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Categories:

Hot right now:

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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

DeFi lending protocols gain $2.3B in TVL, fueling token outperformance

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On-chain lending protocols added $2.3 billion in value locked (TVL) over the past 24 hours, followed by a roughly $700 million increase in active loans and an average 7.7% price increase for lending-related tokens during the same period.

Decentralized lending protocols saw their TVL rise from $40.36 billion to $42.69 billion amid the market rally over the past day, according to DefiLlama data. This movement corresponds to a daily increase of approximately 6%.

Simultaneously, active loans jumped from $16.4 billion to $17.1 billion between April 21 and April 22, based on Token Terminal data.

Aave saw the most new loans, registering a $562 million increase in active debt and surpassing $11 billion. Interestingly, Aave’s revenue did not mirror the increase in loans, falling from $418,000 to $67,430 as of press time.

Among the top 10 lending protocols, Euler was the runner-up in terms of daily increase in active loans, with users borrowing almost $30 million over the past 24 hours.

Fluid and Compound also saw two-digit loan increases, with daily growths of $14 million and $13 million, respectively.

Lending tokens surge

The growing metrics for on-chain lending protocols were reflected in token prices, as this category registered a 7.7% average gain in the past 24 hours, according to CoinGecko. This is the fifth-best-performing crypto sector out of 22.

According to Artemis data, the daily average performance of lending-related tokens also outperformed the market’s average increase of 5.4%.

CryptoSlate data show that Maple Finance’s SYRUP led among tokens with a market cap of over $100 million, with a 15.2% increase. This is roughly twice the average performance of lending-related tokens.

Euler (EUL) also registered a two-digit price increase, with gains of 11.6% over the past 24 hours. AAVE climbed 8,2%, while MORPHO registered a positive 7.2% performance.

The post DeFi lending protocols gain $2.3B in TVL, fueling token outperformance appeared first on CryptoSlate.

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