NFTfi hits all-time highs for volume, number of loans and borrowers
CoinEdition
Published Feb 04, 2023 02:33AM ET
Updated Feb 04, 2023 03:00AM ET
NFTfi hits all-time highs for volume, number of loans and borrowers
- NFTfi recorded all-time highs in January for volume, number of loans, and borrowers and lenders.
- Along with BenDAO, NFTfi holds almost 70% of the market share.
- According to a crypto reporter, these all-time highs come from the recovery of the NFT market and blue-chip projects.
Despite the ongoing bear market, NFT lending platform NFTfi has hit all-time highs in January for volume (ETH), number of loans, and numbers of borrowers and lenders.
General Partner of crypto investment firm 1confirmation, Richard Chen posted via Twitter data panels showing record numbers for the NFT lending protocol. Monthly loan volume was 17,936 ETH, while total loans added up to 4,399 with 907 borrowers and lenders.
In addition, crypto reporter Colin Wu shared his opinion on the reasons behind these record numbers for NFTfi. He believes these all-time highs are due to the general recovery of the crypto and NFT market, which consequently made blue-chip NFT prices rally and stimulate demand for NFT loans.
NFTfi alone accounts for 30%-40% of the market share. When coupled with BenDAO, they have roughly 70% of the total market.
In January 2023, NFT sales matched the perf…
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