Q3 DeFi lending volume rose to $41B, spurred by airdrop farming

DeFi lending volume in the third quarter grew by $14.52 billion from the previous quarter to a total of $40.99 billion, CryptoPotato reported, citing a report from cryptocurrency financial services firm Galaxy Digital. The report noted that the popularity of airdrop incentive programs during the quarter likely contributed to the growth. Over the same period, the broader category of crypto-collateralized loans, which includes DeFi lending, increased by $20.46 billion to a total of $73.59 billion.