Aave reached a TVL record of 41.1 billion USD, equivalent to the 54th largest bank in America.

Aave has just recorded its highest total value locked (TVL) in history at 41.1 billion USD on August 24, placing this decentralized lending protocol equivalent to the 54th largest commercial bank in America when compared to total deposits according to data from the Federal Reserve (Fed) as of June 30.

Accordingly, Aave will surpass Prosperity Bank ( with 3.4 billion USD in deposits) and only need 300 million USD to surpass Bank OZK. With a total of 2,156 commercial banks in America, Aave's scale is sufficient to be in the top 2.5% of the largest banks in the country.

Data from DefiLlama shows that if we include the outstanding loan of Aave worth 28.9 billion USD on 24/8(, the aggregated figure will reach 71.1 billion USD, just below the record of 29.1 billion USD set on August 13. At this level, Aave would rank alongside the 37th largest bank in America, within the top 1.7%.

Aave founder, Stani Kulechov, shared on social media on August 24:

Maintain Dominance in DeFi Lending

As of August 24, Aave controls about 50% of the total TVL of the DeFi lending market, holding a dominant position in the sector worth 81.5 billion USD. This figure is equivalent to the TVL of all other lending protocols combined. Aave is currently nearly 6 times larger than its closest competitor, Morpho, with )7 billion USD in deposits (.

Last week, Aave set records continuously thanks to the strong performance of the DeFi lending sector. This protocol reached 3 trillion USD in total accumulated deposits on August 15 and surpassed 29 billion USD in active loans on August 13.

The AAVE token also reflects this growth: from a low of 114 USD on April 8, the price has increased by more than 177% to 320 USD at the time of writing.

The main driver for Aave's expansion comes from institutional adoption. Nasdaq-listed BTCS is using Aave to generate yield on its held Ethereum. Additionally, 6.4 billion USD of Ethena's USDe stablecoin and related assets are also deposited on the platform.

These records show that Aave is evolving into a standard organizational financial infrastructure, capturing market share as traditional financial institutions integrate decentralized lending services into their operations.

Thạch Sanh