温馨提示：本站仅提供公开网络链接索引服务，不存储、不篡改任何第三方内容，所有内容版权归原作者所有
AI智能索引来源：http://www.bee.com/ja/48193.html
点击访问原文链接

Galaxy Research Report Summary: Who is the protagonist in the crypto lending market? | Bee Network

进入原网站 导航首页
Galaxy Research Report Summary: Who is the protagonist in the crypto lending market? | Bee Network Login トレンドニュース ミーム・ローンチパッド AIエージェント デサイ トップチェーンエクスプローラー 初心者向け 100x コイン ビーゲーム 重要なウェブサイト 必須のアプリ クリプトセレブリティ デピン ルーキーズ・エッセンシャル トラップディテクタ 基本的なツール 高度な Web サイト 交換 NFTツール こんにちは、 サインアウト Web3 ユニバース ゲーム ダップ ミツバチの巣 成長するプラットフォーム 広告 検索 英語 コインをリチャージする ログイン ダウンロード Web3 ユニ ゲーム ダップ ミツバチの巣 広告 ホーム-分析-本文 Galaxy Research Report Summary: Who is the protagonist in the crypto lending market?分析11か月前更新ワイアット 34,2702 12

Original article by: Zack Pokorny, Galaxy Research Analyst

Odaily Planet Dailyが編集（ ＠OdailyChina )

Translator | Ethan ( @ethanzhang_web3 )

The State of Crypto Lending report was released by Galaxy Digital on April 14, 2025, and provides an in-depth analysis of the past, present, and future trends of the 暗号 lending market. Since the emergence of the cryptocurrency market, lending products have been integrated into the crypto financial ecosystem and are of great importance. Compared with traditional finance, crypto lending has shown extraordinary potential and innovation possibilities with decentralization and blockchain technology, but innovation and risks coexist, and the market development is ups and downs.

The report details the participants, market size and dynamics of crypto lending, digs deep into the risks, technical obstacles and regulatory situations faced, and focuses on comparing the two sub-markets of CeFi (centralized finance) and DeFi (decentralized finance), showing the differences, intersections and integration trends between the two. In addition, it talks about how to strike a balance between the freedom and transparency of DeFi and the stable supervision of traditional finance, which is still one of the key problems in the crypto lending industry.

Because the original text is long and contains many key points, in order to facilitate readers to quickly obtain core information, Odaily Planet Daily has edited it, taking the core content as the main line, extracting key points and summarizing key information.

市場 Overview and Size According to the report, the cryptocurrency lending market started in 2017 and reached a peak of $64.4 billion in 2021. However, by the fourth quarter of 2024, the total size of the market had dropped to $36.5 billion, a decrease of 43%. This change was mainly driven by multiple factors, especially cyclical fluctuations in the market and risk events such as platform bankruptcy.

As crypto asset prices plummeted and market liquidity dried up, some CeFi lenders with larger lending scales went bankrupt in 2022 and 2023. Most notably, Genesis, Celsius Network, BlockFi, and Voyager filed for bankruptcy in the past two years. This caused the total size of the CeFi and DeFi lending markets to plummet by about 78% from the peak in 2022 to the trough of the bear market, and CeFi lending lost 82% of its open borrowings.

Some of the major players in the CeFi and DeFi crypto lending market, past and present

Changes in CeFi and DeFi lending markets The report analysis shows that there is a certain correlation between the shrinking CeFi lending market and the rise of the DeFi lending market. In the early stages of the cryptocurrency market, the CeFi lending market dominated, mainly dominated by some well-known platforms such as Genesis, Celsius and BlockFi. However, with the rise of decentralized finance (DeFi), the market share of CeFi lending platforms has gradually been divided, and the DeFi lending market has shown a stronger growth momentum.

CeFi lending market: As of the fourth quarter of 2024, platforms such as Tether, Galaxy, and Ledn still dominate the CeFi lending market, with total loans reaching US$9.9 billion, accounting for 88.6% of the CeFi market, which also accounts for 27% of the entire crypto lending market.

