The DeFi lending sector has recently experienced a notable advancement, according to CryptoDiffer, a renowned crypto analytics platform. Aave, JustLend, and SparkLend have claimed the top three positions among the DeFi lending protocols in terms of total value locked (TVL). This development was revealed by the analytics platform through its official social media account.
The top lending DeFi protocols by TVL include Aave, JustLend, SparkLend, COMP, XVS, KMNO, LAB, INST, and ZERO, as shown in the chart shared by the platform. DeFi lending involves depositing crypto assets on a platform where other users can borrow them, enabling the lender to earn interest.
Aave secured the first position with a TVL of $12.6 billion. According to CryptoDiffer, the lending protocol witnessed a TVL increase of more than 10.5% in the past 30 days. Aave functions as a protocol that offers interest on users’ deposits and allows them to borrow assets.
JustLend secured the second spot with a TVL of $6.41 billion. CryptoDiffer reported a change of nearly -0.68 in the past 30 days for this crypto lender. JustLend operates as a money market platform under TRON.
SparkLend claimed the third place among the DeFi lending platforms with a TVL of approximately $3.01 billion. CryptoDiffer highlighted that SparkLend holds a significant position among lending platforms and utilizes a credit line provided by Maker. Over the past 30 days, SparkLend experienced a surge of more than 27.3% in its TVL.
Overall, Aave, JustLend, and SparkLend have emerged as the leading DeFi lending protocols in terms of TVL, showcasing the growth and potential of the DeFi lending sector.