Aave’s average total value locked (TVL) rose 13.7% month over month to $27.4 billion in August 2026, while active loans increased 12.9% to $11.7 billion. The gains lifted Aave’s share of Token Terminal’s tracked on-chain lending market to 47.8%, up 1.2 percentage points from July, although TVL and active loans remained 57.6% and 56.9% below year-earlier levels. August fees rose 15.2% to $33.9 million, including $4.9 million in DAO revenue, with interest accounting for $33.3 million.