Aave Hits Record 40,000 Weekly Borrowers, Sees $6M Revenue Boost

Aug 15, 2024, 04:00 AM

Aave, a prominent decentralized finance (DeFi) platform, has achieved a significant milestone by reaching an all-time high in weekly active borrowers. Last week, the platform recorded 40,000 active borrowers, indicating a resurgence in DeFi activity. This growth in on-chain crypto loans suggests a potential revival in the decentralized finance sector. Additionally, Aave experienced a revenue increase of up to $6 million following last week's market fluctuations. The platform's founder, Stani Kulechov, confirmed these developments, highlighting Aave's continued success in the crypto lending space.