NFT mortgage lending market transaction volume exceeded US$2 billion in Q1, a record high, up 44% from the previous quarter
On April 25th, according to CoinGecko's report, the NFT collateralized lending market had a Q1 trading volume of over $2 billion, a 44% increase from the previous period, reaching a new high. In January, the total amount of NFT loans reached a record high of $900 million, surpassing the previous monthly high of $850 million set in June 2023.
The lending platform Blend has shown significant dominance in the market, with a monthly loan amount of $562.3 million as of March 2024, occupying nearly 93% of the market share. Blend has always been leading the market, with its share fluctuating between 88.8% and 96.5%. In the first quarter of 2024, Blend's NFT lending volume increased by 49.2% compared to the previous period, with a total amount exceeding $2.02 billion.
Arcade occupies 2.8% of the market share with a loan amount of $16.9 million, followed closely by NFTfi with a share of 2.2% and a loan amount of $13.3 million in March 2024.
Since last year, the monthly market share of these two platforms has remained above 1%. Other NFT lending platforms, such as X2Y2 and Bend DAO, each occupy 0.8% of the market share, while Parallel Finance (formerly ParaX) occupies 0.5% of the market share.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Senate Banking Committee cancels confirmation vote for SEC’s Caroline Crenshaw
In the meantime, Trump will name either Commissioner Hester Peirce or Mark Uyeda as acting chair
Trump family crypto project WLFI reaches cooperation with Ethena Labs
Affected by the cooperation news, ENA rose by about 8% in a short period of time