• Aave recorded the most asset deposits in its protocol.
• Though Lido underperformed, its TVL hit 2023 highs.

The Total Value Locked of Aave [AAVE] gained as much as 8.69% in the week ended 25 March. The rise in unique smart contract deposits made the protocol the best-performing one as the overall TVL hit $5o.01 billion — a Year-To-Date (YTD) high. However, the TVL fell to $49.42 billion at press time

How much are 1,10,100 AAVEs worth today?

The TVL considers factors like the circulating supply, asset locked, as well as user interest in a protocol to measure the protocol’s health. So, Aave’s hike implied that many participants in the last seven days looked in the lending and borrowing direction.

Source: DeFi Llama

Aave takes the week and triumphs

Lido Finance [LDO] dominated the space for several weeks before Aave took over. Although the liquid staking protocol maintained its stay as the project with the highest TVL, it did not perform well enough to place second-fiddle to Aave. According to DeFi Llama, Lido’s performance over the week yielded a less than 1% hike.

However, this does not take away Lido’s position as the project which has accommodated the most staked Ether [stETH] ready to be unlocked on 12 April when the Ethereum’s [ETH] Shanghai upgrade takes place.

Aave, on the other hand, may not boast of such, but its rise in popularity could also be due to Ethereum’s impact. With a $4.82 billion lifetime contribution, Ethereum has helped Aave record a substantial...

source: https://ambcrypto.com/aave-outperforms-ldo-as-tvl-reaches-ytd-high-more-inside/