CeFi Lending Plummets as DeFi Takes the Lead

The cryptocurrency lending landscape is undergoing a significant shift as decentralized finance (DeFi) surpasses traditional centralized financial institutions (CeFi). A key report from Alex Thorn reveals that CeFi lending has declined drastically since 2022, shrinking to just $11.2 billion by 2024, down from its peak of $34.8 billion. This decline is further corroborated by the fact that DeFi now accounts for a staggering 60% of the market, indicating a complete change in market dominance.