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unfolded.
unfolded.|Apr 14, 2025 22:48
As the CeFi lending market has contracted over the last three years, the amount of outstanding loans has consolidated across fewer lenders. At the CeFi lending market peak in Q1 2022, the top three lenders (Genesis, BlockFi, and Celsius) comprised 76% of the market. Today, top three lenders (Tether, Galaxy, and Ledn) maintain a combined 89% market share
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