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

CoinFeed reported on March 9th that, according to Decrypt, the monthly active users of the DeFi lending protocol Aave reached a record high of approximately 155,000 in February, nearly doubling from six months prior. Analysts pointed out that this was primarily driven by market dynamics—the largest trading strategy in the crypto market, "basis trading," has recently collapsed. Users who previously earned 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, with the Aave Chan Initiative disbanding due to transparency controversies and BGD Labs withdrawing due to strategic differences, the protocol's lending activities continue to operate normally. Currently, Aave has a total locked value of nearly $27 billion across 20 blockchains, leading other DeFi lending protocols.