Aave's total lock-up volume (TVL) has surged to around $30 billion, up 50% from the year's low of $20 billion, solidifying its position as Ethereum's primary lending protocol as well as TVL's second-largest decentralized application. Aave currently generates more than $1 million in daily fee revenue, indicating active protocol usage and not just passive capital deposits. Outstanding loans have also grown with TVL and are currently around $10 billion, with a debt-to-TVL ratio of around 33%. The continued growth in lending activity underscores DeFi's continued appeal in terms of product-to-market fit.