Leading decentralized finance (DeFi) protocol Aave has achieved a remarkable milestone, hitting $10 billion in active loans.<\/p>\n
It marks a 300% rise in lending activity from the start of the year when the figure stood at $3.4 billion.<\/p>\n
Data from the on-chain DeFi tracking platform Token Terminal shows<\/a> that in the last 30 days, active loans on the platform increased by 16.4% to reach $10.04 billion. At the same time, its total value locked (TVL), which is the overall value of crypto deposited on the protocol, went up by 26.7% to $15.96 billion.<\/p>\n Looking at other metrics, fees are up 48% to $40.34 million, annualized to over $490 million, which is a 33% improvement over the last 30 days. This has pushed monthly revenue by 82% to $9.36 million. Similarly, annualized revenue projections now stand at $113.84 million.\u00a0This uptick has boosted Aave\u2019s earnings, which have increased 1,628% over the last 30 days.<\/p>\n Additionally, there are currently nearly 173,000 token holders, a slight 0.9% increase from the previous month. The figure has been boosted by a more than 40% increase in daily active users in that period, numbering over 6,200 per day and nearly 30,000 per week.<\/p>\n As noted<\/a> by Aave founder Stani Kulechov, the protocol\u2019s explosive growth is a reflection of DeFi\u2019s broader \u201crenaissance.\u201d<\/p>\n Beyond its core lending activities, Aave is looking to explore new frontiers, including a possible deployment on Spiderchain, a Bitcoin layer-2 network designed by Botanix Labs. The potential integration would combine Bitcoin\u2019s deep liquidity with Aave\u2019s lending ecosystem, enabling Ethereum-based applications to interact with BTC assets.<\/p>\n According to reports, the Aave-Chain Initiative (ACI) is currently seeking feedback from its community on the proposal. If successful, it could further solidify the platform\u2019s leadership within DeFi.<\/p>\n In October, President-elect Donald Trump\u2019s fledgling DeFi project, World Liberty Financial (WLF), issued a proposal<\/a> to Aave to establish an instance on the platform. The proposal contained an offer of 20% of all protocol fees as well as 7% of the supply of WLF\u2019s governance token, WLFI.<\/p>\n In the same month, Aave saw a rise<\/a> in deposits of Coinbase\u2019s wrapped Bitcoin offering, cbBTC, with 56% of the cryptocurrency housed there.<\/p>\n However, despite the platform\u2019s latest triumph, its native AAVE token is 3.4% below its level from 24 hours ago. Additionally, across seven days, it lost over 12% of its value, reflecting a marked underperformance against the global crypto market, which is up 4.90%.<\/p>\n Nonetheless, over the last three months, AAVE has been up 31.7% while also gaining a whopping 81% in the last six months.<\/p>\n The post Aave\u2019s Loan Volume Triples YTD, Currently Exceeds $10B<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Leading decentralized finance (DeFi) protocol Aave has achieved a remarkable milestone, hitting $10 billion in active loans. It marks a 300% rise in lending activity from the start of the year when the figure stood at $3.4 billion. DeFi Renaissance Data from the on-chain DeFi tracking platform Token Terminal shows that in the last 30 […]<\/p>\n","protected":false},"author":0,"featured_media":22107,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-22106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/22106"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22106"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/22106\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/22107"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Aave\u2019s Expanding Ecosystem<\/h2>\n