With top-10 DeFi lending protocol Euler Finance reaching new all-time high valuations, the EUL token is soaring right alongside it, and reached a new all-time high price and market capitalization as of today, July 10.
EUL is at a fresh high of $15 today, which is more than 950% above its 2023 lows of $1.48, which came shortly after the protocol was hacked, sending its TVL at the time to below $100,000.
Today, EUL is 20% higher than its previous all-time high of $12.34 in September 2022, but its market capitalization is up 200% from that period, due to the token price rising alongside its token unlocks. Current market cap is approaching $300 million.
EUL market cap. Source: CoinGecko
The move is led by Euler’s parabolic rise in key metrics such as TVL, which is up to $1.18 billion, nearly a 30,000% increase since its re-launch in September 2024. This new record in TVL is also 265% higher than its pre-hack TVL high of $323 million in 2022.
Euler Finance is currently ranked as the ninth-largest lending protocol by TVL, per DeFiLlama data.
TVL on Euler Finance. Source: DeFiLlama
The protocol also saw its active loans surge above $1 billion at the end of last month, up from $24 million in Q4 2024.
Euler has also launched a number of new activations in 2025, including a stablecoin lending infrastructure, and its own native DEX, EulerSwap. Total trading volume on EulerSwap has also broken past $1 billion since its launch in late May, per Token Terminal data.