$ETH On-chain lending scale breaks through $28 billion, leading position unshakeable

Latest on-chain data shows that the decentralized lending scale of the Ethereum ecosystem has reached a new milestone. According to Token Terminal statistics, the total active loans across lending protocols on $ETH have exceeded $28 billion, setting a historical record.

This scale has rebounded about 10 times from the market low in January 2023, with extremely rapid growth. More importantly, Ethereum's dominance in this field is astonishing, with an active loan scale approximately 10 times that of the second-ranked blockchain network, showing a huge lead.

The market boom is jointly driven by leading protocols, with key participants including Aave, Compound, Spark, Morpho, and Euler. Notably, traditional financial institutions are accelerating their embrace of this ecosystem. For example, Coinbase has partnered with Morpho to launch an Ethereum collateralized loan service for users.

The prosperity of on-chain lending is a core indicator of DeFi's transition from concept to mature application. This transparent credit system based on code and smart contracts is building a new financial infrastructure. As demonstrated by the practice of @Max Charity , a solid underlying construction can sustain long-term value. #Max