Aave V4 deposits hit record $806M

• Aave V4 deposits reached $806 million on August 27, up 30% in seven days.
• Active loans reached $206 million, including $62 million in the EtherFi market.
• Aave V3 remains much larger, with about $31 billion in deposits.

Aave (CRYPTO:AAVE) V4 deposits reached a record $806 million on August 27, rising 30% in seven days.

Deposits passed $500 million on August 19 and $600 million two days later before adding more than $200 million.

Ethereum Core held $378 million, while EtherFi Cash on Optimism held $257 million in V4 deposits.

Active V4 loans reached $206 million, including $62 million from the EtherFi market, which had 92% utilisation.

Following the update, Aave (CRYPTO:AAVE) traded at $130.97, up 3.96% over 24 hours and 30.4% over seven days.

WeETH was the largest individual deposit asset at $97 million, followed by USDG at $90 million and WETH and USDC at $81 million each.

Aave V4 launched in April and expanded to Avalanche in July, while Aave V3 still holds about $31 billion in deposits.