Aave’s v4 deployment has reached $300 million in deposits across Ethereum and Avalanche, marking a fresh growth milestone for the protocol’s latest version. That growth reflects users continuing to supply assets even as v4 expands under a security-first rollout with guarded caps. What stands out is the composition: this is not a single-chain spike, but growth spread across Ethereum, DeFi’s core liquidity base, and Avalanche, where v4 launched more recently as part of Aave’s multi-chain rollout.
At the same time, active loans on v4 are near $100 million, a sign that the new liquidity is being put to work rather than sitting idle. That lift in both deposits and borrowing points to real engagement with Aave’s ecosystem.
There is still a gap between protocol activity and token price action. Despite that growth in usage, Aave remains near a heavily tested pivot cluster rather than breaking cleanly higher. For now, the clearer signal is on the protocol side, where deposits and active loans continue to build. What to watch next is whether borrowing on v4 keeps scaling alongside deposits as the rollout expands.