Aave (AAVE) has seen a significant increase in net deposits, surpassing $20 billion, as the overall crypto market recovers. The protocol now holds over $7.5 billion in active loans, protected by excess collateral. Aave's total value locked (TVL) has reached $12.5 billion on its Ethereum version, contributing to the DeFi sector's total TVL of $20.53 billion. AAVE has become the second most liquid DeFi hub after LidoDAO. The AAVE token has experienced rapid appreciation and is expected to potentially reach $250 in the short term. Aave is also set to unlock its Ecosystem Reserve tokens starting in 2025. The protocol holds $2.3 billion in value locked in Wrapped BTC (WBTC), which may be divested in the future. GHO, Aave's stablecoin, is nearing its $175 million market cap and will contribute to the deflation of AAVE through buybacks. GHO uses a complex structure to move coins to various Layer 2 chains. The leading chain for Aave activity is Base, followed by Arbitrum and Polygon. GHO is 150% crypto-collateralized and primarily held by top whales.



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