Ethereum’s DeFi dominance, with $77.15 billion in TVL, is bolstered by Aave’s growth, despite challenges from high fees and competition from Solana and other L2s. Aave TVL doubles to a record $40.3 billion, signaling renewed strength in Ethereum’s DeFi ecosystem as institutional and retail interest drives unprecedented growth in 2025. AAVE, Ethereum’s leading decentralized finance (DeFi) lending protocol, has reached an all-time high total value locked (TVL) of $40.3 billion as of May 12, 2025, a 50% increase from its year-to-date low of $20 billion.