Aave reached an all -time with high total value (TVL) of $ 41.1 billion on 24 August, with the positioning of the decentralized credit protocol as equivalent of the 54th largest US commercial bank by total deposits based on Federal Reserve based on Federal Reserve based on Federal Reserve based on Federal Reserve based on Federal Reserve based on Federal Reserve Data from 30 June.
The money market protocol would replace the Welfare Bank, which has $ 38.4 billion in deposits, and would only fall $ 300 million in surpassing the bank OZK.
Given the FED, 2,156 commercial banks in the US mentions, the size of Aave is sufficient to place it in the top 2.5% largest banks in the country.
Defillama facts showed that the outstanding loans of Aave of $ 28.9 billion from 24 August would increase the combined figure to $ 71.1 billion. The loan volume was just below the all time of $ 29.1 billion registered on August 13.
The TVL increased by the loans would be sufficient to place a 37th largest American commercial banks, a group of 1.7%.
A founder Stani Kulechov said in a social media of 24 August after:
“An Aave protocol is like the 37th largest bank, except that it is not a bank, but a network that can connect any financial institution to unlock non-nourished revenue.”
Dominance in loans
The money market protocol checked approximately 50% of the total TVL of the Defi -credit market from 24 August, with a dominant position within the $ 81.5 billion sector.
The percentage indicates that the Aave TVL is equal to the combined TVL of all other money markets. The protocol is almost 6x larger than its closest rival, Morpho, who owns only $ 7 billion in deposits.
Aave achieved several records in the midst of strong performance from the Defi Credit sector last week. The protocol reached $ 3 trillion on cumulative deposits on 15 August while on 13 August he surpassed $ 29 billion in active loans.
The Aave -Token follows the basic principles of the protocol. Since the recording of a low of $ 114.05 on 8 April, token has risen more than 177% to $ 316.74 from the moment of the press.
Institutional adoption stimulates the expansion of the protocol, with Nasdaq-granted BTCs using Aave to generate yields on Ethereum Holdings. In addition, $ 6.4 billion in Ethena’s used stablecoin and related assets are deposited on the platform.
The multiple records show the evolution of Aave in financial infrastructure of institutional quality, whereby the market share is recorded as traditional financial institutions that integrate decentralized lending into their activities.