Aave V4 Surpasses $1 Billion in Deposits

Aave's fourth-generation protocol has surpassed $1 billion in deposits, doubling its total in just one month. This milestone was reached around September 16-17 and puts V4 on a trajectory that even its most optimistic backers didn't predict.

The speed of this growth is impressive, considering Aave V4 deposits sat below $340 million at the start of August. By early September, that figure had climbed to roughly $577 million. Now it's hovering around $1.16 billion, with active loans running between $300 million and $310 million.

A significant chunk of V4's growth can be attributed to the Ether.fi Cash market on Optimism, which has crossed $300 million in deposits, making it a heavyweight contributor to V4's overall numbers.