Near's DeFi lending market demonstrates robust growth and balanced activity, with borrow transactions increasing 320% from Q1 to Q4 2024, reaching 22,506 transactions. USDC emerged as the dominant token in Q1, accounting for $1.18 million in borrowed volume. The lending ecosystem shows near-parity between borrowing and repayment activities, with borrow transactions slightly leading at 51.26% compared to 48.74% of repayments.