EUL Price Holds Strong Above $10 as Euler Protocol Exceeds $2B in Borrows

EUL Price: Riding the DeFi Wave Above $10

The buzz around Euler (EUL) is real, folks. Even with a slight dip of about 3% recently, the EUL price is holding its own above that key $10 mark. Why? Because this decentralized finance (DeFi) protocol just hit a major milestone: over $2 billion in total borrows. That's a whole lotta cheddar!

Euler's Bullish Momentum: $2 Billion Borrow Milestone

Last week, the EUL price peaked at $11, then took a breather. But as the big-name coins started pumping, EUL bounced back from under $8.80 to test that psychological $10 level again. On October 7, 2025, we saw highs of $10.80 before Bitcoin and Ethereum decided to chill out a bit. Currently, EUL price is hovering just above the critical support zone.

DeFi Superapp: Euler's Explosive Growth

The Euler Labs team is calling their Ethereum-based protocol a DeFi superapp. And with $2 billion in cumulative borrows, it’s not hard to see why. According to Euler Labs, a whopping $871 million of that is on Ethereum. Plus, total deposits have reached $4 billion, with $1.77 billion on Ethereum. Revenue also increased by nearly 100% in Q3, 2025.

Plasma's Rocket Ride on Euler

Plasma, a stablecoin rails platform, is making waves as one of the fastest-growing protocols. This layer-1 blockchain boasts over $5.5 billion in stablecoin supply and has teamed up with Chainlink to fuel even more growth. Get this: Plasma has seen over $1 billion in total deposits on Euler in under 10 days since its launch.

Capital Efficiency and Utilization

Euler Labs also pointed out that the $4 billion in deposits have a utilization rate of 48%. That means nearly half of all the money sitting in Euler is being actively used. That's some serious capital efficiency!

Final Thoughts: Bullish on Euler?

Euler's growth and resilience are undeniable. Surpassing $2 billion in total borrows is a huge achievement, and the integration of platforms like Plasma only adds to its appeal. As long as Euler continues to innovate and adapt, the future looks bright for this DeFi contender. So, keep an eye on that EUL price – it might just surprise you. And remember to always DYOR!