Cryptocurrency

Revive

BlackRock

The crypto lending industry is experiencing a resurgence with the emergence of spot Bitcoin (BTC) exchange-traded funds (ETFs) and the return of assets of bankrupt companies to creditors. 
<h2 id="bitcoin-etfs-and-bankruptcy-refunds-revive-the-crypto-lending-industry">Bitcoin ETFs and Bankruptcy Refunds Revive the Crypto Lending Industry</h2> 
Mauricio Di Bartolomeo, co-founder of crypto lending firm Ledn, attributes the revival to these factors and emphasizes that the recent rise of the market is important. 
“Investors never really abandoned the market; they just got scared,” Di Bartolomeo said at the Consensus 2024 conference in Austin, Texas. 
He emphasized that Ledn's strategy of being “boring, slow and safe” helped the firm weather the crypto winter that saw the collapse of many major players, including Celsius, BlockFi and Genesis. 
Crypto loans work similar to traditional banking, where customers deposit Bitcoin or other cryptocurrencies with firms like Ledn. 
These deposits earn interest or can be used as collateral for loans. The industry suffered a severe setback in 2022 as crypto prices crashed, leading to several high-profile bankruptcies. 
Related News: <a href="https://en.bitcoinsistemi.com/in-this-altcoin-developers-unlocked-a-massive-amount-of-altcoins-this-morning/" target="_blank" rel="dofollow">In This Altcoin, Developers Unlocked a Massive Amount of Altcoins This Morning</a> 
However, the digital assets sector has since recovered. The CoinDesk 20 Index is up more than 200% since the end of 2022. 
The rally was further strengthened by financial giants such as BlackRock approving Bitcoin ETFs, bringing renewed interest and legitimacy to the market. 
Underlining the positive impact of Bitcoin ETFs on the lending market, Di Bartolomeo said, “Bitcoin rose from $ 20,000 to $ 70,000 and became the focal point of the political race in the USA.” 
Ledn's own performance also reflects this recovery. The company completed more than $690 million in loan transactions in the first quarter of 2024, marking its most successful quarter since its establishment in 2018. 
Notably, more than 84% of these loans were directed to institutional customers, and demand increased after ETF approvals in January. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/market-assessment-from-cryptocurrency-lending-agency-ledn-these-two-elements-kept-the-sector-afloat/">Market Assessment from Cryptocurrency Lending Agency Ledn: 'These Two Elements Kept the Sector Afloat!'</a>

Market Assessment from Cryptocurrency Lending Agency Ledn: 'These Two Elements Kept the Sector Afloat!'

Table of Contents

Bitcoin Sistemi EN

Other articles published on Jun 10, 2024

Nvidia Reaches $3 Trillion Market Cap, Provokes AI Tokens Sell-Off

Aptos crypto gains momentum, hits $8.41 – What’s fueling the surge?

Floki Name Service Goes Live, Will It Trigger FLOKI Price Rebound?

Solana and Bitcoin Lead the Charge But Furrever Token’s Launch Will Be the Next Big Thing

DePIN Protocol Io.net CEO, Ahmad Shadid, Departs 2 Days Before Token Launch

All Eyes on the FED in Bitcoin! How Will FED's Interest Rate Decision Affect BTC? Analyst Announc...

Join our free newsletter for daily crypto updates!