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Aave Achieves Record $50 Billion in Net Deposits

Aave Achieves Record $50 Billion in Net Deposits

Aave has become the first DeFi lending protocol to surpass $50 billion in net deposits, a milestone highlighted by the project’s founder, Stani Kulechov.

“This is an important moment for the entire DeFi ecosystem. We are moving towards trillions,” he wrote.

Kulechov also noted that Aave’s infrastructure is attracting more TradFi companies. In March, the project team launched the Horizon initiative to integrate Real World Assets (RWA) into DeFi. According to him, institutional interest is helping the protocol grow.

Another factor is the historical correlation of lending with market phases. In recent days, Bitcoin has reached several price records, pulling the rest of the crypto market along with it.

According to DeFi Llama, at the time of writing, Aave’s total value locked (TVL) is also at a peak of $29.8 billion, having increased by 45% since the beginning of the year.

Aave Achieves Record $50 Billion in Net Deposits
TVL Aave. Data: DeFi Llama.

Alongside the ecosystem, its native token, AAVE, is also growing. According to CoinGecko, its price has increased by 6.8% in the last 24 hours. At the time of writing, the coin is trading above $320.

Aave Achieves Record $50 Billion in Net Deposits
Daily chart AAVE/USDT on Binance. Data: TradingView.

As reported by Santiment, they announced the start of altseason. However, analysts warned of several alarming signals.

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