DeFi Analytics 21st Feb 24

Borrowing and Lending

Liquidity-weighted average lending yields across Aave & Compound

• Since early this month, stablecoin yields have trended upwards with USDT lending yields spiking as high as 16%
• Algorithmic stablecoin DAI, also saw a similar uptick and now trades on par with other dollar-collateralised stablecoin

Total Stablecoin value locked in Aave and Compound

USDC TVL

USDT TVL

DAI TVL

TUSD TVL

WBTC TVL

WETH

• This month also brings a strong and sustained inflow of ETH tokens into the borrowing and lending markets.
• We see both the borrowing demand for the token, as well as the lending liquidity available drastically increase
• The same could only be said for BTC earlier on in the month, as new deposits the increase in lending liquidity has since plateaued

Uniswap V3

Uniswap V3 Hourly Volumes

Uniswap V3 Hourly Volumes

Liquidations

Aggregate Liquidations across Aave & Compound

• This month has so far seen a modest amount of liquidations occur so far, the largest of which was a  $127K TUSD that was collateralising an ETH loan on AAVE
• The transaction was carried out by an MEV bot, which used a combination of flash loans and atomic swaps to capitalise on the opportunity single transaction