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Aave reached an all-time precocious full worth locked (TVL) of $41.1 cardinal connected Aug. 24, positioning the decentralized lending protocol arsenic the equivalent of the 54th largest US commercialized slope by full deposits based connected Federal Reserve data arsenic of Jun. 30.
The wealth marketplace protocol would regenerate the Prosperity Bank, which has $38.4 cardinal successful deposits, and would autumn conscionable $300 cardinal abbreviated of surpassing Bank OZK.
Considering the Fed lists 2,156 commercialized banks successful the US, Aave’s size is capable to spot it among the apical 2.5% largest banks successful the country.
DefiLlama data showed that including Aave’s outstanding borrows of $28.9 cardinal arsenic of Aug. 24 would rise the combined fig to $71.1 billion. The borrowing measurement was conscionable beneath the all-time precocious of $29.1 cardinal recorded connected Aug. 13.
The TVL accrued by the borrows would beryllium capable to spot Aave among the 37th largest US commercialized banks, a 1.7% group.
Aave laminitis Stani Kulechov said successful an Aug. 24 societal media post:
“Aave Protocol is similar the 37th-largest bank, but it isn’t a bank, but a web immoderate fiscal instauration tin plug into to unlock non-Fed–correlated yield.”
Dominance successful lending
The wealth marketplace protocol controlled astir 50% of the DeFi lending market’s full TVL arsenic of Aug. 24, commanding a ascendant presumption wrong the $81.5 cardinal lending sector.
The percent indicates that Aave’s TVL is equivalent to the combined TVL of each different wealth markets. The protocol is astir 6x larger than its closest rival, Morpho, which holds conscionable $7 cardinal successful deposits.
Aave achieved multiple records past week amid beardown DeFi lending assemblage performance. The protocol reached $3 trillion successful cumulative deposits connected Aug. 15 portion surpassing $29 cardinal successful progressive loans connected Aug. 13.
The AAVE token is pursuing the protocol’s fundamentals. Since signaling a debased of $114.05 connected April 8, the token has climbed implicit 177% to $316.74 arsenic of property time.
Institutional adoption drives the protocol’s expansion, with Nasdaq-listed BTCS utilizing Aave to make output connected Ethereum holdings. Additionally, $6.4 cardinal of Ethena’s USDe stablecoin and related assets are deposited connected the platform.
The aggregate records show Aave’s improvement into institutional-grade fiscal infrastructure, capturing marketplace stock arsenic accepted concern institutions integrate decentralized lending services into their operations.
The station Aave reaches $41.1 cardinal TVL record, equivalent to being the 54th largest US bank appeared archetypal connected CryptoSlate.
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