Over the past six months, large investors have transferred approximately 88,320 ETH into the SparkLend protocol. Currently, the platform reports a total market size of around $7.39 billion, with the total value locked reaching nearly $4.96 billion.
The protocol experienced a significant influx of capital following the April 2026 exploit of the KelpDAO/rsETH bridge, which affected competing platforms. SparkLend remained unaffected by the incident, subsequently attracting over $1 billion in new deposits.
The platform's collateral is primarily composed of wrapped staked ETH. Several individual wallets have supplied assets in WETH and wstETH exceeding $100 million each. Users are increasingly utilizing these holdings to secure USDS stablecoin loans for leverage and yield strategies.
SparkLend officially discontinued its deployment on the Gnosis Chain on September 14, 2026. The protocol team stated that the move was intended to consolidate liquidity and focus risk management efforts on the main Ethereum ecosystem where most capital is concentrated.
