DEFI Mkt Loans Byproto
DeFi
Outstanding borrowed value, split across the largest lending protocols.
Why it matters
To see which lending markets are actually extending credit, and how much.
How it is built
Each series is one protocol's borrowed balance in dollars, summed over all the chains it runs on.
What to watch
Comparing a protocol's borrowed balance against its deposits gives its utilization, which drives both its rates and its fragility.