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Data Insights: Lending

Binance Research (Keng Ying Sim)


  • Data Insights: Lending is a compilation of charts & insights by Binance Research on the lending industry in the last 365 days.

  • Overview: Lending TVL ranks 3rd after DEX and Liquid Staking. Despite the various crypto setbacks, builders are not deterred, as seen by a 71.7% increase in lending protocols. However, adoption shrank as measured by a 67.8% decrease in total borrowed.

  • VCs Interest in Lending: 45 lending projects raised funds. In the last four quarters. CeFi lending raised 60.1% more than non-CeFi lending in funding, even though there are 10x more non-CeFi lending projects.

  • Top Performing Protocols: Aave leads with $5.9B TVL. Aave, JustLend, and Compound are the top three in TVL. However, high TVL does not necessarily translates to high DAU. Radiant's DAU surpassed Aave a few times this year, but Aave still maintained the leading position most of the time.


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About Binance Research: Binance Research is the research arm of Binance, the world's leading cryptocurrency exchange. The team is committed to delivering objective, independent, and comprehensive analysis and aims to be the thought leader in the crypto space. Our analysts publish insightful thought pieces regularly on topics related but not limited to, the crypto ecosystem, blockchain technologies, and the latest market themes.

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