Maker

In a significant development within the decentralized finance (DeFi) landscape, Aave has surpassed MakerDAO to claim the position of the second-largest DeFi protocol based on the total value locked (TVL). According to data from <a href="https://defillama.com/" rel="noopener noreferrer nofollow">DefiLlama</a>, a DeFi TVL aggregator that strives to provide accurate and reliable data Aave&#39;s TVL has exceeded that of MakerDAO, causing a reshuffling in the rankings of the top DeFi projects.The decline in MakerDAO&#39;s TVL over the past few months has played a significant role in this shift, causing MakerDAO to fall to the third position from its early second place in DefiLlama&#39;s rankings. However, recent events such as the collapse of Silicon Valley Bank (SVB) and the de-pegging of stablecoins USDC and DAI from the U.S. dollar have further amplified this trend. As a result, MakerDAO experienced a significant decrease in its TVL, losing its position to Aave.Since the <a href="https://cryptotale.org/svb-parent-firm-considers-bankruptcy-as-an-option-to-sell-off-assets/" rel="noopener noreferrer nofollow">bankruptcy</a> of SVB on March 10, the total value of MakerDAO&#39;s TVL has witnessed a 15% decline. This decline could be attributed to multiple factors, including the loss of parity between USDC and DAI stablecoins and the subsequent fall in DAI supply rates. Maker&#39;s TVL stands at $5.558 billion at the time of writing, representing a 1.21% decrease in the past seven days.On the other hand, Aave&#39;s TVL currently amounts to $5.988 billion, solidifying its position as the new second-largest DeFi protocol. Despite a 2.17% decrease in TVL within a day, Aave&#39;s performance has been remarkable. With a 24-hour price decrease of 4.04%, Aave&#39;s market price is currently $<a href="https://coinmarketcap.com/currencies/aave/" rel="noopener noreferrer nofollow">75.14</a>.Read full article at <a href="https://cryptotale.org/aave-overtakes-makerdao-as-the-second-largest-defi-protocol-in-tvl/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Aave Overtakes MakerDAO as the Second-Largest DeFi Protocol in TVL

CryptoTale

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