Crypto borrowing hit a dizzying $73.6 billion last quarter, a new high. But, unlike the wild west days of 2021-22, this leverage isn’t built on sand. The debt composition looks surprisingly robust. On-chain lending is devouring the crypto-collateralized debt market like a black hole. Galaxy Research reveals a seismic shift: nearly 67% of all crypto loans are now happening directly …
Read More »Crypto Leverage Hits Record High in Q3 as DeFi Dominance Reshapes Market Structure: Galaxy
