Digital asset’s lending has been one of the most commercially<a href="https://t.co/KMIjyuqp3C"> successful</a> sub-sector in the cryptocurrency space. Since December 2017 when the market experienced a downturn, the crypto-lending sector has experienced significant growth among lenders who take crypto-assets as collateral and give out fiat.

Initially, the crypto-lending sector started as a centralized lending service with firms such as the Celsius Network and Block-Fi. They gained attention due to their prior success. At the moment, the Celsius Network has over $4 billion in loans.

Moreover, the fanfare and attention girding around Decentralized Finance (DeFi); and the success of many other major lending firms under DeFi’s wing on the Ethereum blockchain; ha of late shed some light on one of the digital currency sector’s well-kept secrets. DeFi’s success is owed to several different reasons; however, a record<a href="https://www.cryptoknowmics.com/crypto/blockfi-lowers-interest-rates-to-attract-larger-cryptocurrency-deposits/"> low-interest rate</a> for the savers in oldskool banks has been a big factor.
<h2>Messari Highlights DeFi’s Growth</h2>
Furthermore, as DeFi continues to<a href="https://messari.io/article/messari-classifications"> grow</a>, there are other multiple DeFi platforms that have over $10 million in Ether under-investment. Platforms such as Maker, Nexo, Ripio Credit Network, Aave, and Cred have an average of close to 15 per cent within the last three months. Additionally, they have been maintaining an average of 75 per cent over the last twelve months.

Following the astounding success surrounding Celsius Network and Block-Fi; on top of the growth of DeFi platforms such as Maker DAO, Compound, and Dharma; both lenders and borrowers now have an abundance of choices. Additionally, DeFi allows one to put up their own ether as collateral and lend fiat to themselves through smart contracts on venues such as Maker.

In conclusion, other than the Ethereum blockchain, other alternatives such as the BTCPay server and the Lightning Network; also act as an option for traditional finance models. Platforms such as DAO and Bisq operate on the Bitcoin Network. Other rival networks such as EOS and Tron are also working on DeFi and Dapps.

Crypto Lending is the Most Profitable Business in the Crypto Industry

Digital asset’s lending has been one of the most commercially successful sub-sector in the cryptocurrency space. Since December 2017 when the market.. %

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Crypto Lending is the Most Profitable Business in the Crypto Industry

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