SparkLend Moves Past Morpho Blue as Ethereum Loans Rise 47%

SparkLend moved ahead of Morpho Blue in outstanding Ethereum lending after its loan balance rose 47.1% from July 29 to Oct. 27, changing the ranking between the two protocols. SparkLend’s Ethereum loan balance stood at $1.79 billion on July 29 and $2.64 billion on Oct. 27. Morpho Blue’s balance increased from $1.93 billion to $2.48 billion, a 29% rise. Aave V3 Core grew 4.5%, from $8.71 billion to $9.11 billion, and remained the largest of the three. The comparison tracks outstanding loans on Ethereum at two dates, rather than deposits or activity across all networks. One borrower group used about $190 million in Wrapped Ether (WETH) through SparkLend to repay positions on Aave V3 Core and Morpho Blue.

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