There is over $20 billion in active crypto loans through on chain lending bringing an #OnChainLendingSurge .

This number which is higher than its December 2021 record shows the increased interest of people in loans on Web 3.

Web 3 loans are preferred for their speed and easy access when compared to traditional financial institutions.

While many people could use the loans to hold digital assets or trade them, others convert them to fiat and use the funds to pay for assets in the physical world.

The availability of these loans could help push crypto upwards as buyers have the liquidity to buy coins.

Unless there is enough data to show what exactly people spend their on chain loans on it is difficult to fully conclude how they may impact asset prices.