Curve Finance loans climb 68% in Q3 as DeFi lending recovery lags

Curve Finance has recorded a 68% rise in active loans to $70.9 million in Q3 2026, moving above its 2025 closing balance while total DeFi lending has remained below that benchmark, according to figures cited by the protocol. Active loans increased from $42.18 million on June 30 to $70.9 million on Sep. 30. LlamaLend v2 accounted for about 84% of Curve’s net lending-debt increase during the quarter. Sector-wide active loans ended September at $32.8 billion, roughly 13% below the 2025 closing total. A proposed reUSD/sfrxUSD liquidity pool token market awaits a Curve DAO vote. DefiLlama data cited in Curve Finance’s quarterly update put the protocol’s outstanding loans above the $69 million recorded at the end of 2025.

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