$AAVE
Aave's TVL recently reached a historical high of $41.1 billion, equivalent to the 54th largest bank in the U.S.
According to DefiLlama, the total value locked (TVL) in the decentralized lending protocol Aave hit a historical high of $41.1 billion on August 24. Based on the Federal Reserve's commercial bank deposit data as of June 30, this amount ranks 54th among U.S. commercial banks, surpassing Prosperity Bank, which has deposits of $38.4 billion, and is just $300 million shy of surpassing Bank OZK. If the $28.9 billion in outstanding loans on that day is included, Aave's total size reaches $71.1 billion, placing it among the top 37 U.S. commercial banks (top 1.7%). Founder Stani Kulechov stated that the protocol is not a bank but an open network accessible to financial institutions, offering sources of yield that are independent of the Federal Reserve.
As of August 24, Aave controls approximately 50% of the total TVL in the DeFi lending market, dominating the $81.5 billion lending sector, nearly 6 times larger than its biggest competitor, Morpho, which has $7 billion.