Aave V4 Deposits Soar to New All-Time High
Aave's V4 deposits have reached an all-time high of $806 million, up 30% from the previous week. This milestone marks a significant increase in adoption for Aave's latest protocol version.
The surge in deposits is evident across various markets, with Ethereum V4 deposits alone crossing $500 million on August 25. EtherFi Cash was the second-largest market at $257 million, followed by other deployments on Optimism and Avalanche.
Aave's live on-chain dashboard listed V4 user deposits, showing a diverse mix of assets being used as collateral. WeETH led with $97 million in deposits, followed closely by USDG at $90 million. WETH and USDC accounted for $81 million each, while liquidETH and WBTC trailed behind.
In comparison, Aave's V3 dashboard showed a much larger deposit base of $31 billion, with Ethereum Core holding $25 billion alone. The V4 protocol organizes liquidity differently than its predecessor, using a hub-and-spoke system to consolidate assets and apply separate borrowing rules.