Crypto lender Ledn says the consumer bitcoin-backed loan market could grow nearly 300-fold to as much as $1 trillion within the next decade, as demand for borrowing against digital assets far outpaces actual usage.

The forecast accompanied new research conducted by consumer insights firm Protocol Theory, which surveyed 1,244 cryptocurrency holders across the U.S. and Australia between February and March this year. The study found that while 88% of respondents said they would consider using a crypto-backed loan or credit product, only 14% currently do so, revealing what Ledn described as a “6-to-1 consideration-to-adoption gap.”

Ledn estimates the bitcoin-backed consumer lending market currently stands at roughly $3 billion. By…