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Report: over the past 2 months Dai and the USDC have become the most popular assets for decentralized lending

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This is largely because these two assets offer the only attractive yields in the market

According to Spencer Noon's latest DeFi report, Compound weekly borrowing has increased steadily since the beginning of the year, BlockBeats said. Earlier this month, Compound lending activity hit an annual high of $25.54 million. The average weekly loan was $14.7m in March, up 42.37% from $10.3m in February.

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In the past eight weeks, Dai has borrowed $61 million on Compound, a decentralized lending platform. The second largest loan was the USDC, which processed more than $20 million in loans over the same period. This is largely because the asset offers the only attractive yield on the market. Dai's average 30-day loan rate is 7.66%, compared with 2.27% for the USDC. By contrast, loans on other backed assets, such as ETH or ZRX, pay less than 0.02%.

ETH deposits have also surged in recent weeks, making it the most liquid Compound lending pool, with a total supply of more than $41.61 million at the time of publication. The biggest growth came in February, when ETH made $83 million available to the loan pool in less than a week. Meanwhile, Compound ETH in locked-in storage peaked at 517,000 in early march