Cryptocurrency Collateral Loans Decrease to $56.16 Billion

The scale of cryptocurrency collateral loans has decreased to $56.16 billion in the second quarter of 2026. Both DeFi and CeFi loans, as well as collateralized debt position (CDP) stablecoin collateral, have declined simultaneously, leading to a reduction in market leverage. According to a report by Galaxy Research, collateral loans fell by $11.33 billion, or 16.78%, compared to the previous quarter, and are 40.13% lower than the peak in the third quarter of 2025. The outstanding loans in DeFi applications decreased by 27.61% to $20.43 billion, while CeFi outstanding loans dropped by 9.62% to $22.98 billion. The combined collateral borrowing balance for both sectors stood at $43.41 billion. The share of DeFi loans has decreased to 47.05%, with CeFi loan balances surpassing DeFi for the first time. In the derivatives market, open interest also fell by 3.08% to $103.2 billion at the end of the second quarter, with Bitcoin open interest at $45.04 billion and Ethereum at $21.99 billion. By the end of July, total open interest had risen again to approximately $114 billion. On the corporate finance side, Strategy has repurchased the principal of convertible bonds, reducing the balance to $6.7 billion.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.