Aave would be one of the 40 largest banks in the United States
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This defi protocol allows to operate without the need to pass KYC controls of any kind.
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The price of Token AAVE is 50% of its historical maximum, thus showing great bullish potential.
AAVE, the main decentralized loan platform, has reached a volume of deposits of 67,000 million dollars, positioning itself as a force comparable to the main US banks.
If it were a traditional banking institution, would take 38 among the 40 largest banks in the United Statessurpassing Southstate Bank, a regional bank with 371 branches in states such as South Carolina, Florida and Texas.
Aave is just behind Old National Bank, which operates almost 200 branches in regions such as Illinois, Indiana and Wisconsin, as seen in the following image.
The AAVE DEFI protocol allows users to provide cryptocurrencies without intermediaries, using intelligent contracts and liquidity pools in an automated market maker model.
Unlike traditional banks, it does not require KYC controls, which facilitates access to their services. In addition, its expansion to eleven decentralized networks, including Ethereum, Polygon, Arbitrum One and BNB Chain, has expanded its scope and flexibility, attracting users of various ecosystems.
Consequently, AAVE dominates the decentralized loan market, concentrating 66% of the sector, as reported by cryptootics from the end of July.
This growth was reflected on August 15, when the platform reached a historical record of 3 billion dollars in deposits, consolidating its position as leader in space defi.
On the other hand, the Aave governance token has shown a solid yield, with a 159% increase in the last year, reaching a current price of $ 288.
Although there is 50% below its historical maximum of $ 666 in 2021, the data reflects sustained growth that suggests a significant bullish potential for Token in the future.
