The DeFi lending sector has recently experienced a notable advancement, according to CryptoDiffer, a renowned crypto analytics platform. Aave, JustLend, and SparkLend have emerged as the top three DeFi lending protocols in terms of total value locked (TVL). CryptoDiffer took to its official social media account to announce this development.
The concept of DeFi lending involves depositing cryptocurrency assets on a platform where other users can borrow them, enabling the lender to earn interest. Aave, JustLend, and SparkLend have secured the top positions in this aspect.
Aave has claimed the first position with a TVL of $12.6 billion. CryptoDiffer reports that Aave’s TVL has witnessed a growth 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 has secured the second spot with a TVL of $6.41 billion. According to CryptoDiffer, JustLend has experienced a change of approximately -0.68 in the past thirty days. It operates as a money market platform under TRON.
SparkLend has obtained the third position among DeFi lending entities with a TVL of approximately $3.01 billion. CryptoDiffer highlights that SparkLend holds a significant position among lending platforms and utilizes a credit line provided by Maker. In the past thirty days, SparkLend has seen an impressive increase of 27.3% in its TVL.
In summary, Aave, JustLend, and SparkLend have emerged as the leading DeFi lending protocols, offering substantial value locked in the form of cryptocurrency assets.
