Crypto borrowing hits record high, but with stronger collateral this time
Cryptocurrency-backed borrowing hit a record $73.6 billion in the third quarter, marking the industry’s most leveraged quarter on record, but the makeup of that leverage looks significantly healthier than during the 2021-2022 cycle. According to Galaxy Research, the sharp increase is largely driven by on-chain lending, which now accounts for 66.9% of all crypto-collateralized debt, […]
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