NFT mortgage lending market transaction volume exceeded US$2 billion in Q1, a record high, up 44% month-on-month

According to BlockBeats, on April 25, according to the CoinGecko report, the transaction volume of the NFT mortgage lending market in Q1 exceeded US$2 billion, a month-on-month increase of 44%, setting a new record. Among them, the total amount of NFT loans in January reached a record high of US$900 million, exceeding the monthly record of US$850 million set in June 2023. The lending platform Blend has shown significant dominance in the market. As of March 2024, the monthly loan amount was US$562.3 million, accounting for nearly 93% of the market share. Blend has been leading the market, with its share fluctuating between 88.8% and 96.5%. In the first quarter of 2024, Blend's NFT lending volume increased by 49.2% month-on-month, with a total of more than US$2.02 billion. Arcade holds a 2.8% market share with $16.9 million in loans, followed by NFTfi with a 2.2% share and $13.3 million in loans in March 2024. Both platforms have maintained a monthly market share above 1% since last year. Other NFT lending platforms, such as X2Y2 (X2Y2) and BendDAO (BEND), each hold a 0.8% market share, while Parallel Finance (formerly ParaX) holds a 0.5% market share.