Crypto Lending Market Declines 43% to $36.5B in Q4 2024

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2025-04-15 10:37:02

The crypto lending market has declined 43% to $36.5 billion in Q4 2024, according to a Galaxy report. The decline stemmed from the collapse of major lending platforms during the 2022-2023 bear market. Despite the overall contraction, the market rebounded 157% from its Q3 2023 low of $14.2 billion. The CeFi lending market, in particular, saw huge disruption following bankruptcies of dominant players and peaked at an estimated $34.8 billion in outstanding loans before dropping to $6.4 billion. By Q4 2024, it had rebounded to $11.2 billion, still 68% below its all-time high but 73% higher than the bear market low. The rebound is accompanied by greater concentration among fewer players, with Ledn, Galaxy, and Tether dominating the market.

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