NFTfi is reaching all-time highs for volume, number of loans and borrowers
- In January, NFTfi recorded all-time highs for volume, number of loans, and borrowers and lenders.
- Along with BenDAO, NFTfi holds nearly 70% market share.
- According to the 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 hit all-time highs in January for volume (ETH), number of loans, and number of borrowers and lenders.
The general partner of crypto investment firm 1confirmation, Richard Chen, tweeted out dashboards showing record numbers for the NFT lending protocol. The monthly loan volume was 17,936 ETH, while the total number of loans was 4,399 with 907 borrowers and lenders.
Additionally, crypto reporter Colin Wu shared his thoughts on the reasons behind these record numbers for NFTfi. He believes that these all-time highs are the result of a general recovery in the crypto and NFT markets, which has consequently driven up blue-chip NFT prices and stimulated demand for NFT loans.
NFTfi alone accounts for 30%-40% of the market share. Combined with BenDAO, they have approximately 70% of the total market.
In January 2023, NFT sales coincided with the performance…
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