December has been a blockbuster month for decentralized finance (DeFi) giants Aave and Lido, with net deposits on their platforms surpassing a staggering $70 billion for the first time.

The two platforms have collectively amassed nearly $170 billion in deposits, with Aave taking the lead at $35.3 billion, narrowly edging out Lido’s $33.8 billion.

Net Deposits and TVL:
Net Deposits: In December, the net deposits for the money market platform Aave and the liquid staking protocol Lido surpassed $70 billion for the first time, totaling nearly $170 billion. Aave leads with $35.3 billion in deposits, just $1.5 billion higher… pic.twitter.com/fDtmmdWgzd

— OKX Ventures (@OKX_Ventures) December 26, 2024

Aave And Lido Dominance Continues 

This impressive feat underscores the dominance of Aave and Lido within the DeFi ecosystem, with the duo accounting for nearly 50% of net deposits allocated to the top 20 largest decentralized applications. Their strong positions are further solidified by their total value locked (TVL) leadership, with Aave boasting $36.9 billion and Lido holding $33.7 billion.

The DeFi space has also witnessed a significant surge in protocol revenue and fees, with monthly revenue reaching $219 million – a remarkable 128% increase from October’s $96 million. Aave and Lido remain among the top revenue-generating DeFi applications, with Aave’s revenue growing 27.5% to $12.5 million and Lido’s revenue increasing 24% to $9.6 million.

Aave and Lido’s total net deposits exceeded the $70 billion mark for the first time, ranking the top two in the DeFi ecosystem with $34.3 billion and $33.4 billion respectively, accounting for 45.5% of the total net deposits of the top 20 decentralized applications.…

— Wu Blockchain (@WuBlockchain) December 25, 2024

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: itchaznong/123RF // Image Effects by Colorcinch