DeFi lending market: DeFi lending platforms have grown particularly rapidly, thanks to their decentralized governance model, transparency, and financial services without the need for intermediaries. Since $1.8 billion in the fourth quarter of 2022, the DeFi lending market reached $19.1 billion in the fourth quarter of 2024, an increase of nearly 10 times.

Influencing factors The high volatility of the cryptocurrency market is one of the main factors affecting the crypto lending market. Especially during the cryptocurrency bull market in 2017 and 2021, the demand for lending surged and the market size expanded rapidly. In the bear market, due to the decline in the price of crypto assets, lending platforms faced huge liquidation pressure, resulting in the risk of capital chain rupture and bankruptcy for many platforms.

From 2022 to 2023, large CeFi platforms such as Genesis, Celsius, and BlockFi went bankrupt one after another, causing a sharp drop in the market. In particular, during the bankruptcy of Celsius, its debt of about $15 billion brought a huge impact to the market. In addition, the bankruptcy of these platforms exposed the lack of effective risk management mechanisms and transparency of many platforms in the crypto lending market, and also highlighted the urgent need for supervision and improvement of risk prevention and control measures in the crypto lending market.

The difference and integration between CeFi and DeFi lending CeFi and DeFi lending platforms in the crypto lending market have significant differences in operating mechanisms, risk management, and user experience. The interaction and integration of the two will determine the future development pattern of the crypto lending market.

Features and Challenges of CeFi Lending CeFi lending platforms are usually operated by centralized entities, similar to banks or credit institutions in traditional finance. These platforms tend to conduct strict credit assessment and risk control to ensure the repayment ability of loans, and conduct detailed classification and pricing of loan products.

Advantages: CeFi lending platforms usually provide higher liquidity and more stable loan products, which is especially important for risk-averse investors. The platform usually relies on traditional financial management methods to control risks and is able to operate within the regulatory framework, so it is safer.

Disadvantages: The centralized structure means that the platform has the risk of single point failure, especially in the absence of effective supervision. If the platform is poorly managed or has operational problems, it may lead to large-scale financial losses. In addition, the platforms centralized management of personal data and assets may lead to the risk of privacy leakage or abuse.

Features and Challenges of DeFi Lending Unlike CeFi, DeFi lending platforms operate in a decentralized manner. All borrowing and lending operations rely on smart contracts for automatic execution, and users do not need to rely on any intermediary platform. This decentralized feature makes DeFi lending platforms more transparent and competitive in the market.

Advantages: The smart contracts of DeFi lending platforms guarantee decentralization and transparency, and users can check the flow of funds on the platform at any time. Since there is no centralized manager, the users data privacy is better protected. In addition, the interest rates of DeFi lending platforms are flexible and usually high, attracting a large number of investors seeking high returns.

Disadvantages: However, DeFi lending platforms still face technical risks, especially security issues such as smart contract vulnerabilities and cyber attacks. Due to the lack of legal protection, it is difficult for users to seek traditional legal assistance when encountering disputes. In addition, the liquidity of DeFi platforms may be affected by market fluctuations, resulting in insufficient liquidity.

The integration trend of CeFi and DeFi Although there are significant differences in the way CeFi and DeFi lending platforms operate, as the market matures, the trend of integration between the two is becoming more and more obvious. Some CeFi platforms have begun to introduce decentralized technologies into their lending products, using blockchain technology to improve transparency, reduce costs, and enhance the security of the platform.

At the same time, some DeFi platforms have also begun to introduce CeFis risk management experience to improve the platforms user experience and service quality. For example, DeFi platforms have introduced new insurance mechanisms, custody services, and compliance tools to increase user trust and enhance the security and stability of the platform. In the future, with the advancement of technology and further development of the market, CeFi and DeFi lending platforms may gradually find a balance and give full play to their respective advantages.

Conclusion and Thoughts Judging from market trends, the rise of DeFi lending has the potential to reshape the entire crypto-financial ecosystem. It not only changes the way lending is done, but also provides users with more competitive interest rates and greater transparency. However, to truly replace CeFi, DeFi lending platforms must make more efforts in technology, network security, and regulatory compliance.

