Decentralized finance (DeFi) protocols have reached new milestones in asset deposits and usage. Total deposits into lending protocols have hit an all-time high of $100 billion, with approximately 82% of these deposits occurring on the Ethereum blockchain. Aave, a leading DeFi lending platform, recorded deposits of $70 billion, contributing significantly to this growth. Additionally, Ethereum-based stablecoin USDC saw its monthly transfer volume reach $748.3 billion in July, with 8.3 million transfers, indicating increased activity on the network. Other protocols such as Spark and Euler Finance are also experiencing growth, with Euler Finance hitting all-time highs in swaps and borrows. In total, there are 10 protocols with over $3 billion of ETH deposited, including five with deposits exceeding $10 billion. Moreover, around $160 billion worth of ETH is staked, with $40 billion staked via Lido Finance.
New record for DeFi. Aave reached $70 billion deposits. https://t.co/C0krz8MOcN
🏦⛓️ USDC usage on @ethereum is at an all-time high. Monthly transfer volume in July was $748.3 billion & transfer count 8.3 million. @circle is scaling on Ethereum. https://t.co/V5WMwlPAEi
ICYMI: There's ~$160B of ETH staked, of which ~$40B via @LidoFinance. https://t.co/hIGLmIqLOI