A surprising resurgence is witnessed in the realm of blockchain-based private loans amid the ongoing turbulent scenario in the cryptocurrency market. Meanwhile, the companies, seeking refuge from the soaring interest rates, are turning their focus to digital ledgers, fostering a 55% surge in active private loans since the year’s commencement, totaling around $408 million by November 28, according to RWA.xyz.
Notably, this revival, albeit shy of last year’s peak, unfolds against a traditional private credit market valued at $1.6 trillion. Here’s a closer look at how blockchain lending is staging a comeback and the market sentiment steering this shift.
Blockchain Lending Gains Momentum
Despite a challenging year for digital assets, blockchain-based private credit is experiencing a revival, with active loans surpassing $408 million in 2023. Noteworthy is the transparency and efficiency offered by blockchain protocols, such as Centrifuge, Maple Finance, and Goldfinch.
Meanwhile, thes
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