Decentralized finance protocol Aave has achieved a historic high with a significant increase in net deposits. The platform’s total deposits increased by 50% in just one month, reaching $31.4 billion. This growth sets Aave apart from its competitors in the industry, while also surpassing the deposit volume of many commercial banks in the US. Deposits reached $20.9 billion in early November, gaining significant momentum in a short time.
In the past month, Aave’s net deposits have increased by $10.4 billion. Demand for the platform’s lending and borrowing services has skyrocketed. Marc Zeller, founder of the Aave Chan Initiative, said this growth is equal to the total size of lending protocols. This development solidifies Aave’s leadership in the industry.
Aave’s native token, AAVE, has also gained value along with this growth. The token has increased by 14% in the last 24 hours and 69% in the last month. Currently trading at $234, AAVE’s market value has increased to $3.5 billion. According to this data, both investors and users are showing great interest in the Aave ecosystem.
The Aave community continues to discuss significant changes to the platform’s governance structure. A proposal that would distribute revenues as rewards to token holders has gained support from the community and is currently under review. This change could be approved through on-chain voting, adding a new dimension to Aave’s governance model.
Aave founder Stani Kulechov, drew attention to the platform’s growth rate and emphasized that it has gained an important place in the world of decentralized finance. The increase in deposit levels and token prices, combined with administrative innovations, further increases the importance of the protocol.
Aave’s total deposits of $31.4 billion are not only a sign of success, but also a testament to the platform’s solid foundation in the decentralized finance space and its impact on the market. Positive movements in token value and governance reforms reinforce the protocol’s strong position in the future.