CryptoQuant: Total ETH lending on AAVE v3 reached 1 million ETH in January, a 48% increase month-over-month.

PANews reported on February 5th that, according to CryptoQuant research data, lending demand in the crypto market is expected to rebound in early 2026. Stablecoin lending activity on AAVE v3 rebounded slightly after bottoming out in December 2025, with total lending volume increasing from the December low, indicating a gradual recovery in market leverage demand. However, the recovery is relatively mild, and the market remains in a cautious rebuilding phase. Furthermore, credit activity on the CeFi lending platform Nexo also recovered in early 2026, with January credit withdrawals reaching $24 million, a 9% increase month-over-month, but lending activity remains below mid-2025 levels.

Ethereum lending demand saw significant growth from September 2024 to January 2025. In January 2026, the total amount of ETH lent on AAVE v3 reached 1 million ETH, a 48% increase month-over-month and 2.7 times the level in September 2024. ETH's share of collateral on Nexo has risen from 9% in Q2 2024 to 12%, indicating that ETH holders are more inclined to obtain liquidity through lending rather than direct selling, while Bitcoin still accounts for 56% of the total collateral.