Ethereum reaches a five-week high as DeFi surges.

Perhaps these are famous last words, but the crypto market's weekend resurgence does not feel like a dead cat bounce.

Ether climbed to its highest level in five weeks, and other DeFi assets also showed impressive gains. Since setting a local low on July 13, a number of leading DeFi initiatives have grown. Uniswap is up 37.5% over the past week, while Aave is up 47%.

The industry has lost two-thirds of its market value since early April, when the second quarter began. In addition, the value of assets secured by DeFi protocols plummeted by 65 percent to $83.1B.

Round of Purchasing
According to CoinGecko, ETH has risen 10 percent in the last 24 hours at midday U.K. time and 45 percent since bottoming out on July 13. ETH spent the previous three weeks fluctuating between $1,000 and $1,300, then on July 16 it surpassed $1,300 and created a purchasing frenzy.

According to CoinGecko, Bitcoin's price has risen 4.6% in the last 24 hours and 17.6% in the last five days.

Three of the top 100 DeFi tokens by market capitalization have increased by more than 150% in the past week, including the governance token of the tenth-largest project in the industry, Lido. Only eight of the top 100 tokens had weekly losses, with Neutrino System Base experiencing the highest decline of 6.4%.

Positive Momentum
CoinGecko estimates the total capitalization of DeFi projects to be $44.7B, an increase of 22 percent over the past week. The industry constitutes 4.2% of the global crypto market value and is equivalent to 25% of Ethereum's market cap.

DeFi Llama reports that despite the bullish trend for DeFi tokens, the total value locked (TVL) in DeFi has delivered a slower rebound so far, with combined TVL increasing by 15% over the same period to $83.1B.

Ethereum-based DeFi protocols surpass the sector's average, boosting TVL by 18% since July 13. Ethereum's $52.6B TVL is 58% of the total.

Binance Smart Chain, Avalanche, and Solana have contributed between 9.5% and 11.5% to their TVLs over the same period. L2beat estimates Ethereum Layer 2s are worth $4B after increasing 11% in five days.

Tron is the only significant network to grow in July, from $4B to $5.86B. JustLend, a Tron-based money market protocol, has increased 120 percent to $3.3B TVL since June, representing 57% of the network's locked value.