According to Odaily, cryptocurrency lending platform Ledn announced that it processed $506 million in loan transactions during the third quarter of 2024. Of this amount, $437.7 million was loaned to institutional clients, while loans to retail customers saw a year-over-year increase of 225%, reaching $68.9 million. The surge in retail loans is attributed to the Celsius refinancing plan, the introduction of cryptocurrency ETFs, and a period of reduced market volatility.
So far this year, Ledn has handled $1.67 billion in loans, with $258.7 million allocated to retail loans and $1.41 billion to institutional loans. Since its inception in 2018, Ledn has issued over $6.5 billion in loans to both retail and institutional markets.
