In the latest financial report from cryptocurrency lending platform Ledn, it was revealed that the company has achieved significant milestones in loan transactions during the third quarter of 2024. The platform processed an impressive $506 million in total loan transactions, with a notable $437.7 million directed towards institutional clients.
Additionally, the retail customer segment experienced a remarkable year-over-year increase of 225%, culminating in loans amounting to $68.9 million. This surge in retail lending can be attributed to several key factors including the recently implemented Celsius refinancing plan, the introduction of cryptocurrency exchange-traded funds (ETFs), and a notable period of reduced market volatility.
Thus far in 2024, Ledn has managed an astounding $1.67 billion in loans, breaking down to $258.7 million for retail loans and an impressive $1.41 billion dedicated to institutional loans. Since its establishment in 2018, Ledn has successfully issued over $6.5 billion in loans, catering to the demands of both retail and institutional markets.
This growth trajectory not only signifies Ledn's increasing influence in the cryptocurrency lending space but also highlights the ongoing evolution and maturation of digital asset financing..