Crypto lending protocols have experienced a significant decline in deposit volumes, dropping from approximately $125 billion in October 2025 to $79.6 billion, marking a 36% decrease. The majority of this reduction is attributed to a few key protocols. Aave saw a decrease of $27.6 billion, Spark Protocol $5.4 billion, Euler Finance $2.6 billion, Fluid Protocol $2.4 billion, and Compound $2 billion. These five protocols collectively account for $40 billion of the $45 billion total decline.