Crypto-backed lending market hits $56B, still 40% below 2025 peak
- —Crypto-backed lending market at $56.16B in Q2 2026, down 16.78% QoQ
- —Volume is 40% below the 2025 peak; centralized lenders overtook DeFi for the first time since Q3 2023
- —Ledn: $757M outstanding loans at 46% LTV, $11.5B originated, $200M in the past 90 days
- —Coinbase's Morpho product: over $1.4B in loans against roughly $3B in collateral
Why it matters: Growing collateralized lending eases BTC sell pressure, but a 28.6–37.5% price drop could trigger mass collateral liquidations.
Source: Happycoin.club