Aave accounts for 48% of active loans as DeFi lending surges 30% to $26.1B

DeFi lending just had a very good summer. Total active loans across major decentralized lending protocols climbed to $26.1 billion in August, up from $20.1 billion in June. That’s roughly 30% growth in two months, and Aave is eating nearly half the pie. The protocol commands approximately $12.5 billion in outstanding loans, good for about 48% of total market share. The competitive landscape beneath Aave While Aave towers over the field, the runners-up are putting up respectable numbers of their own. Morpho sits in second place with $5.1 billion in active loans. Spark rounds out the top three at $2.1 billion. The gap between first and second is telling: Aave holds more than double Morpho’s loan book, and nearly six times Spark’s. Aave’s growth trajectory in detail Active loans in July averaged around $10.3 billion, representing roughly a 10% increase from the prior month. By August, that figure had jumped to $12.5 billion. On the deposit side, Aave founder Stani Kulechov noted that total deposits crossed the $30 billion mark in August. That represents a 30% increase over the quarter. Why the lending rebound matters The broader $26.1 billion figure is significant because DeFi lending...