Aave and Lido Dominate DeFi Space as Net Deposits Surpass $70 Billion for the First Time

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

DeFi giants Aave and Lido continue to dominate the decentralized finance (DeFi) landscape, attracting a combined $70 billion in net deposits on their platforms in December.

This impressive figure marks the first time that any platform has surpassed the $70 billion threshold in a single month.

The two platforms collectively hold nearly $170 billion in deposits, further highlighting the scale of their operations.

Aave leads the way with $35.3 billion in deposits, while Lido follows closely behind with $33.8 billion.

Both platforms are also ranked among the top DeFi applications in terms of total value locked (TVL), with Aave leading the pack at $36.9 billion and Lido ranking second with $33.7 billion.

Among the top 20 decentralized applications, Aave and Lido together attracted nearly 50% of the net deposits, further cementing their dominance within the DeFi ecosystem.

The top decentralized application received over $10 billion in net deposits, while the top five applications saw net deposits exceeding $20 billion.

Overall, the DeFi space witnessed a significant increase in protocol revenue and fees, with monthly revenue reaching $219 million — a substantial 128% increase from October's $96 million.

Aave and Lido were among the top revenue-generating DeFi applications. Aave's revenue grew 27.5% to reach $12.5 million, while Lido's revenue increased 24% to reach $9.6 million.