AAVE commands $61.2B TVL in decentralized lending, nearly 8x larger than nearest competitor Morpho at $7.8B.
But the real momentum is happening beneath the surface with actual lending activity.
Active loans tell the growth story:
- Surged 260% over the past year to $27.1B
- Strong acceleration since Q2 2025, climbing from ~$10B to current levels
- Consistent weekly growth trajectory maintained throughout 2025
This reflects sustainable DeFi lending growth with more borrowers joining, increased capital deployment, and greater real utility across established protocols.
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