CeFi lending has surged by 73% from its previous lows, totaling 11.2 billion USD by Q4 2024. However, this is still a 68% drop from its peak in 2022 due to major platform collapses like Celsius and BlockFi.
Conversely, DeFi lending has dramatically increased, now at 19.1 billion USD in outstanding loans, a 959% rise since 2022. DeFi protocols captured a substantial 63% of the market share by Q4 2024, marking a clear trend shift.
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