The decentralized finance protocol Aave has reached a historic level in its net deposits. With total deposits soaring to $31.4 billion, Aave has surpassed many commercial banks in the United States. Deposits increased by 50% within just one month, rising from $20.9 billion at the beginning of November. This growth has strengthened Aave’s market position and attracted significant attention in the decentralized finance space.

Net Deposits Increase by 50%

In the last 30 days, Aave has secured $10.4 billion in net deposits from its users. This increase indicates a rapidly rising demand for the borrowing and lending services offered by the protocol. Marc Zeller, founder of the Aave Chan Initiative, highlighted the growth, stating, “Aave’s growth this quarter is equal to the total growth of all lending protocols.” This surge has marked a pivotal moment that solidifies Aave’s leadership in the sector.

Aave’s native token, AAVE ($179.88), has also gained value alongside the rise in net deposits. The token increased by 14% in the last 24 hours and 69% over the past month, currently trading at $234. According to CoinGecko data, AAVE’s market capitalization has reached approximately $3.5 billion, indicating strong interest from the market in both the protocol and its token.