According to BlockBeats, the price of EUL, the native token of Euler Finance, experienced a surge on February 22, possibly due to the news of the upcoming relaunch of the lending protocol. The token's price reached $4.97 before falling back to $4.82, marking a 24-hour increase of 14.3%.
Euler Finance is a decentralized lending platform that aims to provide users with a secure and efficient way to lend and borrow digital assets. The relaunch of the platform is expected to bring improvements and new features, which could be the driving force behind the recent price increase of EUL.
As the DeFi sector continues to grow, lending protocols like Euler Finance play a crucial role in the ecosystem, providing users with various financial services and opportunities. The upcoming relaunch of Euler Finance could further strengthen its position in the market and attract more users to its platform.