#OnChainLendingSurge

On-chain lending market surpasses $20 billion: A historic leap in decentralized finance

According to a recent report, the total active loans in the on-chain lending market have surpassed $20 billion, setting a new record high that surpasses the previous record set in December 2021.

What is on-chain lending?

On-chain lending is a part of decentralized finance (DeFi), where loans are made and received using smart contracts on blockchain networks, without the need for traditional intermediaries such as banks.