Wormhole, a cross-chain protocol, has successfully reclaimed a Total Value Locked (TVL) of $1 billion, showcasing a strong recovery in the decentralised finance (DeFi) sector.

This rebound is a notable resurgence from its low of $234 million earlier in the year.

In a related development, the Hedera Global Governing Council has allocated roughly $408 million, or 4.86 billion of its native token HBAR, for ecosystem growth and development.

This funding is aimed at enhancing decentralised governance and supporting various initiatives.

These events mark significant milestones in the evolving landscape of DeFi and blockchain technology.