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Following
AAVE Aave (AAVE) controls approximately 42% to 48% of the top ten active DeFi loans, and V4 targets billions of dollars in idle liquidity
Key Points
Aave's active loans climbed from approximately US$11.1 billion to US$12.5 billion in August, before its loan size reached approximately US$12.7 billion.
The agreement currently supplies approximately US$30 billion and borrows US$12.7 billion, leaving a large amount of liquidity available for new demand.
V4 aims to connect decentralized liquidity through a shared center, while Horizon extends loans to tokenized treasury bonds and credit funds.
Aave loans lead
Aave's active loans have increased by more than US$1.5 billion in the past 30 days, indicating that borrowers are returning on a large scale rather than just dispersing into small lending platforms. Since August 20, borrowing growth has accelerated.
Its loan size reached approximately US$12.7 billion, almost equal to the US$13 billion to 14 billion held in nine competing agreements combined, highlighting the gap between Aave and other market participants.
DeFiLlama data shows that active loans under the Morpho agreement are US$4.81 billion, and Aave accounts for approximately 42% to 48% of the top ten active loans. Most competitors are still under $2 billion.
V4 Liquidity Plan
Aave still has room to grow without having every new loan matched with new deposits, because approximately US$30 billion in supply corresponds to US$12.7 billion in borrowing, leaving approximately US$17 billion available. V4 solves the existing fragmentation problem in V3 by connecting liquidity in the shared center, allowing idle funds to support borrowing elsewhere.
Liquidity already exists. If the structure works as expected, Aave can increase utilization and potentially increase revenue without requiring deposit growth to keep up with each borrowing increase.
Horizon provides another expansion path by introducing tokenized treasury bonds and credit funds into lending, although its deposits remain stuck at hundreds of millions of dollars.
In August, active loans started from approximately US$11.1 billion and reached approximately US$12.5 billion. The largest increase occurred after August 20, when borrowing exceeded US$12 billion.
