Base Lending Surges Past $2.75 Billion as Morpho and Aave Take the Lead

Lending on Base has reached an all-time high of $2.75 billion, with Morpho and Aave leading the way.

According to reports from Artemis, this peak was achieved on September 10, following a surge in lending activity in late August.

The record reflects the rapid growth of credit on Coinbase's Layer 2 network, which is facilitated by Base.

Morpho accounts for approximately $3.94 billion of the total value locked (TVL) on Base, while Aave V3 follows closely with a TVL of around $513 million.