Aave Secures Top Spot among DeFi Lending Protocols in Terms of TVL

The DeFi lending sector has recently witnessed a significant development. As per CryptoDiffer (a well-known crypto analytics platform), Aave, JustLend, and SparkLend have occupied the first three positions among the DeFi lending protocols in terms of total value locked (TVL). The analytics forum took to its official social media account to disclose this development.

Top Lending DeFi protocols by Total Value Locked (#TVL)#DeFi lending involves depositing #crypto assets on a platform, where other users can borrow them, allowing the lender to earn interest. $AAVE $JST $SPK $COMP $XVS $KMNO $LAB $INST $ZERO pic.twitter.com/gir5fiAOiI

— 🇺🇦 CryptoDiffer – StandWithUkraine 🇺🇦 (@CryptoDiffer) June 19, 2024

Aave, JustLend, and SparkLend Get Top Positions among DeFi Lenders in Terms of TVL

The platform shared a chart containing the top protocols offering crypto lending. In this respect, Aave secured the 1st position with a total value locked of up to $12.6 billion worth. As per the CryptoDiffer, the lending protocol saw a more than 10.5% rise in its TVL during the past 30 days. Aave operates as a protocol that provides interest on the users’ deposits. It also permits the consumers to borrow assets.

JustLend got the 2nd spot with a TVL of up to $6.41 billion. According to CryptoDiffer, the crypto lender saw a change of nearly -0.68 within the recent thirty days. It reportedly operates as a money market forum operating under TRON. In line with the chart, SparkLend obtained the 3rd place among the DeFi lending entities. It reportedly received a total value locked of approximately $3.01 billion.

SparkLend Sees a +27.3% Surge in TVL in 30 Days

CryptoDiffer added that SparkLend enjoys a significant status among the lending platforms. Additionally, it leverages a credit line that Maker provides. In the past thirty days, it has gone through an above 27.3% rise in its TVL.

Sourced from cryptonews.net.

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