Aave, a leading DeFi protocol, reached records in total value locked and fees in August 2025, despite a decrease in the price of its AAVE token.
Records in Aave Metrics
Aave achieved a new all-time high in total value locked (TVL) of $41.1 billion on August 24, 2025, doubling the metric since the beginning of the year. As of September 1, the TVL stood at $39.2 billion. The protocol also registered record fee collections of $91.4 million in August 2025, surpassing the previous peak of $88.7 million from December 2024.
Growth in DeFi Usage
The number of active loans reached $43 billion in August, indicating strong demand for on-chain leverage. Monthly spot trading on decentralized exchanges reached $506.3 billion, marking an 18.4% increase from July. Protocols like Aave benefit directly from this rise as users leverage their tokens to access stablecoins for trading.
Disconnect Between Token Price and Performance
Despite Aave's achievements in metrics, the AAVE token traded at $309.84, representing a 22.5% discount from its December 2024 peak of $399.85. This disconnect between protocol performance and token valuation suggests potential undervaluation. Analysts believe that Aave is well-positioned to capture part of the rotating liquidity.
The results and achievements of Aave in August 2025 highlight the growing interest in DeFi products, despite current market conditions, and may indicate potential for price recovery of the token.
