POPA ReconActive Crypto Loans Are Down 42% YTD
Active Crypto Loans Are Down 42% YTD Since the beginning of 2026, active loans across the largest lending protocols have declined from $35.3B to $20.4B (-42.3%). Despite the sharp contraction, activity remains well above bear-market levels seen in 2022–2023. Aave remains the dominant player, accounting for 46.5% of all active loans, or approximately $9.5B. It is followed by Morpho ($3.5B) and Spark ($1.6B). Crypto lending is normalizing after a period of elevated leverage, but the sector remains significantly larger than in the previous cycle. 👉 https://cryptorank.io/tags/lending-borrowi…
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