#OnChainLendingSurge According to PANews, recent data from | SmartAmeen on Binance Square

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#OnChainLendingSurge 
According to PANews, recent data from Token Terminal indicates that the total active loans in the on-chain lending market have reached an all-time high, surpassing $20 billion. 
The previous record was set in December 2019.
#BTC 

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#OnChainLendingSurge On-chain lending market is experiencing a significant increase, with a 25% rise in total value locked (TVL) to $13.4 billion in the last 30 days. This growth is driven by: 1. Increased adoption: more and more users are turning to on-chain lending platforms for their borrowing needs, driven by the benefits of transparency, security, and decentralization. 2. Improved infrastructure: advancements in blockchain technology and the development of more sophisticated lending protocols have made on-chain lending more efficient, secure, and user-friendly. 3. Yield farming: the rise of yield farming has attracted more liquidity to on-chain lending platforms, as investors seek to maximize their returns through lending and borrowing activities. Top on-chain lending protocols by TVL: 1. Aave: $4.3 billion 2. Compound: $2.5 billion 3. MakerDAO: $2.2 billion This increase in on-chain lending activity has significant implications for the cryptocurrency market as a whole, including: 1. Increased liquidity: greater liquidity in on-chain lending markets can lead to higher trading activity and higher prices for cryptocurrencies. 2. Greater market efficiency: on-chain lending platforms can help reduce market inefficiencies by providing more transparent and accessible lending and borrowing opportunities. 3. Growth of the DeFi ecosystem: the growth of on-chain lending is a key indicator of the expanding DeFi ecosystem, which is expected to continue evolving and maturing in the coming months. $BTC $ETH $BNB

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