Aggregate metrics across 4 Ethereum lending protocols. Source: DefiLlama, the Liquidator Economy DB, and FRED.
As of May 7, 2026, Ethereum lending holds $32.6 billion of total supply across 4 protocols, down 23.9% vs last month. Depositors are earning +197 bps over T-bills. The sector take rate is 5.3%.
Aave V3 holds 66.9% of active borrows, down 10.4 pp from a year ago. Morpho has gained 8.0 pp over the same window.
Aave V3 led outflows with −$15.1 billion of net withdrawals over the past 30 days.
May 2026 lost $167.92M of net supply across the four protocols. Aave V3 drove the move with −$363.60M.
WETH is the largest collateral USD at 18.7% of the sector total. ETH-family assets (ETH, LSTs, LRTs) make up 62% of the deposit base.
WETH is the largest active borrows at 43.5% of the sector total. Stablecoins account for 50% of all on-chain credit.
| # | Asset | Protocol | Total Supply | Available Liquidity | Borrowed | Util | Supply APY | Borrow APY | Bar |
|---|---|---|---|---|---|---|---|---|---|
| 1 | WETH | Aave V3 | $4.58B | $216.82M | $4.36B | 95.3% | 2.02% | 2.57% | |
| 2 | WEETH* | Aave V3 | $2.94B | $2.94B | $126.20K | 0.0% | 0.00% | 1.00% | |
| 3 | WBTC | Aave V3 | $2.35B | $2.27B | $80.02M | 3.4% | 0.01% | 0.36% | |
| 4 | WSTETH | Spark | $2.19B | $2.19B | $32.42K | 0.0% | 0.00% | 0.00% | |
| 5 | USDT | Aave V3 | $1.96B | $111.89M | $1.85B | 94.3% | 5.83% | 6.87% | |
| 6 | USDC | Aave V3 | $1.92B | $169.78M | $1.75B | 91.2% | 3.25% | 3.96% | |
| 7 | WSTETH | Aave V3 | $1.89B | $1.82B | $62.61M | 3.3% | 0.00% | 0.04% | |
| 8 | USDS* SPK Farming Pool | Spark | $1.08B | $1.08B | $0.00 | 0.0% | — | — | |
| 9 | CBBTC | Aave V3 | $992.33M | $978.30M | $14.02M | 1.4% | 0.00% | 0.32% | |
| 10 | WETH | Spark | $991.95M | $168.30M | $823.65M | 83.0% | 2.05% | 2.60% |
Datum Labs. (2026). Lending Intelligence Terminal: Sector Overview. Retrieved May 8, 2026 from https://lending-intelligence-terminal.vercel.app/.