The Aave protocol has recently surpassed significant milestones in decentralized finance (DeFi), establishing new records for deposits and active loans.
Aave's Achievements in DeFi
On August 15, Aave reported crossing $3 trillion in lifetime deposits and surpassing $29 billion in active loans just two days earlier. The total value locked (TVL) in Aave also reached a new all-time high of over $40 billion.
Growth of the Lending Sector
The lending sector in DeFi is solidifying its position as the second-largest category, with over $75 billion locked across more than 500 protocols. Lending has grown nearly 19% over the past month, with active loans hitting a record of $43 billion.
Aave's Market Position
Aave commands a dominant position in the market, controlling about two-thirds of the total volume. Over the last 30 days, Aave's TVL has increased by 26%, while loan activity has surged almost 40%. By deposit size, Aave now ranks alongside major commercial banks in the United States.
With these results achieved in just one month, Aave is solidifying its status as a significant player in the financial market, comparable to traditional banks.
