Aave's total value locked (TVL) has hit an all-time high of $41.1 billion, making it the equivalent of the 54th largest US commercial bank.

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The decentralized lending protocol's TVL would increase to $71.1 billion if outstanding borrows are included. Aave controls 50% of the DeFi lending market and has achieved multiple records, with its token price increasing 177% since April.

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