Mars Finance News: According to Galaxy Digital Research Director Alex Thorn's post on X, after reviewing public files, bankruptcy documents, and voluntary disclosures from active lenders, the total scale of centralized finance (CeFi) loans is $11.2 billion by the end of 2024, a 68% decrease from the historical peak (ATH) of $34.8 billion in 2022. By the end of 2024, the largest CeFi lenders by outstanding loan book size are: Tether, Galaxy, Ledn, Coinbase, Maple, Unchained, Centrifuge, Goldfinch, Arch, and TrueFi. While DeFi is quite transparent, CeFi lending is more opaque. However, combining the two, the outstanding loan market size is approximately $30 billion. Currently, the DeFi outstanding loan market size has exceeded CeFi. If adding collateralized debt position (CDP) stablecoins (such as Dai), the scale will exceed $35 billion. In fact, DeFi currently accounts for over 60% of the cryptocurrency lending market.