#OnChainLendingSurge

DeFi lending surges as yield chases rise

In the search for innovative strategies to generate profits, decentralized finance (DeFi) lending has reached $11 billion, a two-year high, IntoTheBlock reports. The main drivers of this growth were Ether.fi and Ethena.

    •   Ether.fi: The eETH token has reached $6.4 billion in supply and has become a significant part of the EigenLayer ecosystem, with 1.7 million eETH in circulation.

    •   Ethena: The USDe stablecoin has grown to $3.2 billion, becoming the fourth largest stablecoin.

Leading DeFi protocols

Aave V3 leads with nearly $6 billion in loans, while risky lending has reached $1 billion. The use of weETH as collateral has increased dramatically since April, with over $1 billion of this asset already used to borrow ETH.

The DeFi ecosystem offers new approaches to increasing profits, including using tokens for liquid staking, re-staking, and optimizing work with stablecoins.