Aave and Lido Exceed $70B in Combined Net Deposits, Leading the DeFi Ecosystem

Anna Martynova

Aave and Lido have collectively surpassed $70 billion in net deposits for the first time in history, according to Token Terminal. Aave leads the way with $34.3 billion, slightly ahead of Lido Finance at $33.4 billion. The two protocols together account for 75.25% of the $89.52 billion allocated to the top five decentralized apps, the highest ever in December 2024.

The two projects together account for 45.5% of the total funds allocated among the top 20 DeFi apps, accounting for $67.42 billion of the $148 billion in total net deposits in the sector. LDO leads the way in total value locked at $33.8 billion, followed by AAVE at $20.6 billion. Overall, the DeFi sector has seen growth, with TVL up 107% year-to-date, peaking at $212 billion on December 16, marking the first time the value has surpassed $200 billion.

The revenue dynamics also demonstrate the strength of these protocols. AAVE has earned $12.5 million in the last 30 days, up 27.5%, while LDO has reached $9.6 million, thanks to a 24% increase in the platform. Beyond deposits, the DeFi ecosystem has also seen record trading volumes on decentralized exchanges, reaching nearly $380 billion in volume during November, according to TheBlock. The DeFi lending market has also seen significant growth, with current loans reaching $21 billion in December.

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