Ethereum’s on-chain lending ecosystem just crossed $28 billion in active loans, marking a tenfold increase from early 2023 lows.

At the center of that growth is Aave, which now controls roughly 70% of Ethereum’s active lending market — giving Ethereum a massive lead over competing networks like Solana and Base.

While DeFi leverage still represents a small slice of the overall crypto market, the scale and concentration of lending activity highlight Ethereum’s continued dominance as the industry’s primary DeFi settlement layer.

#Ethereum #DeFi #Aave #OnchainLending