison address’ and block the user. This is a blockchain query,” Zhao wrote in a blog post on Wednesday post.

Address poisoning is a form of phishing in which fraudsters trick victims into sending cryptocurrency to illicit wallets by first sending them diminutive transactions. Unsuspecting users often copy and paste the attacker’s address from their wallet history.

Phishing scams cost 6,344 victims more than $7.7 million in November, according to Scam Sniffer. This number is expected to escalate in December, mainly due to $50 million in USDT (USDT) lost by one victim on Friday.

“Finally, wallets shouldn’t even show these spam transactions anywhere. If the file value [transaction] it’s small, just filter it out,” Zhao added.

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USDe Etheny has lost $8.3 billion since October crash amid ‘loss of confidence’

Since the main liquidation on October 10, net outflows from Ethena’s synthetic USDe have decreased by approximately $8.3 billion as confidence in leveraged and synthetic collateral structures continues to weaken.

According to A report from 10x Research The October sell-off was a turning point for the cryptocurrency market, turning a bull phase into a period of deleveraging. The disaster resulted in the estimated value of the cryptocurrency market being lost at $1.3 trillion, which was almost 30% of the total capitalization at the time.

Under these conditions, Ethena USDe (USDE), which relies on synthetic collateral and hedging mechanisms rather than traditional fiat reserves, faced a “rapid loss of confidence,” analysts wrote.

USDe’s market capitalization as of October 9 was nearly $14.7 billion, according to CoinMarketCap data. In just over two months, that figure dropped to about $6.4 billion.

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The Uniswap fee change will go into effect after the community vote ends

The long-awaited fee change for the Uniswap protocol, dubbed “UNIFICATION,” has been passed and was set to go into effect later this week, having reached the 40 million vote threshold needed to trigger one of the largest upgrades in the decentralized exchange protocol’s seven-year history.

Uniswap Labs CEO Hayden Adams he said on Thursday that a successful vote would come after a two-day lockout period during which the Uniswap v2 and v3 toll switches would be flipped on the Unichain mainnet, causing more Uniswap (UNI) tokens to be burned.

Under the proposal, 100 million UNI tokens will be burned from the Uniswap Foundation treasury, and a protocol fee discounted auction system will be implemented to increase returns to liquidity providers.

The changes are expected to significantly improve the supply and demand dynamics for the UNI token and make it a more attractive token to hold in the long term.

News of the unification proposal that emerged in early November sparked an almost 40% surge in the UNI token, which rose from around $7 to $9.70 on November 11.

Uniswap is the largest decentralized exchange and has processed over $4 trillion in trading volume since its launch in November 2018. CoinGecko data shows that UNI is the 39th largest token by market capitalization, with a value of $3.8 billion.

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DeFi market overview

According to data from Cointelegraph Markets Pro and TradingView, most of the top 100 cryptocurrencies by market capitalization ended the week in the green.

Memecoin Pippin (PIPPIN) rose over 41% to be the biggest gainer of the week, followed by the Canton token (CC) which gained over 25% on the weekly chart.

Thank you for reading our roundup of the most important events in DeFi this week. Join us this Friday for more stories, insights and education about this dynamic space.