Aave's TVL Doubles to $115B, Driven by Ethereum Rally and Cross-Chain Integration

Aave's latest price was $251.31, down 3.091% in the last 24 hours. Aave has been making significant strides in the decentralized finance (DeFi) space, with its adoption and market performance continuing to strengthen. Aave announced that it now holds 20% of the total value locked (TVL) across the DeFi sector. This achievement is supported by a strong rally in Ethereum (ETH), which has seen a substantial increase over the past month. Additionally, on-chain analytics platform Sealaunch revealed that Aave’s DeFi TVL has doubled from $56 billion to $115 billion between January 24 and May 21.

Aave’s recent surge is driven by several key events. Notably, Aave integrated with a non-EVM chain for the first time ever when it deployed its V3 protocol on Aptos on May 19. This milestone enhances Aave’s cross-chain lending capabilities and expands its network reach. Furthermore, discussions are underway to incorporate Soneium and Uniswap V4 LP tokens as collateral, which would further expand the utility of Aave’s DeFi ecosystem. On the regulatory front, the U.S. Senate’s progress on the GENIUS Act is seen as a positive development for large DeFi companies like Aave, potentially increasing institutional adoption.