Ethereum is quietly dominating one of DeFi’s most important verticals.

According to David from the Ethereum Foundation, nearly 90 percent of all crypto lending revenue is now generated on Ethereum and its Layer 2 networks. This is not a temporary spike. It reflects where real capital, real borrowers, and real liquidity are concentrating.

Lending is the backbone of DeFi. It requires deep liquidity, reliable infrastructure, composability, and risk aware users. Ethereum continues to win here because institutions, funds, and serious onchain participants trust its security model and execution environment.

Layer 2s are amplifying this advantage. Lower fees and faster settlement are pulling activity upward while keeping value anchored to Ethereum’s base layer. The result is scale without sacrificing security, exactly what lending markets need to grow sustainably.

This data point matters because revenue tells a clearer story than TVL hype. When most lending income flows through one ecosystem, it signals where demand actually lives.

Ethereum is not just leading in narratives. It is leading where money is made.

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$ETH ‌