DeFi Lending Reaches $41 Billion in Q3, Capturing 55.7% Market Share

Decentralized finance lending totaled $40.99 billion at the end of the third quarter, a 54.84% quarterly increase, according to Galaxy Digital's research team. Combined with centralized platforms, total crypto-collateralized loans climbed to $65.37 billion, surpassing the previous record of $53.44 billion from Q4 2021. DeFi's market dominance over centralized venues rose to 62.71% by quarter-end.