Tether and Coinbase among the largest central financing lenders (CEFI) in Crypto, according to Galaxy analyst
Tether Stablecoin Tether is the largest central financial lender (CEFI) in the area of digital assets, according to the new analysis.
Zack Pokorny, research analyst at Galaxy Digital, giant investment, Notes This was the lending company Galaxy and Bitcoin (BTC) LEDN, the second largest and second largest lending, respectively.
Tet Tether, Galaxy and LEDN and LEDN reached $ 9.9 billion at the end of the fourth quarter of 2024, and it includes approximately 89 % of the CEFI lending market and 27 % of the total coding lending market. Coinbase, Top Us Crypto Exchange, got the fourth largest loan book.
Alex Thurs, Head of Galaxy Research, He says The total size of the CEFI loan book at the end of last year was $ 11.2 billion, with 68 % of the highest level in 2022 ever at 34.8 billion dollars.
Defi (Defi) is a larger lending sector, with $ 19.1 billion of open borrowers via 20 requests for lending and 12 chains by the end of 2024, according to Pokorny.
The researcher notes that DEFI lending through these chains and applications increased by 959 % since the bottom was identified two years ago.
“Defi borrowed a stronger recovery than the CEFI show. Risk management practices for large lending applications on the series, the benefits of algorithm borrowing, exaggerated borrowing, and demand -based borrowing.”
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