Aave's TVL (Total Value Locked) approaches 13 billion US dollars, reaching a two-year high

Data from DefiLlama shows that the total value locked (TVL) in Ethereum's decentralized lending protocol Aave has now risen to $12.966 billion, the highest level since May 6, 2022. DL News comments that this is the latest sign of DeFi recovering from countless disasters in 2022, which wiped out two-thirds of the industry's market value. It also indicates that cryptocurrency traders are flocking to ETH after ETF observers predicted that the U.S. Securities and Exchange Commission will approve a spot Ethereum ETF tomorrow.