Though heavy liquidations in the last 24h Active loans reached $46.5B in mid-September 2025, ~4x growth year-over-year. • Aave: $30.1B, dominant with ~65% of total active loans. • Morpho: $4.27B (~9%). • Spark: $2.29B (~5%). • Fluid: $2.16B (~5%). Remaining six projects each hold < $2B individually (Kamino, Maple, Euler, Compound, Venus, Jupiter).

Though heavy liquidations in the last 24h

Active loans reached $46.5B in mid-September 2025, ~4x growth year-over-year.

• Aave: $30.1B, dominant with ~65% of total active loans.

• Morpho: $4.27B (~9%).

• Spark: $2.29B (~5%).

• Fluid: $2.16B (~5%).

Remaining six projects each hold < $2B individually (Kamino, Maple, Euler, Compound, Venus, Jupiter).

— Cryptopolitan (@CPOfficialtx) Sep 23, 2025