This week whales have shown renewed interest in crypto, positioning themselves for the next potential altcoin rally through “strong buy walls” on future altcoin demand.

The decentralized finance (DeFi) space is also experiencing a revival. Active DeFi loans surpassed $13.3 billion, a level not seen since 2022.

CryptoQuant founder Ki Young Ju thinks crypto whales are positioning themselves in anticipation of the next altcoin rally and traders are in intense debate about when the altcoin season will begin.

Ju’s analysis examined the one-year cumulative bid/ask bid volume difference for altcoins. This metric measures the difference between buy and sell limit orders for one year.

The analyst noted that whales prefer limit orders to prevent losses, and the rise in the metric indicates increased buy-limit orders among large crypto investors and institutions. This represents “strong buy walls” for future altcoin demand.

DeFi is experiencing a revival, with key metrics such as active loans and total value locked (TVL) increasing since lower levels in 2023.

Crypto market analysis platform Token Terminal made a statement in a post on X on July 31, saying, “DeFi is waking up again.” He supported this claim with graphs and statistics, such as active loans returning to levels not seen since the beginning of 2022, approximately $13.3 billion.

Decentralized finance protocol Morpho Labs raised $50 million after the latest revamp of its business model. This investment round was led by Ribbit Capital with participation from a16z Crypto, Coinbase Ventures, Variant, Pantera Capital, Kraken Ventures and other investors.

Morpho Labs had previously raised $23.6 million in multiple financing rounds, including an $18 million Series B financing round by a16z and Variant in 2022.

The funds raised will be used to support Morpho Blue, a decentralized permissionless lending protocol. This protocol offers the opportunity to create and manage markets without obtaining approval from any central authority. The solution also offers vaults that can be customized with specific risk management parameters.

The Terra blockchain announced that it will be temporarily paused at block height 11430400 and user transactions will not be processed during this time. According to Terra’s official will take steps to correct the abuse.

An Decentralized finance (CeFi) assets continue to be the biggest target of cryptocurrency hackers in 2024.

Deddy Lavid, co-founder and CEO of Web3 security firm Cyvers, stated that more than 70% of funds lost through cryptocurrency hacks were stolen from CeFi assets.

The CEO said CeFi assets account for around 70% of both the amount of funds lost and the amount of abuse. According to TradingView data, most of the top 100 cryptocurrencies by market cap remained in the red throughout the week.

From the top 100, Base-native meme token Brett (BRETT) experienced the largest decline of over 55% on the weekly chart, while Solana-based memecoin Dogwifhat (WIF) saw a decline of over 54%.