Crypto lending surged by 20.46 billion USD in Q3 2025, with DeFi lending contributing an additional 14.52 billion USD. Total DAT debt now exceeds 12 billion USD, indicating robust market activity.
On October 6, futures open interest peaked at 220.37 billion USD, but the market crash on October 10 resulted in liquidations exceeding 17 billion USD, with Hyperliquid, Bybit, and Binance facing the largest impacts.
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