• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

ZachXBT reveals Coinbase users lost another $45M in a week to ongoing social engineering scams

2025-05-07

Bitcoin Won’t Be Fine, Bitcoin Will Be Fine

2025-05-07

Bitcoin PUMPS Ahead of FOMC Press Conference

2025-05-06

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    What is a Layer-1 (L1) Blockchain? L1 Problems & Future

    2025-05-03

    What is a Layer-2 (L2) Blockchain Solution? Types & Problems They Solve

    2025-05-02

    What Is a Layer-0 Blockchain Protocol?

    2025-05-02

    What They Are and What They Are For

    2025-04-17

    What It is & Why it Matters

    2025-04-16
  • Videos

    Bitcoin Won’t Be Fine, Bitcoin Will Be Fine

    2025-05-07

    Bitcoin PUMPS Ahead of FOMC Press Conference

    2025-05-06

    Bitcoin Core Removes The Mask

    2025-05-06

    Next CME Gap For Bitcoin to Fill (GET READY!!)

    2025-05-05

    How To Run A BITCOIN NODE: Knots on Desktop, Umbrel and Start9

    2025-05-05
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»NFT»NFT lending volume surpass $2 billion in Q1 as holders search for liquidity
NFT

NFT lending volume surpass $2 billion in Q1 as holders search for liquidity

2024-04-24No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

The lending market based on non-fungible tokens (NFT) as collateral surpassed $2 billion in volume during the first quarter, sustaining growth of 44% compared to Q4 2023, according to a CoinGecko report.

“Crypto markets are all about market rotation […] There’s clearly a trend where OG NFT holders are leveraging these [lending] platforms to get liquidity and take advantage of the positive sentiment of the market with meme coins and other stuff,” explains NFT Price Floor analyst who is identified as Nico.

He mentions as an example the move made by SquiggleDAO, which used some of its Chrome Squiggles holdings as collateral to get a $1 million loan through Zharta Finance, using the money to invest in other assets. However, once investors are done with profits with the current narratives, Nico foresees the money flowing into Bitcoin, Ethereum, and blue chip NFTs, including new collections created on Bitcoin infrastructures.

Blend shows strong domination

Lending platform Blend showed significant dominance in the market, achieving nearly 93% of the market share with $562.3 million in monthly lending volume as of March 2024.

Since its inception in May 2023 by the leading NFT marketplace Blur, Blend has rapidly ascended to market dominance, initially seizing an 82.7% share. Consistently leading the market, Blend’s share has fluctuated between 88.8% and 96.5%. The first quarter of 2024 marked a 49.2% quarter-on-quarter (QoQ) increase in Blend’s NFT lending volume, totaling over $2.02 billion.

While Blend leads the pack, Arcade and NFTfi trail as notable smaller players in the NFT lending space. Arcade holds a 2.8% market share with a $16.9 million lending volume, and NFTfi follows closely with a 2.2% share from a $13.3 million volume in March 2024. Both platforms have maintained over 1% in monthly market share since the previous year.

See also  Uniswap’s new trading fee neglects UNI holders
Image: CoinGecko

Arcade’s NFT lending volume hit a new quarterly record of $39.4 million in Q1 2024, up 37.1% QoQ. NFTfi also saw a significant rise of 48.3% QoQ, reaching a lending volume of $35.8 million. With Arcade’s recent token launch and NFTfi’s anticipated token release, the industry is watching closely to gauge the potential impact on their respective lending volumes.

Other NFT lending platforms, such as X2Y2 (X2Y2) and BendDAO (BEND), each hold a 0.8% market share, while Parallel Finance (formerly ParaX) accounts for 0.5% of the market.

January 2024 alone saw a record-breaking $900 million in total monthly NFT lending volume, surpassing the previous peak of $850 million in June 2023.

As Ethereum NFT collections continue to be the primary collateral for loans due to the synergy between Blend and Blur, the burgeoning popularity of Bitcoin Ordinals introduces a new variable to the NFT lending market’s future trajectory.

Billion holders Lending liquidity NFT search Surpass Volume
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Crypto Lending Is BACK — And It Could Make You Filthy Rich in 2025!

2025-04-29

FBI reports $9.3 billion in US targeted crypto scams as elderly hit hardest

2025-04-24

Bitcoin: The Search For Hopium!!!

2025-03-18

DCA Live: Hedge Funds Return + RARE Liquidity Signal

2025-03-17
Add A Comment

Leave A Reply Cancel Reply

Top Posts

BlockFi in no immediate danger, despite Silicon Valley Bank exposure: Report

2023-03-14

According to a lawyer representing the bankrupt crypto lender BlockFi Inc., the company is in…

Videos

EXPOSED! Saylor Lied About Ethereum ETFs? TRUTH REVEALED!

2024-05-03

Sign Up Here for the CT Club! https://learningcrypto.com ✴︎Trezor hardware wallet …

Blockchain

Recycle to earn, a new frontier for blockchain technology towards ESG goals

2023-02-24

Blockchain ‘Recycle to Earn’ was the motto presented by Eric Vogel earlier this month while…

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

ZachXBT reveals Coinbase users lost another $45M in a week to ongoing social engineering scams

2025-05-07

Bitcoin Won’t Be Fine, Bitcoin Will Be Fine

2025-05-07

Bitcoin PUMPS Ahead of FOMC Press Conference

2025-05-06

Bitcoin Core Removes The Mask

2025-05-06
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 101,331.15
ethereum
Ethereum (ETH) $ 2,054.39
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.24
bnb
BNB (BNB) $ 617.89
solana
Solana (SOL) $ 160.04
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.190693
cardano
Cardano (ADA) $ 0.732096
tron
TRON (TRX) $ 0.25498
bitcoin
Bitcoin (BTC) $ 101,331.15
ethereum
Ethereum (ETH) $ 2,054.39
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.24
bnb
BNB (BNB) $ 617.89
solana
Solana (SOL) $ 160.04
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.190693
cardano
Cardano (ADA) $ 0.732096
tron
TRON (TRX) $ 0.25498