Crypto Lending Demand Surges as Market Rebounds in 2022
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Cryptocurrency market has rebounded in 2022 with total market value doubling to $1.3 trillion.
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Investment advisor Two Prime has seen huge demand for crypto-backed loans since launching the offering in September.
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Two Prime has received about $2 billion in demand for bitcoin-secured loans.
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Most of the loans are overcollateralized, with bitcoin as the predominant collateral asset.
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Two Prime aims to fill the gap for institutional crypto lending after the collapse of major players like Celsius and BlockFi.