Euler, an Ethereum-based lending protocol, is experiencing a resurgence after a prolonged period of inactivity. The protocol's total value locked (TVL) in its version 2, launched in August, reached a record $77.3 million on November 18, as reported by DefiLlama.

Beginning the month at $14 million, Euler's TVL has increased by over 500% in the past month, marking it as a top-performing decentralized application (dapp) on Ethereum and within the decentralized finance (DeFi) sector.

Despite past challenges, including a significant hacking incident, the launch of Euler v2 has revitalized the platform, now holding more than 99% of its TVL.