The total crypto lending market has yet to recover from the collapse of top CeFi lenders, but DeFi borrowing has made a 959% recovery from the bear market bottom.
The crypto lending market’s size remains significantly down from its $64 billion high, but decentralized finance (DeFi) borrowing has made a more than 900% recovery from bear market lows.
Crypto lending enables borrowers to use their crypto holdings as collateral to obtain a crypto or fiat loan, while lenders can loan their holdings to generate interest.
The crypto lending market is down over 43%, from its all-time high of $64.4 billion in 2021 to $36.5 billion at the end of the fourth quarter of 2024, according to a Galaxy Digital research report published on April 14.
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