CeFi Lending Plummets, DeFi Dominates Crypto Market

The crypto lending landscape has experienced a dramatic shift with CeFi (Centralized Finance) loans plummeting by 68% since reaching their peak in 2022. Decentralized finance (DeFi) has taken the lead, now holding over 60% of the market share in lending, as users seek transparency and stability. This shift follows a series of collapses within the CeFi sector, which saw major players like Genesis and Celsius fail between 2022 and 2023. 2024 saw DeFi emerge stronger than ever.