PANews reported on May 6 that according to Crowdfundinsider, the CoinGecko report showed that the total amount of NFT lending reached a quarterly high of US$2.13 billion in the first quarter of this year, a month-on-month increase of 43.6%. Among them, the Blend platform dominated the market with a 92.9% market share, with a monthly lending volume of US$562.33 million in March 2024; and in the first quarter of 2024, its lending volume increased by 49.2% month-on-month to a new high of US$2.02 billion.
Meanwhile, Arcade and NFTfi are other popular NFT lending platforms with market shares of 2.8% and 2.2%, respectively. Arcade “recorded a new quarterly high of $39.46 million in NFT lending volume in the first quarter of this year, up 37.1% from the previous quarter. During the same period, NFTfi’s lending volume increased 48.3% from the previous quarter to $35.88 million.” The remaining NFT lending platforms “are X2Y2 (X2Y2) and BendDAO (BEND), both with 0.8% market share, and Parallel Finance (formerly ParaX), with 0.5% market share.”
