The DeFi ecosystem has been on a roll in December 2024, with Aave and Lido hitting a major milestone of surpassing $70 billion in net deposits. Aave leads the way with $34.3 billion in deposits, closely followed by Lido at $33.2 billion. These two protocols account for 45.5% of the $148 billion allocated to the top 20 DeFi applications. Despite Aave having more deposits, Lido leads in total value locked (TVL) with $33.8 billion, with Aave trailing behind at $20.6 billion.
In terms of revenue generation, Aave and Lido are also among the top DeFi applications. Aave saw a 27.5% growth in revenue to $12.5 million, making it the 10th largest protocol in this regard. Lido, on the other hand, registered $9.6 million in monthly revenue, growing by 24% and securing the 12th spot. These impressive revenue figures highlight the strength and profitability of these DeFi protocols.
The DeFi sector as a whole has seen significant growth in 2024, with the total TVL reaching $185 billion and peaking at $212 billion in December. Decentralized exchanges have also been breaking records in terms of trading volume, with nearly $380 billion traded in November. The ratio between decentralized and centralized exchanges hit 13.9% in October, the second-highest level ever recorded.
The lending market in DeFi has also experienced growth, with active loans peaking at nearly $21 billion in December. This trend indicates that more users are becoming comfortable utilizing on-chain financial resources. Additionally, the stablecoin market size is close to $200 billion, as users pledge their crypto holdings as collateral and borrow stablecoins, increasing liquidity and exposure to the crypto market.
Overall, the performance of Aave and Lido, as well as the broader DeFi ecosystem, in December 2024 showcases the resilience and potential of decentralized finance. With record-breaking TVL, trading volume, and lending activity, DeFi continues to attract users and investors looking for innovative and decentralized financial solutions. As the sector continues to evolve and grow, Aave and Lido are expected to remain key players in the DeFi space, driving further adoption and growth in the coming months.
