The crypto lending market is showing signs of life again. Centralized finance (CeFi) and decentralized finance (DeFi) platforms are experiencing a resurgence, with the latter leading.  

This rise follows a devastating collapse that saw major players like Celsius, Genesis, and BlockFi crumble. This left investors reeling and battered trust in the sector.

According to a recent report by Galaxy Digital, the total size of outstanding CeFi borrows as of Q4 2024 was $11.2 billion. This represented a 73% rise from the bear market lows when it reached $6.4 billion.

Despite this positive growth, the CeFi lending market remains significantly below its previous…