Defi Active Loans expanded to a three-year peak, marking a near-perfect recovery in loans from the 2022 crash. Over $24 billion active loans show increased confidence in the crypto market.
Defi continued to grow to a new peak in 2025, with loans being one of the most in-demand activities. Active loans have so far risen to new annual highs, with more than $24 billion in active loans. Due to fixed liquidity and demand for DEX trading, borrowing rates doubled in almost a year, less than a year.
Lending growth demonstrates more trust in collateral and improved tools to avoid liquidation. The majority of loans occur in large protocols using blue chip assets as collateral. NFT lending is not part of the trend, it never recovered, losing 97% of its volume.
Since January 23rd, active loans have continued to expand without drawdowns, and have also risen in the market slump in March and April. The current trend is expected to continue, and we will raise the loan to an even higher range.
Ethereum supports Defi Lending
Some of the lending protocols have seen the liquidation of ETH loans, but the market is regaining its foothold and restructuring ETH liquidity. After the latest market recovery, ETH collateral liquidity positions begin at $1,500.
ETH currently has a liquidation position of $1 billion, with other tokens increasing their influence. The lending also supports the Ethereum ecosystem and maintains the chain’s legacy status. The lending market is much smaller for Solana and other chains. But Kamino Lend is out of the pack. 20 billion dollars Collateral and aggressive loans cost $1.5 billion. The basic ecosystem is also growing, with active loans of over $1 billion.
The relative stability of ETH, which exceeds $2,500 in the past few weeks, has further pushed lending forward. Growth is a confusing expansion of Aave as a major protocol with growth in value for smaller new lending protocols.
Aave still leads Defi Lending
The bulk volume of active loans comes from the Aave protocol, which has recovered from the bare market to emerge as a major liquidity hub.
Aave carries over $16.9 billion on active loans, replacing the compound as the leader of the previous Bull Cycle. As a result of growth, native Aave tokens have been trading near the top range for $286.87 for the past three months.
Aave earned $24.99 on collateral, supporting healthy excess collateral ratios. In total, the Ethereum ecosystem was supplied $3.358 billion Collateral accounts for approximately 33% of the entire defi ecosystem.
The smaller protocol also shows significant growth in new loans over the past month. Maple Finance is a leader, with borrowings rising by more than 42%. Morpho, Spark and Fluid have also increased their aggressive loans over the past month.
Credit financing is becoming one of the hallmarks of the current cycle. The lending landscape is even more diverse, even if controlled by Aave. Over the next few months, Trump Family Fund World Liberty Fi will also be taking part in its own lending safe and native Stablecoin.
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