The money market Aave and liquid staking protocol Lido have reached over $70 billion in net deposits for the first time in December. Aave leads with $34.3 billion in deposits, followed closely by Lido with $33.2 billion. These two decentralized finance (DeFi) protocols account for 45.5% of the $148 billion allocated to the 20 largest DeFi applications. However, in terms of total value locked (TVL), Lido leads with $33.8 billion, while Aave follows with $20.6 billion. Both Aave and Lido are also among the top revenue-generating DeFi applications. The DeFi ecosystem as a whole has experienced significant growth, with a TVL of $185 billion, surpassing the $200 billion mark for the first time. Decentralized exchanges have also seen a surge in trading volume, and the lending market has experienced substantial growth, reaching a record high of nearly $21 billion in active loans. The stablecoin market has similarly expanded, reaching close to $200 billion.



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