The leading DeFi protocol Aave has reached the notable milestone of $10 billion in active loans, a 300% increase from $3.4 billion at the start of the year.
Data from the on-chain DeFi tracking platform Token Terminal shows that the active loans on Aave have increased by 16.4% in the past 30 days, reaching $10.04 billion. Additionally, the Total Value Locked (TVL) on this protocol has increased by 26.7% to $15.96 billion.
Examining other metrics, the transaction fees have increased by 48%, reaching $40.34 million, driving the monthly revenue to increase by 82% to $9.36 million, leading to a projected annual revenue of $113.84 million. This growth has propelled Aave's earnings, increasing by 1,628% in the past 30 days.
Furthermore, the number of AAVE token holders has now reached nearly 173,000, a slight increase of 0.9% from the previous month. This growth is primarily driven by a more than 40% increase in the number of daily active users during this period, reaching over 6,200 daily users and close to 30,000 weekly users.
Aave founder Stani Kulechov noted that this remarkable growth is a signal of the "renaissance" of the broader DeFi ecosystem.
In addition to its core lending activities, Aave is working to expand and explore new opportunities, including the potential deployment on Spiderchain, a Bitcoin Layer 2 network designed by Botanix Labs. This integration would combine the deep liquidity of Bitcoin with Aave's lending ecosystem, allowing Ethereum-based applications to interact with BTC assets.
The Aave-Chain Initiative (ACI) is currently seeking community feedback on this proposal. If successful, it could further strengthen the platform's leading position in DeFi.
In October, the young DeFi project of President-elect Donald Trump, World Liberty Financial (WLF), proposed to establish a version on the platform. The proposal includes a request for 20% of all protocol fees as well as 7% of the WLF Governance Token supply.
In the same month, Aave witnessed an increase in the deposits of Wrapped Bitcoin from Coinbase's cbBTC, with 56% of the total cryptocurrency held here.
Despite these significant achievements, the AAVE price has decreased by more than 4.7% in the past 24 hours and lost 8.9% in the past 7 days, reflecting a significantly weaker performance compared to the overall cryptocurrency market, which has increased by 4.9%.
However, over the past 3 months, AAVE has recorded a growth of 31.7% and a strong increase of 81% in the past 6 months.
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Minh Anh
According to CryptoPotato
