The cryptocurrency lending market has never been more transparent, dominated by institutions such as Tether, Nexo and Galaxy. In the third quarter of this year, the total amount of outstanding loans in the market approached $25 billion.
According to Galaxy Research, the cryptocurrency lending market has grown by more than 200% since the beginning of 2024. The market size in the latest quarter reached its highest level since the peak of Quarter 1 in 2022. However, the market size has not yet recovered to the peak of $37 billion at that time.
Alex Thorn, head of research at Galaxy, said that the main difference between now and 2022 is that there are more centralized financial lending platforms emerging, and overall transparency has increased significantly.
Mr. Thorne said on Sunday that he was proud of the chart and the transparency of the data providers, adding that it was "a huge change from previous market cycles".
Galaxy: $25 billion Cryptocurrency Lending Market Now Dominated by "Transparency" Institutions
2025-12-01 05:19:03
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