[Aave TVL Hits $41.1 Billion All-Time High, Comparable to the 54th Largest Bank in the U.S.] According to Cryptoslate, data from DefiLlama shows that the total value locked (TVL) of the decentralized lending protocol Aave reached an all-time high of $41.1 billion on August 24. Based on commercial bank deposit data from the Federal Reserve as of June 30, this scale would rank Aave as the 54th largest commercial bank in the U.S., surpassing Prosperity Bank, which has deposits of $38.4 billion, and just $3 billion shy of overtaking Bank OZK. If the $28.9 billion in outstanding loans on the same day is included, Aave's total scale reaches $71.1 billion, placing it among the top 37 U.S. commercial banks (top 1.7%). Founder Stani Kulechov stated that the protocol is not a bank but an open network accessible to financial institutions, offering yield sources independent of the Federal Reserve. As of August 24, Aave controls approximately 50% of the total TVL in the DeFi lending market, dominating the $81.5 billion lending sector and standing nearly six times larger than its closest competitor, Morpho ($7 billion).