According to PANews, data from DefiLlama reveals that the total value locked (TVL) in Aave, a decentralized lending protocol on Ethereum, has risen to $12.966 billion. This is the highest level since May 6, 2022.
DL News comments suggest that this is the latest sign of recovery for DeFi from the numerous disasters of 2022, which wiped out two-thirds of the industry's market value. It also indicates that cryptocurrency traders are flocking to ETH, following predictions from ETF observers that the U.S. Securities and Exchange Commission will approve a spot Ethereum ETF tomorrow.