Unichain Bridged TVL Surges Past $250M

Per dashboard by Obchakevich Research, bridged TVL on Unichain has surged past $250M—with $200M in ETH alone—following the launch of a liquidity mining campaign on April 15. Led by Gauntlet under the Uniswap Unleashed proposal, the campaign is distributing $5M in $UNI rewards across 12 Uniswap v4 pools to accelerate adoption. The $200M+ growth in less than ten days suggests strong demand for incentivized liquidity—and signals Unichain’s potential to quickly establish itself as a competitive DeFi hub within the Superchain ecosystem.

Garden Finance Bridges $1.2B in BTC

Garden Finance is emerging as a key player in BTC bridging, enabling trustless swaps in under 30 seconds through an intents-based architecture. According to its Dune dashboard, Garden has facilitated 22,024 BTC in volume (over $1.2B) across 31,415 atomic swaps, collecting 35 BTC in fees. Swap and user growth has accelerated in April, with Ethereum leading volume and Arbitrum activity. Garden reflects the rising momentum of BTCFi—bringing liquidity, programmability, and onchain utility to Bitcoin’s traditionally idle capital.

Coinbase Boosts PYUSD Adoption

PayPal and Coinbase are expanding their partnership to boost adoption of PYUSD, enabling fee-free trading, 1:1 redemptions, and exploring new use cases across payments and DeFi. Per Hashed’s dashboard, PYUSD supply has doubled since January to $740M. Daily users have tripled to 900+, transactions are up 5x to 5,000/day, and daily volume often exceeds $200M—with a clear growth trend. The move brings PYUSD deeper into Coinbase’s retail and institutional ecosystem, further accelerating its momentum across both traditional and onchain rails.

GHO Expands Utility and Surges to $220M

GHO, Aave’s overcollateralized stablecoin, has grown 349% YoY, with supply surpassing $220M, Aave Labs' dashboard shows. In April alone, holders rose from 1K to 4.2K, and daily transfer volume now frequently exceeds $50M. Curve and Balancer lead DEX activity. Recent growth is driven by GHO’s role as the gas token on Lens Chain, and the integration of Ripple’s RLUSD into Aave V3, expanding GHO’s utility. The latest move—a USR/GHO pool on Balancer (Base)—introduces Resolv’s StableSurge Hook, paired with GHO rewards, Aave boosts, and Resolv points. With growing utility across DeFi, payments, and social, GHO is emerging as a leading decentralized stablecoin in an increasingly interconnected ecosystem.

Helium New Subscribers Peak Amid AT&T Integration

On April 24, Helium announced a major integration with AT&T, enabling subscribers to connect to its decentralized Wi-Fi network at thousands of locations across the US. Per Slice Analytics' dashboard, the Helium Network now supports over 70K nodes and 187K subscribers across Mobile and IOT products. Adoption is accelerating—over 11.3K new subscribers joined this week, setting a new all-time high with several days still to go. As traditional carriers look for scalable, cost-efficient infrastructure, Helium’s decentralized model offers a compelling path forward—and a powerful gateway for bringing the next wave of users onchain.

Nothing in this newsletter constitutes financial advice.

Always do your own research.

Dune Digest is all about cutting through the noise and surfacing the most relevant on-chain trends. If you have insights, dashboards, or data-driven stories that belong in the Digest, drop your suggestions here.

The data must flow.

Dune Team

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