The decentralized lending protocol Euler Finance has garnered attention as the fastest-growing lending platform in the DeFi space. Euler is known for its risk-adjusted lending design, which many in the industry consider to be its altimeter for altitude in lending activities. Euler’s Avalanche performance is a remarkable stretch for adoption and activity that has been heading up since mid-October. Only about 13 days old, launched on Avalanche, Euler Finance has wasted no time establishing itself as a dominant force. The protocol’s numbers are a testament to the intense traction it has gained in such a short time. With lending and borrowing activity reaching new highs, Euler is fast becoming a key pillar in the Avalanche DeFi ecosystem. Record-Breaking Borrowing and Supply Figures Currently, borrowing using Euler Finance ranks at an all-time high, with the amount of USDe borrowed standing at $16,101,840.38. This very recent and very close to the last data point surge is a clear sign of the ever-growing user trust in the protocol’s smart contract infrastructure and its ability to provide efficient, risk-minimized lending mechanisms. The amount of USDe borrowed through @eulerfinance reached a new all-time high of $16,101,840.38 Follow Euler Risk Pulse https://t.co/VCX78fG4kA pic.twitter.com/4t7M7dlZdT — IntoTheBlock (@intotheblock) April 22, 2025 However, it’s not only USDe that is demonstrating robust borrowing interest. The protocol as a whole has experienced across-the-board, explosive growth. The total supply on Euler has now reached $154 million, more than doubling since its launch. Almost more impressively, the total amount borrowed has crossed $113.3 million, which is about 2.6 times what was borrowed at the protocol’s launch. This path demonstrates not just how fast Euler is expanding but also reveals a burgeoning appetite from DeFi users for decentralized money markets that offer flexibility, security, and capital efficiency. 24-Hour Surge Shows Sustained User Activity Euler’s rapid growth isn’t just reflected in cumulative figures; it is happening in real time. The protocol recorded around $1.8 million in new supply and $2 million in fresh borrowing activity over the past 24 hours. This showcases active daily usage that goes beyond the initial launch hype. The most significant supplied assets over the past 24 hours were as follows: – USDC: $839,000 – AUSD: 769,000 – ggAVAX: $144,000 At the same time, the assets that were most in demand for borrowing were: – AUSD: $1.12 million – USDC: $740,000 – WAVAX: $123,000 These figures demonstrate that not only is there a wealth of diverse assets on Euler, but also that there is demand for stablecoins and native assets like ggAVAX and WAVAX, which are being used to power all sorts of strategies and trades across the Avalanche ecosystem. Explosive growth continues for @eulerfinance on @avax ! It's only been ~13 days since Euler launched on @avax . Check out these numbers: Total Supply: Reached $154M (over 2.2x growth since day 1!) Total Borrow: Crossed $113.3M (over 2.3x growth) Intense activity in the last… pic.twitter.com/lg6iAkPa8p — yasmin (@Haj1379) April 21, 2025 A Breakout Moment for Euler and Avalanche DeFi The expansion of Euler Finance on Avalanche is an indicator of something larger: the world of DeFi is starting to pay serious attention to Layer 1 blockchains besides Ethereum. Avalanche has emerged as a darling in this context—not just for its high throughput and low cost, but also because, compared to many other alternatives, it has been impressively ideologically and operationally compatible with a vision of decentralized finance. Euler’s success further makes Avalanche an attractive DeFi-friendly chain. Its integration with AVAX is already paying dividends. Users are flooding into the protocol, and that has the developers and liquidity providers of Euler watching closely to see how they can sustain this momentum in the coming weeks. According to Euler’s performance metrics and user trust that is on the increase, it’s apparent that this isn’t a temporary situation. The figures indicate a genuine, ongoing demand, and if they keep going in the same direction, Euler looks set to become a leading lending protocol that works across multiple blockchains. To sum up, Avalanche has been hit hard by Euler Finance; it has resulted in some very strong growth numbers for the DeFi space, especially in the first half of 2025. In terms of total assets — a figure that we will see later on in the analysis — squared away on the DeFi protocol, this space has passed $154 million in the supply-side figure. On the borrowing side, just shy of $113 million has appeared since Euler Finance started up in mid to late January. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. 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