According to @MilkRoadDaily, the decentralized finance (DeFi) lending sector is undergoing a significant transformation, with the total value locked (TVL) across top protocols like Aave (AAVE), Euler, Spark, and Morpho approaching $60 billion, marking a 60% increase over the past year. A report by Artemis and Vaults.fyi attributes this growth to increasing institutional participation and the integration of DeFi as a backend financial layer for user-facing applications, a trend known as the "DeFi mullet." For instance, Coinbase's BTC-backed loans are powered by Morpho's backend, originating over $300 million in loans. Further signaling market maturation, crypto-native asset managers have seen their capital under management grow fourfold to over $4 billion since January. In a key development for traders, lending protocol Morpho has unveiled Morpho V2, which aims to bridge DeFi with traditional finance by introducing market-driven, fixed-rate, fixed-term loans with customizable terms, and support for portfolio collateral including real-world assets (RWAs).