Galaxy: The $25 billion Crypto Assets lending market is now dominated by "transparent" institutions.

Golden Finance reports that the Crypto Assets lending market has never been as transparent as it is now, with leading institutions including Tether, Nexo, and Galaxy. In the third quarter of this year, the total amount of outstanding loans in this market has approached 25 billion dollars. According to data from Galaxy Research, the scale of the Crypto Assets lending market has grown by over 200% since the beginning of 2024. The market scale in the latest quarter reached its highest level since the peak in the first quarter of 2022. However, the market scale has not yet recovered to the peak of 37 billion dollars at that time. Alex Thorn, the research director at Galaxy, stated that the main difference compared to 2022 is the increased number of newly emerging centralized financial lending platforms and a significant improvement in overall transparency. Sorn stated on Sunday that he is proud of this data chart and the transparency of the data providers, adding that this represents a “huge change compared to previous market cycles.”