The decentralized finance (DeFi) sector continues to show strong growth and innovation, with key protocols like Aave and Lido leading the way. In December, these two platforms surpassed $70 billion in net deposits for the first time, according to data from TokenTerminal. Aave currently holds $34.3 billion in deposits, slightly ahead of Lido’s $33.2 billion. Together, they represent nearly half of the $148 billion allocated to the top 20 decentralized applications.
In terms of total value locked (TVL), Lido takes the lead with $33.8 billion, followed by Aave with $20.6 billion. Net deposits reflect the total amount deposited in a DeFi protocol, excluding fees and synthetic tokens, while TVL encompasses all assets allocated across the platform.
Both Aave and Lido are also generating significant revenue, with Aave earning $12.5 million in the past 30 days and Lido bringing in $9.6 million. These figures place them among the top revenue-generating protocols in the DeFi space.
The overall DeFi ecosystem has been experiencing a resurgence in 2024, with TVL reaching a record high of $212 billion on December 16th. Decentralized exchanges have also seen a surge in trading volume, with nearly $380 billion traded in November. The ratio between decentralized and centralized exchanges reached 13.9% in October, indicating a growing preference for decentralized trading platforms.
The lending market has also seen significant growth, with active loans reaching nearly $21 billion in December. This trend suggests that more users are embracing on-chain financial resources. Additionally, the stablecoin market has grown to nearly $200 billion, as users leverage their crypto holdings as collateral to borrow stablecoins and increase their exposure to the crypto market.
Overall, the DeFi sector is experiencing robust growth and adoption, fueled by innovative protocols like Aave and Lido. With increasing interest from users and investors, the future looks bright for decentralized finance.