- DeFi platform Aave has registered over $40 billion in total value locked (TVL)
- Aave said the amount is the highest to be recorded by a DeFi platform
- Uniswap also recently recorded $3 trillion in all-time trading volume
DeFi protocol Aave has registered more than $40 billion in total volume locked (TVL) on-chain, which it said is the first among DeFi platforms. Aave disclosed that deposits have increased since the start of 2024, revealing that the $40 billion is “4X higher” than the $10 billion in net deposits record in early 2024. The protocol’s native token, GHO, has also experienced a 6X spike in total supply to over 250 million in slightly over a year, indicating that the platform is attracting more usage.
Horizon and Aave DAO Contributed to TVL Rise
According to Aave, the rise in TVL is due to various factors such as the launch of Horizon, an initiative meant to popularize DeFi among institutional users, and “ongoing efforts by the Aave DAO.”
New week, new all-time high.
$40.3 billion net deposits
The highest TVL ever reached by a DeFi protocol. pic.twitter.com/XBRnruemQz
— Aave (@aave) May 12, 2025
It also said that its expected protocol iteration, Aave V4, has played a role in attracting more people to the platform. Aave noted that the number of users and deposited amount is set to increase because “there’s much more to come” in terms of major initiatives.
According to DeFi analyst Jonaso, Aave’s new milestone shows that the protocol dominates the DeFi space. Jonaso added that the protocol controls 65% of the DeFi market and has $15 billion in active loans.
Aave has just hit new ATH across multiple key metrics
TVL: $38B with 65% Lending Market Share
Active Loans: $15B
With these milestones, Aave is proving its dominance in the Lending Space.
➣ The journey doesn’t stop here.
$50B or even $100B in TVL is just a matter of… pic.twitter.com/wHUDpOgPsk
— Jonaso (@Jonasoeth) May 12, 2025
$100 Billion Next?
Jonaso believes it’s “just a matter of time” before Aave’s TVL reaches $100 billion. Aave’s milestone comes two days after Uniswap, another DeFi platform, announced clocking $3 trillion in all-time trading volume.
Uniswap is the first DEX to $3T volume
Bet its the first to 10
Grateful to everyone who swapped along the way as we decentralize the global finance system
pic.twitter.com/945Ab0Jpsl
— Hayden Adams
(@haydenzadams) May 12, 2025
Aave’s milestone also comes a month after a Galaxy Digital report disclosed that DeFi borrowing had increased by more than 950%. It also comes at a time when DeFi protocols are rebranding to allow them to venture deeper into the decentralized finance world.
With Aave accumulating over $40 billion in TVL, the amount is likely to increase as the protocol launches more initiatives to popularize the platform.
