#OnChainLendingSurge

💥 The On-Chain Lending market has seen a 25% increase in total value locked (TVL), reaching $13.4 billion over the last month, indicating significant growth: 🤠

1. Increased Adoption: The surge in on-chain lending is due to increased adoption, as users prefer these platforms for their transparency, security, and decentralized nature.💰

2. Improved Infrastructure: Enhancements in blockchain technology and better lending protocols have improved the efficiency, security, and usability of on-chain lending.✅

3. Yield Farming: Yield farming has boosted liquidity in on-chain lending platforms, drawing investors looking to optimize their returns via lending and borrowing.💲

📊 Top on-chain lending protocols by TVL:

1. $AAVE : $4.3 billion

2. $COMP : $2.5 billion

3. MakerDAO: $2.2 billion

The increase in on-chain lending activity has notable effects on the wider cryptocurrency market, including: