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      SparkLend Achieves Record 600,000 ETH in Deposits

      As of mid-September 2026, SparkLend has reached a new milestone by surpassing 600,000 ETH in deposits, marking an all-time high for the lending protocol. This significant increase follows a steady growth trajectory, with deposits rising from 380,000 ETH in late April to 516,000 ETH by mid-May, and ultimately crossing the 600,000 ETH threshold four months later.

      The total market size for SparkLend now stands at approximately $7.39 billion, with a total value locked (TVL) nearing $4.96 billion. Active loans on the platform amount to around $2.4 billion. The influx of deposits has been notably driven by large holders, or whales, who contributed about 88,320 ETH over the past six months, reflecting a trend among investors favoring conservative decentralized finance (DeFi) options.

      SparkLend operates as the flagship lending protocol within the Spark ecosystem, which is associated with Sky, previously known as MakerDAO. The borrowing of USDS on SparkLend has reached between $800 million and $900 million, indicating its role as a distribution engine for the stablecoin. Unlike many other lending markets, SparkLend employs governance-controlled interest rates and maintains a narrow collateral set, focusing exclusively on Ethereum after deprecating its Gnosis Chain deployment on September 14, 2026.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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