Active Crypto Loans Plunge 42% YTD as DeFi Deleverages

Active loans across the largest crypto lending protocols have fallen from $35.3 billion at the start of 2026 to $20.4 billion today, a 42.3% year-to-date contraction that marks the sharpest deleveraging cycle the sector has seen since the 2022 credit unwind. Aave remains the dominant venue, holding…