DeFi lending demand surged, with Aave's monthly active users reaching a record high of 155,000 in February.

PANews reported on March 9th that, according to Decrypt, the monthly active users of the DeFi lending protocol Aave reached approximately 155,000 in February, a record high and nearly double the number six months prior. Analysts point out that this is primarily driven by market dynamics—the largest trading strategy in the crypto market, "basis trading," has recently collapsed. Users who previously could earn 10-30% returns by holding sUSDe can now expect returns below 4%. With fewer low-risk, high-return strategies available, lending has become a remaining option for investors.

Despite recent governance turmoil within the Aave ecosystem—the dissolution of the Aave Chan Initiative due to transparency controversies and the withdrawal of BGD Labs due to strategic differences—protocol lending activities continue to operate normally. Currently, Aave boasts a total value locked across 20 blockchains of nearly $27 billion, leading other DeFi lending protocols.