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Study: the cryptocurrency sector grew to $ 4.7 billion, while the interest rate remains below 2%

Research company Graychain found that in the cryptocurrency lending sector, loans totaling $ 4.7 billion were issued for 18 months. At the same time, the average interest rate remains quite low – at 1.83%. Thus, the annual income of lenders amounted to about $ 86 million. TheCryptoCreditReport-q2-2019 by ForkLog on Scribd During the study period, about 244 […]

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Research company Graychain found that in the cryptocurrency lending sector, loans totaling $ 4.7 billion were issued for 18 months. At the same time, the average interest rate remains quite low – at 1.83%. Thus, the annual income of lenders amounted to about $ 86 million.

TheCryptoCreditReport-q2-2019 by BlockchainJournal on Scribd

During the study period, about 244 thousand loans were issued, most of which accounted for Genesis and Celsius (65%). At the same time, Graychain emphasized that almost 100% of loans currently require a pledge of the asset, but this, according to experts, will soon change, and loans will be issued under the prospect of profitability.

At the same time, the number of loans is growing faster than their total cost and number of addresses: this speaks in favor of the fact that retail investors began to use loans.

Graychain studied data from BlockFi, Celsius, Compound, Cred, Dharma, dYdX, EthLend, Genesis, Maker, Nexo, nüo, SALT and Unchained Capital.

Note that venture capitalists also praised the potential of the cryptocurrency lending sector. So, BlockFi startup has already attracted about $ 78.3 million from Fidelity Investments, Galaxy Digital, Akuna Capital and other influential market players.

At the same time, the Galaxy Digital cryptocurrency bank decided to invest in another similar service DrawBridge Lending, which promises customers loans without margin calls on collateral.

It is noteworthy that the sector experienced a boom in China. So, in just five months (fall / winter 2018 – early 2019), Chinese cryptocurrency funds issued loans of $ 60 million against collateral in Bitcoin, Ethereum, EOS, Litecoin and Tether USD (USDT), but at a rate of 7%.

China's cryptocurrency investment funds issued loans of $ 60 million in just five months

The leading lender to Genesis Global Capital as part of the business empire, Barry Silbert, over the course of its existence, processed loans worth $ 2.3 billion, thereby providing almost 50% of all loans.

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ARK Invest Deshace Acciones de Coinbase y GBTC por Millones en Medio del Auge del Mercado

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ARK Invest: $33 Millones en Acciones de Coinbase y $5.9 Millones en GBTC

ARK Invest, liderada por Cathie Wood, continúa navegando sus movimientos estratégicos de acciones en el mercado, realizando ventas destacadas de acciones de Coinbase y Grayscale Bitcoin Trust (GBTC) en medio del continuo aumento de los precios del mercado.

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El Descuento de GBTC se Reduce a Medida que Aumenta el Precio de Bitcoin

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IBM Presenta OSO, Diseñada Para el Almacenamiento en Frío de Activos Digitales

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IBM presentó una nueva tecnología denominada «IBM Hyper Protect Offline Signing Orchestrator» (OSO), diseñada para gestionar activos digitales en almacenamiento en frío. Esta innovación surge como respuesta a los riesgos asociados con los procedimientos manuales y tiene como objetivo mantener los activos a una distancia segura de las conexiones a Internet. (más…)

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