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Aave's weekly active borrowers reach approximately 40,000, a record high

CointimeCointime2024/08/15 04:42
By:Cointime

On August 15th, according to Cointelegraph, decentralized finance protocols seem to be showing signs of recovery, with the Aave lending platform setting a new record for weekly active borrowers. Aave founder Stani Kulechov reported in an August 14th post that the protocol had approximately 40,000 weekly active borrowers, surpassing the previous high set at the end of 2022.Data shows that this trend is being driven by emerging lending markets such as Base and Scroll. According to Dune Analytics, Base currently accounts for nearly 30% of the total independent wallets on Aave V3. Layer2 platforms Arbitrum and Polygon come in second and third, with Aave wallet shares of 23.4% and 21%, respectively.At the same time, Kulechov noted that the platform's weekly depositors have almost reached peak levels. According to Dune Analytics, the number of Aave (AAVE) depositors surged at the beginning of this month. Additionally, the total value locked (TVL) in the entire DeFi ecosystem has grown 40% to reach $90 billion so far this year. However, recent market adjustments have hit it hard.

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