Data: NFT borrowed more than 18000 ETHs in January, the highest level since May 2022
It is reported that according to the latest data report of eBit labs, a digital asset analysis company, the scale of NFT lending rose sharply in January this year and reached the highest level since May 2022. The amount of NFT lending in the first week of January exceeded 6000 ETH, reaching the highest level in more than nine months. As of the time of release, the total amount of lending in the whole January exceeded 18000 ETH, about US $30516660.
Interpretation of this information:
The latest data report from eBit labs, a digital asset analysis company, reveals that the scale of NFT lending has surged in January 2022, hitting its highest level since May 2021. The amount of NFT lending surpassed 6000 ETH in the first week of January, which is the highest level in more than nine months. The total amount of lending in January has surpassed 18000 ETH, equivalent to around US $30.5 million.
NFT lending is a form of crypto-backed loan that allows NFT holders to access liquidity by using their NFTs as collateral. With the rise in NFT popularity in recent years, NFT lending has emerged as a new trend in the decentralized finance (DeFi) ecosystem. This trend has been further fueled by the soaring prices of NFTs, which has made them a valuable form of collateral.
The sharp rise in the scale of NFT lending in January suggests that more investors are turning to NFTs as a source of collateral for loans. This trend can be attributed to the increasing demand for liquidity in the DeFi space, as well as the growing popularity of NFTs as an investment asset. Moreover, the growth in NFT lending highlights the potential of NFTs as a valuable form of collateral, which could fuel further innovation in the DeFi ecosystem.
Overall, the latest data report from eBit labs indicates that NFT lending is a growing trend that is here to stay. As the demand for liquidity in the DeFi space continues to grow, NFTs are likely to become an even more valuable source of collateral for loans. With the potential for further innovation in the DeFi space, NFT lending could play a significant role in shaping the future of decentralized finance.
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