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degen: DeFi lending hitting ATHs while your bank gives you 0.0000001% interest 🤣🔥 gonna put
decentralized finance lending surges in Q3, reaching a monumental $41 billion peak fueled by airdrops, novel lending products, and market
A new report by Galaxy Digital reveals record borrowing in crypto, driven by airdrops, new lending products, and price gains. DeFi lending peaked in Q3, nearing $41 billion, with a $14.5 billion increase. Total crypto lending hit $73.6 billion, surpassing previous highs. However, challenges arise in accurately tracking off-chain lending. The report also highlights the potential for double counting between CeFi and DeFi loan numbers due to lending practices. DeFi TVL has seen a significant drop post-stock market crash and subsequent events.
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