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

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