Galaxy: The $25 billion crypto lending market is now dominated by "transparent" institutions
Jinse Finance reported that 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 outstanding loans in the market have approached $25 billion. According to Galaxy Research data, since the beginning of 2024, the size of the cryptocurrency lending market has grown by more than 200%. The latest quarterly market size has reached the highest level since the peak in the first quarter of 2022. However, the current market size has not yet recovered to the peak of $37 billion at that time. Alex Thorn, Head of Research at Galaxy, stated that the main difference between now and 2022 is the emergence of more centralized finance lending platforms and a significant increase in overall transparency. Thorn said on Sunday that he is proud of this data chart and the transparency of the data providers, adding that this represents a huge change compared to previous market cycles.
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