在AAVE和Morpho的領導下，Defi Lending猛增，將TVL推向了新的高度。這是可持續增長還是另一個加密泡沫？

Aave, Morpho, and DeFi TVL: A New Era of Crypto Lending?

Aave，Morpho和Defi TVL：加密貸款的新時代？

DeFi's not just a playground anymore; it's a real player in the crypto game. With lending protocols like Aave and Morpho leading the charge, the total value locked (TVL) is breaking records. Are we witnessing sustainable growth, or is this just another flash in the pan?

Defi不再是一個遊樂場；這是加密遊戲中的真正玩家。隨著AAVE和Morpho等貸款協議的領導，鎖定的總價值（TVL）正在打破記錄。我們是在目睹可持續增長，還是這只是鍋中的另一個閃光？

DeFi TVL Soars to New Heights

Defi TVL飆升至新高度

In early June 2025, DeFi lending protocols crossed a major milestone, exceeding $55.7 billion in TVL. Aave v3, a major player in crypto lending, saw its TVL jump 55% in just two months, reaching close to $26.09 billion. Revenue followed suit, with daily generation hitting $1.6 million. The AAVE crypto also benefited, gaining 65% over three months, outpacing Bitcoin's 26% increase.

2025年6月上旬，Defi貸款協議跨越了一個重大里程碑，超過了57億美元的TVL。加密貸款的主要參與者Aave V3在短短兩個月內看到其TVL增長了55％，達到了接近260.9億美元。收入也隨之而來，每天一代達到160萬美元。 AAVE Crypto也受益匪淺，在三個月內獲得65％，超過了比特幣的增長26％。

This surge reflects a maturing ecosystem, with Aave becoming a go-to for arbitrage and automated strategies. The numbers suggest renewed confidence in DeFi mechanisms.

這種激增反映了一個成熟的生態系統，艾滋病成為套利和自動化策略的首選。這些數字表明對DEFI機制的信心增強了。

Aave, Morpho, and Maple: Three Visions of Crypto Credit

Aave，Morpho和Maple：加密信貸的三種願景

Aave isn't the only one making waves. Morpho Blue, with a TVL of $3.9 billion, offers a modular protocol, attracting institutions. Maple Finance, with a TVL of $1.37 billion, specializes in uncollateralized lending on real-world assets, bridging DeFi and traditional finance. These diverse approaches cater to different needs, strengthening the ecosystem's resilience.

Aave並不是唯一的浪潮。 Morpho Blue的TVL為39億美元，提供了一個模塊化協議，吸引了機構。 Maple Finance的TVL為13.7億美元，專門從事現實世界中的資產，橋接DEFI和傳統金融的非補充貸款。這些多樣化的方法滿足了不同的需求，從而增強了生態系統的彈性。

Crypto Lending: Progress and Persistent Risks

加密貸款：進度和持續風險

While the overall crypto lending market is recovering, it's not without risks. Crypto lending remains sensitive to collateral volatility, and regulation is still pending. However, the progress in DeFi lending suggests a shift towards usage and structuring over pure speculation.

儘管總體加密貸款市場正在恢復，但並非沒有風險。加密貸款仍然對附帶波動率敏感，調節仍在待審。然而，貸款貸款的進展表明，朝著純粹的投機邁出了使用和構造。

Looking Ahead: A DeFi Rebalancing

展望未來：一種防禦平衡

We're at a turning point. The DeFi comeback, combined with the rise of real-world assets, signals a profound rebalancing. The growth of lending and the performance of Aave, Morpho, and Maple indicate a shift towards a more mature and sustainable DeFi landscape.

我們在一個轉折點。 Defi捲土重來加上現實世界中資產的興起，這表明了重新平衡。貸款的增長和AAVE，Morpho和Maple的性能表明向更成熟和可持續的Defi景觀轉變。

Final Thoughts

最後的想法

So, is DeFi here to stay? The numbers and trends suggest it might be. But as always, keep your eyes peeled and your wits about you in the ever-evolving world of crypto!

那麼，Defi在這裡留下來嗎？數字和趨勢可能是。但是，與往常一樣，在不斷發展的加密世界中，保持眼睛剝落和智慧！