Market Maker Flowdesk Says Crypto Credit is Finding a Fragile Balance
Stream Finance’s recent disclosure of a default and $93 million loss, combined with October’s $20 billion crypto crash, has left digital-asset lenders scrambling to unwind risk while keeping credit lines robust, according to a new note from Flowdesk.
Flowdesk says leverage is getting reduced as traders reassess counterparties, but credit hasn’t frozen. Borrowing demand for SOL, XLM, ENA, APT and BTC remains “robust,” Flowdesk wrote, mostly tied to hedging and funding strategies rather than directional bets.
Yields for low-risk blue chip lending pools like Maple and Jito have seen compression, but remain stable and well above the Chainlink DeFi Yield Index of 5% and 10 year treasury yields.
Flowdesk’s credit desk said it has…
