
Money market Aave and liquid staking protocol Lido surpassed $70 billion in net deposits for the first time in December, according to facts from TokenTerminal.
At the time of writing, the top two DeFi protocols total $67.42 billion.
Aave leads with $34.3 billion in deposits, just $1.1 billion higher than Lido. The net deposits targeted at these two DeFi heavyweights represent 45.5% of the $148 billion allocated to the top 20 decentralized applications.
However, in terms of Total Value Locked (TVL), Lido leads the DeFi ecosystem with $33.8 billion, while Aave comes in second with $20.6 billion. Net deposits represent the total deposited into a DeFi protocol, excluding fees and synthetic tokens, while TVL is the total allocated to all assets.
Moreover, Lido and Aave are among the best DeFi applications in terms of monetization. Over the past 30 days, Aave’s revenue grew 27.5% to $12.5 million, making it the tenth largest protocol.
Meanwhile, Lido recorded $9.6 million in monthly revenue, fueled by a 24% growth rate, securing the twelfth largest DeFi application by revenue.
DeFi revival
The DeFi ecosystem has achieved strong performance in 2024. The total of the sector TVL rose 107%, reaching $185 billion at the time of writing and peaking at $212 billion on December 16. This is the first time the TVL has crossed the $200 billion threshold.
Other Statistics Trading volume of decentralized exchanges reached new records on daily, weekly and monthly timescales. According to data from DefiLlama, these protocols were worth almost $380 billion in November.
Furthermore, according to data versus The Block, the ratio of decentralized to centralized exchanges reached 13.9% in October, the second highest level in history.
The lending market also grew, with active loans peaking at nearly $21 billion this month, the highest monthly number. This trend suggests that more users are comfortable using financial resources in the chain.
Additionally, the growth of active lending has also contributed to the size of the stablecoin market, which is nearly $200 billion, according to Artemis. facts. Users use their crypto holdings as collateral and borrow stablecoins, adding liquidity to their inventory and increasing their exposure to crypto.