In general, the current status of the crypto lending market shows a financial ecosystem full of opportunities and challenges. The transition from CeFi to DeFi reflects the trend of the financial market gradually moving towards decentralization. However, as the market develops, problems and risks are gradually emerging. Problems such as platform bankruptcies and lagging supervision warn us that decentralization does not mean completely risk-free, and the market still needs to find a healthier and more sustainable development path.

This article is sourced from the internet: Galaxy Research Report Summary: Who is the protagonist in the crypto lending market?

Related: AB Charity Foundation sets sail to explore a new paradigm of global public welfare of institutional trust + technology-d Recently, AB Charity Foundation announced its official launch and launched a new official website www.ab.org, marking the official launch of a global public welfare network based on institutional trust and technology-driven. AB Charity Foundation is an international non-profit organization headquartered in Ireland with independent legal status. It aims to work with global governments, public welfare organizations and technology communities to reshape the future public welfare trust mechanism and promote sustainable development. The governance structure of AB Charitable Foundation is composed of politicians from many countries. Bertie Ahern, former three-time Irish Prime Minister and the main promoter of the Northern Ireland Peace Agreement, is the Chairman of the Board of Directors. The board members include Lawrence Gonzi, former Prime Minister of Malta, Peter Medgyessy, former Prime Minister of Hungary, Danilo Turk,…

#分析#暗号# デフィ# マーケット# ツール#ウェブ3© 版权声明配列 上一篇 24H Hot Coins and News | The Federal Reserve will not be affected by political pressure; Humanity Protocol is about to l 下一篇 ZK collapsed. Are the four kings of Layer2 doing well now? 相关文章 AI Agent Weekly Report | Cookie DAO: Sapien Snaps Completed; VADER Drops Over 50% Weekly (August 18-24)Recommended Artic 6086cf14eb90bc67ca4fc62b 23,622 1 SOLの時価総額が1000億を超えたら、Solanaの可能性と制約についてお話ししましょう 6086cf14eb90bc67ca4fc62b 41,230 RWA Weekly Report | US SEC Commissioner: Tokenized securities are still subject to regulation; Cayman Islands plans to a 6086cf14eb90bc67ca4fc62b 26,453 9 熱いBitcoins market share remains high, is there still a chance for altcoins to explode? 6086cf14eb90bc67ca4fc62b 31,033 2 24H Hot Coins and News | Jun Ji-hyuns husband lost 15 billion won in cryptocurrency trading and became a hot topic; US V 6086cf14eb90bc67ca4fc62b 30,230 4 24-Hour Hot Coins and News | The U.S. Department of Commerce collaborates with Oracle to bring macroeconomic data to blo 6086cf14eb90bc67ca4fc62b 23,639 2件のコメント コメントを残すにはログインが必要です！ すぐにログイン ムラーン ゲスト 别别别

3ヶ月前 #BeelieverOQK1FJC ゲスト Fine thinking

11か月前 Bee.com 世界最大の Web3 ポータル パートナー コインカープ バイナンス コインマーケットキャップ CoinGecko コインライブ 鎧 Bee Network APP をダウンロードして、Web3 の旅を始めましょう 白書 役割 よくある質問 © 2021-2026.無断複写・転載を禁じます。. プライバシーポリシー | 利用規約 Bee Networkアプリをダウンロード そしてWeb3の旅を始めましょう 世界最大のWeb3ポータル パートナー CoinCarp Binance CoinMarketCap CoinGecko Coinlive Armors 白書 役割 よくある質問 © 2021-2026.無断複写・転載を禁じます。. プライバシーポリシー | 利用規約 検索 検索インサイトオンチェーン社交ニュース 热门推荐： エアドロップハンター データ分析 クリプトセレブリティ トラップディテクタ 日本語 English 繁體中文 简体中文 Tiếng Việt العربية 한국어 Bahasa Indonesia हिन्दी اردو Русский 日本語

智能索引记录