Ethereum continues to lead the on-chain lending sector, with active loan volumes reaching over $28 billion, according to Token Terminal data. This figure is approximately ten times larger than that of the second-largest network. Since January 2023, Ethereum's active loans have surged tenfold from their previous lows. Token Terminal highlights that 'active loans' refer to assets currently being lent out and accruing interest, providing a more accurate measure of a lending platform's operational scale and interest income generation compared to deposit data.