Crypto lending market plunges 43% as CeFi collapse reshapes market, survey shows
The total size of the crypto lending market fell to $36.5 billion in Q4 2024, down more than 40% from its all-time high in late 2021.
The crypto lending market remained far from its former highs at the end of Q4 2024, with analysts at Galaxy Digital estimating total loans outstanding at $36.5 billion, well below the $64.4 billion peak seen in late 2021. In a research report on April 14, Galaxy attributed the decline to the “decimation of lenders on the supply side, and funds, individuals, and corporate entities on the demand side.”
CeFi lenders were hit the hardest during the 2022–2023 downturn. Some of the largest centralized…
