What happened
Deposits of the new version grew over the week but remain well below the Aave V3 base.
Why it matters
The growth signals a rapid increase in deposits for Aave V4, but the overall scale of Aave V3 remains much larger, so the data currently reflect an early stage of the new version rather than a leadership shift.
According to The Defiant, deposits in Aave V4 reached 806 million dollars after a weekly increase of 30%. The source notes this in the publication's headline.
The largest market for V4, based on the available synopsis, was EtherFi Cash with deposits of 257 million dollars. Meanwhile, the Aave V3 deposit base remained significantly larger at — 31 billion dollars.
The gap with V3 indicates that V4 currently holds a smaller position within the Aave ecosystem. The available materials do not disclose the composition of deposits, the reasons for the weekly growth, or its sustainability.
Confirmed facts
- The Defiant reported that deposits in Aave V4 reached 806 million dollars after a weekly gain of 30%.
- EtherFi Cash was the second-largest market for V4 with deposits of 257 million dollars.
- The Aave V3 deposit base stood at 31 billion dollars and was significantly larger than the V4 base.
Context
The material is based on a single The Defiant publication and is available only in metadata and synopsis format, not the full article text.
What remains unknown
- Which networks and markets are included in the reported sum of Aave V4? deposits?
- What caused the weekly growth of 30%?
- Has the growth persisted beyond the period cited in the publication?
- How do the metrics of V4 and V3 compare in terms of active users and loan volume?
Editorial context
Confidence: medium
Possible consequence — increased attention to users migrating to V4, but the conclusion about long-term liquidity redistribution is premature. The next observable signal will be the dynamics of deposits V4 in subsequent reporting periods and the changing gap with V3. Substantial uncertainty arises from the lack of the full source text and explanation of the reasons for the growth.