Aave V4 Deposits Hit $806M Following 30% Weekly Growth
Aave V4 user deposits have reached $806 million following a 30% weekly gain, according to data from the protocol’s live onchain dashboard cited by The Defiant. The latest reading marks a new all-time high and extends a rapid climb that saw V4 deposits cross $500 million on August 19 and $600 million on August 21.
Alongside the rising deposit base, the platform recorded $216 million in active loans on the dashboard. A separate metric showed $62 million of active loans in the EtherFi market, where weETH collateral backed WETH borrowing at a 92% utilization rate. The current V4 deployment spans multiple networks including Ethereum, Optimism, and Avalanche.
Ethereum Core held $378 million, while EtherFi Cash on Optimism represented V4’s second-largest individual market at $257 million. Ethereum Global Dollar and Ethereum Prime held $75 million and $63 million respectively, with Avalanche Core and Ethereum Plus accounting for smaller shares. The overall deposit mix was led by weETH at $97 million and USDG at $90 million, followed by WETH, USDC, liquidETH, liquidUSD, and WBTC.
Despite the swift growth of V4, the older Aave V3 iteration retains a substantially larger user base. The V3 dashboard reported $31 billion in total user deposits, with Ethereum Core alone accounting for $25 billion.
The structural differences between the iterations are outlined in Aave documentation. V4 transitions away from the market-per-pool design used in V3, introducing a hub-and-spoke architecture where hubs manage liquidity consolidation and accounting, while spokes enforce distinct borrowing rules and risk parameters.
Based on reporting by thedefiant.io.
