New Galaxy report shows crypto leverage shifting in Q1: DeFi lending down 21%, bitcoin corporate debt hits $12.7B, and futures rebound. CME & Hyperliquid gain ground. 🔄📊

- Stablecoin borrow rates fell 57% as DeFi lending dropped.

- Strategy now holds $8.2B in debt for BTC purchases.

- CME’s futures share rose to 24.6%, Hyperliquid up 175%.