In the ever-evolving world of decentralized finance, keeping an eye on growth metrics can reveal where the action is heating up. Token Terminal, a go-to platform for crypto analytics, recently spotlighted the top lending protocols based on their 7-day percentage growth in active loans—the outstanding borrowed amounts that generate interest. This snapshot shows some familiar names and a few rising stars making waves.

Active loans are a key indicator of a protocol's health and user engagement in DeFi. They represent the total value of deposits currently borrowed out, essentially the "working capital" earning yields for lenders. Higher growth here often signals increased borrowing demand, better rates, or new features drawing in users. Let's break down the leaders from this week's movers.

Leading the Charge: Venus Protocol (XVS)

Kicking off the list is Venus Protocol, clocking in at $1.0B in active loans with a solid 12.0% weekly uptick. Built on the BNB Chain, Venus is an algorithmic money market where users can lend and borrow a variety of assets like BTC, XRP, and stablecoins with low fees and high speed. It's designed for efficiency, making it a favorite for those seeking quick, cost-effective DeFi plays. If you're holding XVS, the governance token, you get a say in protocol upgrades and can earn rewards.

Hydration (HDX): Polkadot's Liquidity Hub

Next up, Hydration (formerly HydraDX) with $50.1M and a 10.6% growth. This Polkadot-based protocol unites swaps, lending, and its Hollar stablecoin in a scalable appchain. HDX holders govern the platform and earn staking rewards, while features like hydrated farms boost yields. It's all about frictionless liquidity across assets, perfect for cross-chain enthusiasts.

Spark (SPK): Stablecoin Yield Powerhouse

Spark grabs the bronze with $2.5B in active loans and 9.8% growth. As an onchain capital allocator, Spark deploys funds across DeFi, CeFi, and real-world assets for consistent yields. Its sUSDS and sUSDC products offer fee-free income on stablecoins, backed by governance-defined rates. SPK stakers earn points and influence decisions, making it a go-to for stable, programmable earnings.

Morpho (MORPHO): Permissionless Lending Innovator

At fourth, Morpho boasts $3.8B and 9.2% growth. This protocol optimizes lending with peer-to-peer matching for better rates and higher collateral factors. It's trustless, efficient, and developer-friendly, letting anyone curate vaults or build apps on its infrastructure. MORPHO holders govern this resilient platform, ideal for those chasing improved DeFi efficiency.

Jupiter (JUP): Solana's Expanding Ecosystem

Jupiter Exchange enters at fifth with $622.8M and 9.0% growth. Known as Solana's top DEX aggregator, Jupiter recently rolled out Jupiter Lend, offering high loan-to-value ratios and low liquidation penalties. JUP powers governance in this superapp, which spans swaps, perps, and now lending—catering to mobile-savvy traders.

Ether.fi (ETHFI): Staking Meets Lending

Ether.fi follows with $7.9M and 8.9% growth. This non-custodial staking protocol lets users earn on ETH, BTC, and stables while accessing a crypto Visa card. ETHFI governs the DAO, directing growth for liquid staking derivatives like eETH. It's bridging DeFi with real-world spending, appealing to yield seekers.

Maple Finance (SYRUP): Institutional-Grade Yields

Seventh is Maple Finance at $1.9B with 8.4% growth. Focusing on onchain asset management, Maple offers secured loans to institutions, yielding products like syrupUSDC. SYRUP enables staking and governance, blending TradFi expertise with DeFi for reliable returns.

Radiant Capital (RDNT): Omnichain Money Market

Radiant Capital hits $66.6M and 7.2% growth. This cross-chain lender unifies liquidity across blockchains using LayerZero tech. RDNT incentives reward dynamic liquidity providers, emphasizing sustainability and low-risk operations.

Euler (EUL): Modular DeFi Builder

Ninth place goes to Euler with $1.3B and 6.3% growth. Euler's modular setup lets users create custom lending markets permissionlessly. EUL governs this flexible platform, supporting volatile assets and advanced risk management.

BendDAO (BEND): NFT Liquidity Specialist

Rounding out the top ten is BendDAO at $6.5M with 6.1% growth. This NFT-focused protocol offers peer-to-pool lending against NFTs like CryptoPunks or BAYC. BEND tokens drive governance, making it a niche player for turning illiquid NFTs into quick ETH loans.

This surge in active loans across these protocols points to a broader revival in DeFi borrowing, possibly fueled by improving market sentiment and innovative features. Whether you're a lender chasing yields or a borrower leveraging assets, these platforms offer tools to navigate the crypto landscape. Keep an eye on Token Terminal (tokenterminal.com) for ongoing updates, and remember, always DYOR before diving in. What's your take on this week's movers?