Aave’s fourth-generation lending protocol just crossed a milestone that took its predecessor months longer to hit. Deposits on Aave v4’s Ethereum deployment have climbed to roughly $200 million, effectively doubling from around $100 million just one month earlier.
Active loans sit at approximately $60 million. For a protocol that only went live on March 30, 2026, that’s a trajectory worth paying attention to.
From $25M to $200M in under three months
By early May 2026, deposits had already jumped from roughly $25 million to over $50 million. Then came another doubling to $100 million. And now, $200 million.
The governance side has kept pace with the capital inflows. On May 4, 2026, the Aave DAO approved v4 activation with near-unanimous support.
