The version 3 (v3) blockchain’s total value locked (TVL) has surged 15% since the start of the month to $1.76 billion, data from blockchain analytics firm DefiLlama shows. Aave’s TVL has skyrocketed 300% since Jan. 1, widely outpacing other major cryptos over this period. Bitcoin and ether, the two largest digital assets by market capitalization, have risen about 70% and 50%, respectively, in 2023.

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Author: Sam Reynolds, Sage D. Young

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