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Galaxy: The $25 billion Crypto Assets lending market is now dominated by "transparent" institutions.


The cryptocurrency lending market has never been as transparent as it is now, with leading institutions including Tether, Nexo, and Galaxy. In the third quarter of this year, the total amount of outstanding loans in the market has approached 25 billion USD. According to data from Galaxy Research, since the beginning of 2024, the growth of the cryptocurrency lending market has exceeded 200%. The market size for the latest quarter has reached the highest level since the peak in the first quarter of 2022.
However, the market size has not yet recovered to the peak of 37 billion dollars at that time. Alex Thorn, head of research at Galaxy, stated that the main difference between now and 2022 is that there are more newly emerging centralized finance lending platforms and the overall transparency has significantly improved. Thorn expressed pride in this data chart and the transparency of the data providers on Sunday, adding that this represents a huge change compared to "previous market cycles."
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