Aave TVL approaches $13 billion, a two-year high

On May 23, it was reported that the total locked value (TVL) of Aave, a decentralized lending protocol on Ethereum, has reached $12.966 billion, the highest level since May 6, 2022, according to DefiLlama data.

DL News commented that this is the latest sign of DeFi's recovery from numerous disasters in 2022, which wiped out two-thirds of the industry's market value. This also indicates that cryptocurrency traders are flocking to ETH after ETF observers predict that the US Securities and Exchange Commission will approve a spot Ethereum ETF tomorrow.