Aave reached $30.5 billion in active loans on September 18, representing 65% of total active loans on decentralized protocols. It controls a total locked value (TVL) of $42 billion, making it the largest TVL DEFI protocol. The protocol generated $24.6 million in fees in the last seven days, ranking third in weekly cost generation among purely decentralized protocols, behind Uniswap. Aave’s advantages in yield compared to traditional banks attract significant capital. USDC deposits earn 5.76% APY through Aave, significantly exceeding traditional bank averages.
Aave’s growth in active loans indicates that crypto investors prefer decentralized protocols for leverage and yield, with Aave playing a significant role in this sector. Aave’s presence in the market is substantial, with its dominance in active loans and fees generated showcasing its influence in the DEFI space.
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