The relatively new platform, **Euler**, is witnessing a surge in active user numbers, edging closer to prominent DeFi platforms like **Compound** and **Morpho**. According to [@tokenterminal](https://x.com/tokenterminal), weekly active user numbers on Euler have reached a significant milestone. [1](https://x.com/tokenterminal/status/1874607064074576027) 

Michael Bentley, also known as [@euler_mab](https://x.com/euler_mab), shared that Euler's weekly active users are already on par with Compound. This milestone highlights its rapid growth in the DeFi space, with user numbers reaching almost 20% of Morpho's and nearly 5% of Aave's user base. [1](https://x.com/tokenterminal/status/1874607064074576027)

Despite being just a few months old and having a considerably lower Total Value Locked (TVL) compared to these established platforms, Euler's swift rise in user engagement is noteworthy. Bentley expressed satisfaction with these metrics, indicating strong momentum in Euler's growth journey. [1](https://x.com/tokenterminal/status/1874607064074576027)

Euler's user numbers rival Compound and Morpho.

Euler Surges in Active Users

Token Terminal

Moonwell has made significant strides in the decentralized finance (DeFi) world by climbing to the position of the second-most active DeFi lending protocol globally. 
Over the past week, it has seen a remarkable increase in its activity, going up by 22%. According to a tweet from [@LukeYoungblood](https://x.com/LukeYoungblood), Moonwell is poised for a promising future as it gains momentum and attention within the DeFi sector. [1](https://x.com/tokenterminal/status/1874630787058004044) 

The announcement, which has garnered engagement and excitement from the community, indicates a growing interest and trust in Moonwell. The upward trend positions Moonwell as a leading player and sheds light on the competitive nature of the DeFi space, where innovation and user interest drive success. 
This newfound rank demonstrates Moonwell's capability to attract users and investors, further validating its platform and services.

The growth not only highlights the platform's technical advancements but also its strategic positioning in the rapidly evolving DeFi market. 
The encouraging news for Moonwell is reflected in the market's positive reception and the flow of interactions on social media. 
These developments might signal a bright and transformative year ahead for Moonwell and its community. 

As Moonwell continues to expand and enhance its offerings, it maintains robust competition in the DeFi sector, fostering advancements, adoption, and expansion of decentralized financial solutions. [2](https://x.com/SpaceX/status/1204315977720221696)
As the world of DeFi evolves, protocols like Moonwell lead the charge toward financial decentralization and innovation.

This rising prominence serves as a testament to the ongoing advancements in blockchain technology and the increasing influence of DeFi in reshaping the financial landscape.

Moonwell becomes the second most active DeFi lending platform.

Moonwell Rises in DeFi Lending Rankings

The decentralized finance (DeFi) platform **Aave** has achieved a remarkable milestone.
In 2024, its net deposits soared to an all-time high of **$33.4 billion**.
This figure surpasses the previous record set during the 2021 bull market. [1](https://x.com/WuBlockchain/status/1874628663737823514)

**Aave's success** can be attributed to the launch of **Aave v4** in 2024.
The new version introduced additional markets, diversifying its offerings significantly.
Among the new markets are **Sonic**, **Mantle**, **Linea**, **BOB**, **Spider Chain**, and **Aptos**.
These expansions have been instrumental in attracting more users and increasing deposits. [1](https://x.com/WuBlockchain/status/1874628663737823514)

These developments underline the **rising appeal** of DeFi lending protocols, as Aave continues to lead the industry.
The integration of diverse markets emphasizes Aave's commitment to innovation and scalability.
Investors and users are drawn to the lucrative possibilities within these expanding ecosystems.

Aave's net deposits hit a record $33.4 billion.

Euler Surges in Active Users

Frequently Asked Questions

What is Euler and what services does it provide?

How does the user growth of Euler compare to other DeFi platforms?

What does Total Value Locked (TVL) mean in DeFi?

Why is the growth in active users for Euler significant?

What can we infer from Euler's swift rise in user engagement despite a low TVL?