Aave V3 core market increased ~$1B in deposits and $487M in borrows over the last 7 days.
Five assets are driving deposit growth:
→ WETH +$322M
→ USDT +$279M
→ USDe +$260M
→ wstETH +$160M
→ weETH +$125M
Borrows are led by WETH (+$186M) and USDT (+$193M).
wstETH is the largest collateral in DeFi, with $5.7B deposited across lending protocols.
Aave wstETH deposits are now ~$2B and up $180M this week, while SparkLend fell $99.65M
Aave also added $128M in weETH deposits in the last 7D, over 6x the next-largest protocol for this asset.
These LSTs deposits naturally translate into borrows and revenue for the protocol, as these assets are typically used as collateral to borrow WETH or, to a smaller extent, stablecoins.