Coin

<ul class="news-points"> 
 <li>Private credit experienced a notable surge of 55% this year amid elevated interest rates.</li> 
 <li>Although crypto loans have risen to around $581 million, they remain below last year’s peak of nearly $1.5 billion.</li> 
 <li>Blockchain protocols charge less than 10% for crypto loans, while traditional providers seek double-digit rates.</li> 
</ul> 
Crypto-based loans have experienced a notable rebound of over 55% in 2023 as companies increasingly turn to blockchain-based financing amid elevated interest rates. The development was captured in a recent <a href="https://www.bloomberg.com/news/articles/2023-12-17/blockchain-based-private-credit-rebounds-in-crypto-with-55-jump-in-2023" target="_blank" rel="nofollow">report</a> by Bloomberg, noting that the resurgence marks a partial recovery from the crypto sector’s 2022 downturn. 
Citing data from RWA.xyz, a market intelligence platform monitoring on-chain protocols, the report noted that active private loans on blockchains had risen to $408 million by November 28. By press time, that figure had grown to approximately $581 million, per the latest numbers on RWA.xyz’s web app. The figure reflected the substantial growth since the beginning of the year. 
Meanwhile, the new record for crypto-based <a href="https://coinedition.com/crypto-exchanges-turn-to-lending-to-buttress-dwindling-revenues/">lending</a> remains below the peak of nearly $1.5 billion witnessed last June. Besides, it represents only a fracti…
The post <a href="https://coinedition.com/crypto-loans-rebound-to-581m-in-2023-reflecting-55-growth/">Crypto Loans Rebound to $581M in 2023, Reflecting 55%+ Growth</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Crypto Loans Rebound to $581M in 2023, Reflecting 55%+ Growth

Coin Edition

Other articles published on Dec 18, 2023

Solana’s WIF Memecoin: A $1.69M Success Story in 5 Days!

Solana Saga phones trigger cryptocurrency frenzy with soaring resale prices

Binance Crackdown Unleashes Unprecedented Scrutiny on Crypto Transactions

9 Christmas gift ideas for crypto enthusiasts

The Impact and Strategies of Bitcoin Adoption in El Salvador

FTX Files To Exit Bankruptcy And Repay Billions To Affected Customers

Join our free newsletter for daily crypto updates!