Aave Breaks Records, Demonstrating DeFi’s Rapid Growth

In a whirlwind of activity for decentralized finance (DeFi), Aave has shattered records this week. On August 15th, the protocol surpassed $3 trillion in lifetime deposits and hit an impressive $29 billion in active loans just two days prior. Aave’s total value locked (TVL) also reached a new all-time high of over $40 billion. This surge is driven by DeFi lending taking center stage as the second-largest sector, accounting for more than $75 billion across over 500 protocols. Active loans now stand at a record-breaking $43 billion across the entire industry.