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Decentralized finance protocol Aave has reached an all-time high in its net deposits. With total deposits rising to $31.4 billion, Aave has surpassed many commercial banks in the United States. Deposits have increased by 50% in just one month, rising from $20.9 billion in early November. This growth has strengthened Aave’s market position and attracted significant attention in the decentralized finance space.
Liquid deposits increase by 50%👀
Over the past 30 days, Aave has secured $10.4 billion in net deposits from its users. This increase indicates a growing demand for the lending and borrowing 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 increase marks a pivotal moment that solidifies Aave’s leadership in the industry.
Aave’s native token, AAVE, has also gained value alongside the surge in net deposits. The token has increased by 14% in the past 24 hours and 69% in the past month, currently trading at $234. According to data from CoinGecko, AAVE’s market cap has reached approximately $3.5 billion, indicating strong market interest in both the protocol and its token.
Management changes on the horizon🤑👻
The Aave community continues to discuss a proposal that envisages significant changes to its governance structure. The proposal aims to distribute rewards generated by Aave’s revenue to token holders. The proposal, which underwent a temperature check in July, is now undergoing a more detailed evaluation process. In this context, AAVE holders can formalize the proposal through on-chain voting.
Stani Kulechov, the founder of the protocol, stated on X: “Aave is growing faster than ever.” This growth is seen as a significant milestone that increases Aave's market influence while also being crucial to the future of decentralized finance.
Achieving $31.4 billion in net deposits not only signifies success, but also serves as evidence of the platform’s strong position in the world of decentralized finance. Developments such as rising token prices and impending governance changes indicate that Aave’s growth is likely to continue.
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$AAVE
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