CoinEx News: DefiLlama data as of May 5, 2026 showed a sharp 30-day divergence across major DeFi lending protocols. Aave V3 TVL fell to $14.73 billion from $23.75 billion, down about 38%, while its borrowed value dropped by roughly $5.0 billion; over the same period, Spark TVL rose 45% to $5.53 billion and Morpho TVL rose 9% to $7.50 billion.

The rotation points to lenders and borrowers seeking alternative yield and collateral venues as Aave’s liquidity base contracts, putting Spark and Morpho in focus as share-gain beneficiaries.