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The encryption lending market is recovering: Tether accounts for 60% of the share, and DeFi loans have soared to a new high of 41 billion.

DAOplomacy

2025-12-01 09:00:18

Abstract generation in progress

The recent transparency of the cryptocurrency lending market has significantly improved, and the data from the third quarter speaks volumes.

In the area of centralized lending, the total amount of outstanding loans has approached the milestone of 25 billion dollars, which is the best performance since the first quarter of 2022. Although there is still a distance from the historical peak of 37 billion dollars, the recovery trend is already very obvious.

Tether is simply leading the pack in this arena - with a loan scale of $14.6 billion, it directly takes 60% of the market share. Nexo and Galaxy follow closely behind, occupying the second and third positions.

What deserves more attention is the explosion in the DeFi sector. The outstanding loans on decentralized applications surged by 54.8% in the third quarter, directly reaching $41 billion, setting a new historical record. This growth rate and scale have already surpassed the performance of centralized lending.

The entire encryption lending ecosystem is undergoing a reshuffle, and the rise of on-chain lending is indeed astonishing.

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just_another_fish

· 12-01 09:30

Tether is really going to hog the market, with a 60% share directly crushing the competition, it's a bit fierce. DeFi is where the real action is, rising 54.8% in a quarter, this growth rate is something no one can withstand. The lending market is truly rebounding, it feels like there's life again. On-chain lending has taken off, while CeFi is still struggling to keep up. I'm just laughing at USDT holding 60% of the market, this monopoly is really strong, DeFi needs to fight. To be honest, I was a bit surprised by DeFi's 41 billion, this volume is larger than I expected. Wait a minute, is this data real? It feels a bit exaggerated. Tether is dominant, other platforms are really under pressure. DeFi's explosion is reasonable, it's the end of the year, and this is the market trend. The rise of the lending market is a good thing, at least it shows the market is still alive.

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LeekCutter

· 12-01 09:28

USD is so strong, dominating 60%... feels like a big game is being played again. The rise in DeFi is insane, 41 billion directly breaking records, are we really about to go To da moon this time? Wait, is the recovery in the lending market a good thing, or is it going to play people for suckers again? Nexo and Galaxy are really being squeezed, tether says I'm enough on my own. On-chain lending has big pump over fifty points, I'm wondering who will bear this risk.

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GhostAddressHunter

· 12-01 09:18

USDT's top position is really unshakeable, with a 60% share directly crushing other competitors. The rise in DeFi is a bit outrageous, I really didn't expect 41 billion. Is Tether really that good at sucking blood? It feels a bit scary to have a monopoly. Finally, on-chain lending has started, the centralized model will eventually be washed away. 54.8% growth rate? This data is a bit alarming, is it true? Wait, is DeFi really going to surpass centralization? Is the landscape about to change? The lending pool is getting larger and the risks are also taking off. Are Nexo and Galaxy really that low-key, getting beaten by Tether?

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ColdWalletGuardian

· 12-01 09:16

USD is so fierce, it has eaten up sixty percent... DeFi is really taking off, the growth rate directly crushes CeFi.

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BearMarketBuyer

· 12-01 09:16

This wave of DeFi lending has really taken off, 41 billion is truly not an imaginary number. Tether has played this hand exceptionally well, holding a dominant 60% market share, what does that even mean? The rise in DeFi lending has outpaced centralized lending, the wind has really changed. Wait, centralized lending has only returned to 25 billion and they are already showing off? They are still far from the historical high. With this momentum in on-chain lending, it really feels like they are recovering losses. When DeFi surged by 54.8%, the centralized folks were still dragging their feet. With such a stable monopoly of USDT, who can shake that up?

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airdrop_whisperer

· 12-01 09:01

USDT is so powerful, taking six out of ten, other platforms are feeling a bit suffocated. The DeFi side is truly impressive, directly breaking the record with 41 billion, it feels like centralized days are going to be tough. I'm a bit worried about Tether being in such a dominant position... is it too centralized? The lending market is recovering losses, it's time to get active. This rise in on-chain lending feels like it's going to change the game.

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