Major Bitcoin lending companies BlockFi, Celsius Network, and Nexo beat new records.
A day earlier, Celsius Network posted on Twitter that its AUM (asset under management) hit $10 B.
As for Nexo, in January 2021, Nexo reported having over $4 B in AUM.In total, Celsius Network, BlockFi, and Nexo hold around $30 billion in assets under management.
The growing AUM numbers are connected not only with the demand in crypto but also with surging prices.
The three above-mentioned firms play a great role in cryptocurrency lending and borrowing. They offer high yields paid in crypto assets. Cryptocurrency holders can use their assets as collateral to get loans.
The three firms offer lending rates of around 4-6% for major cryptocurrencies and up to 10.5% on stablecoins.