DeFi lending reached a new record in the third quarter, according to a new report from Galaxy Digital’s research team, which found that the dollar-denominated value of outstanding loans on decentralized finance (DeFi) applications rose by $14.52 billion, or 54.84%, to $40.99 billion at the end of Q3.

When combined with centralized finance (CeFi) lenders, total outstanding crypto-collateralized loans rose to $65.37 billion in Q3, up $21.12 billion from the previous quarter. This is a new all-time high after surpassing the earlier peak of $53.44 billion from Q4 2021 by $11.93 billion.

DeFi lending reached a new record in the third quarter, according to a new report from Galaxy Digital’s research team, which found that the dollar-denominated value of outstanding loans on decentralized finance (DeFi) applications rose by $14.52 billion, or 54.84%, to $40.99 billion at the end of Q3.

When combined with centralized finance (CeFi) lenders, total outstanding crypto-collateralized loans rose to $65.37 billion in Q3, up $21.12 billion from the previous quarter. This is a new all-time high after surpassing the earlier peak of $53.44 billion from Q4 2021 by $11.93 billion.