Stabull's recent growth can be attributed to its use as an invisible infrastructure in DeFi, rather than just its UI-driven swaps. The protocol's design choice of using oracle-anchored pricing has allowed it to become a reference point for correction when prices drift on other venues, making its liquidity useful not just for direct swaps, but also as part of broader execution paths across DeFi.
The key distinction is between visible activity and invisible infrastructure usage. While UI swaps are easy to see and understand, infrastructure usage is quieter but ultimately more important. It is how DeFi protocols mature from destinations into building blocks, and Stabull is now clearly entering this second phase.