According to ChainCatcher, crypto lending platform Ledn released a report stating that the Bitcoin collateralized lending market could grow from its current size of approximately $3 billion to $1 trillion over the next 10 years.
The report cites data from a survey of 1,244 cryptocurrency holders in the US and Australia, showing that 88% of respondents said they would be willing to use cryptocurrency-backed loans or credit products, but only 14% are currently actually using them. Ledn states that this means there is a "6:1 willingness-to-adoption gap" in the market, and the biggest obstacle in the industry is not insufficient demand, but rather a trust issue.
The report indicates that users' biggest concerns include cryptocurrency price volatility, liquidation risks, and regulatory uncertainty. Furthermore, platform reputation, asset custody security, loan term transparency, and risk management capabilities are considered more important than the interest rate itself.
