Money market Aave and liquid staking protocol Lido surpassed $70 billion in net deposits for the first time in December, according to data from TokenTerminal.
At press time, the two largest DeFi protocols hold a total of $67.42 billion.
Aave leads with $34.3 billion in deposits, just $1.1 billion more than Lido’s. Net deposits directed to these two DeFi heavyweights represent 45.5% of the $148 billion allocated to the 20 largest decentralized applications.
However, when it comes to total value locked (TVL), Lido leads the DeFi ecosystem with $33.8 billion, with Aave coming in second with $20.6 billion. Net deposits represent the total deposited into a DeFi protocol, excluding fees and synthetic tokens, while TVL is the total allocated across all assets.
Additionally, Lido and Aave are among the best DeFi apps in terms of revenue generation. Over the past 30 days, Aave’s revenue increased by 27.5% to $12.5 million, making it the 10th largest protocol.
Meanwhile, Lido recorded $9.6 million in monthly revenue, fueled by a growth rate of 24%, securing the 12th largest DeFi application by revenue.
Resurgence of DeFi
The DeFi ecosystem recorded a strong performance in 2024. The sector total TVL flew away 107%, reaching $185 billion at press time and peaking at $212 billion on December 16. This is the first time that TVL has exceeded the $200 billion threshold.
Other Metrics Trading volume on decentralized exchanges reached new records on daily, weekly and monthly time frames. According to data from DefiLlama, these protocols represented a volume of almost $380 billion in November.
Furthermore, according to the data According to The Block, the ratio between decentralized and centralized exchanges reached 13.9% in October, the second highest level in history.
The lending market has also grown, with active loans peaking at nearly $21 billion this month, the highest monthly figure. This trend suggests that more and more users are comfortable with using on-chain financial resources.
Additionally, the growth in active loans has also contributed to the size of the stablecoin market, which is around $200 billion, according to Artemis. data. Users use their crypto holdings as collateral and borrow stablecoins, thereby adding liquidity to their reserves and increasing their crypto exposure.
