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#OnChainLendingSurge The on-chain lending market has recently achieved a significant milestone, with total active loans surpassing $20 billion, exceeding the previous peak set in December 2021. Aave, a prominent decentralized finance (DeFi) platform, has been instrumental in this growth. As of August 2024, Aave reached approximately 40,000 active weekly borrowers, setting a new record. This surge is largely attributed to the emergence of new lending markets, including Base and Scroll, which have driven growth on the platform. Aave operates across multiple blockchain networks, offering overcollateralized loans through automated smart contracts. With a total value locked (TVL) of around $11.85 billion, Aave ranks as the third-largest DeFi protocol. The platform's expansion reflects a broader trend of increasing adoption of decentralized financial services, highlighting the growing significance of DeFi in the cryptocurrency ecosystem. This upward trajectory in on-chain lending underscores the evolving landscape of digital finance, with platforms like Aave leading the way in providing decentralized lending solutions. Look to the candlestick$AAVE
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