BTC PULSE
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
Play Now
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home NFT

Blur’s Blend Protocol Dominates NFT Lending Market with 170,000 ETH in Loans

by Dan K
May 26, 2023 - 3:30 pm
in NFT
Rostin Behnam at the podium during the Expo, with a background displaying the CFTC logo.

Blend: The Game-changer in the NFT Lending Market

Blur’s peer-to-peer perpetual non-fungible lending protocol Blend has revolutionized the NFT lending landscape. The protocol, within its short existence, has experienced tremendous growth, with the loan volume approaching an impressive 170,000 ETH in under a month.

Cornering the Market: Blend’s Staggering 82% Market Share

According to the data analytics platform, DappRadar, Blend’s total loan volume has mushroomed to 169,900 ETH or $308 million in 22 days. This rise from the initial 4,200 ETH marks a near 4000% growth.

The NFT loan volume for May escalated to $375 million. Impressively, Blend has a lion’s share of 82% in the NFT lending market by borrow volume, surpassing competing NFT lending protocols like X2Y2, NFTfi, Paraspace, Bend, and Arcade.

Blend: A Game-Changing Lending Model

Blur Lending, colloquially known as Blend, was launched on May 1 by the NFT marketplace, Blur. The protocol enables borrowers to leverage their NFTs as collateral to procure ether, with zero fee charges for borrowers and lenders.

Blend’s stellar performance has catalyzed an upsurge in Blur’s total value locked (TVL), peaking at a staggering $147.5 million on May 23. Notably, NFTs within the Blend protocol contribute to a significant 17% of its TVL.

Extension of Support: Blend Adds Clone X to Its Portfolio

Initially, Blend extended support to NFT collections like Azuki, CryptoPunks, and Milady Maker. Gradually, the portfolio has expanded to include DeGods, Bored Ape Yacht Club (BAYC), and Mutant Ape Yacht Club (MAYC).

While each NFT collection has generated considerable interest, Azuki emerged as the frontrunner on the Blend protocol, recording a significant 70,031 ETH of loan volume from nearly 6,500 loans.

Building on its existing portfolio, Blur recently announced that Blend will soon extend support to Clone X, a series of 20,000 3D avatars launched in 2021.

With Blend continuing to ascend in the NFT lending market, Blur is cementing its position as a formidable player in the evolving NFT space.

Tags: BlurCryptoLendingETHNFT
Dan K

Dan K

Dan K, the chief editor, is a visionary wordsmith, shaping narratives with finesse. His discerning eye for detail creates literary masterpieces.

Related Posts

Bar chart showing June 2025 NFT sales volume by blockchain including Ethereum, Immutable, Bitcoin, and Polygon

NFT Market Rebounds Slightly as Bitcoin Surges Past $105K

June 8, 2025

NFT sales rise 1.95% to $106.2M as Bitcoin surges to $105K. Buyer participation jumps 55% amid steady growth...

Bar chart showing June 2025 NFT sales volume by blockchain including Ethereum, Immutable, Bitcoin, and Polygon

NFT Lending Volume Collapses 97% From Peak as Market Activity Dries Up

May 28, 2025

NFT lending has collapsed 97% from its peak, with borrower activity down 90% and lenders 78%, reflecting a...

Hester Peirce of the SEC discusses NFT royalties and securities law

SEC’s Hester Peirce Clarifies NFT Royalties Don’t Make Tokens Securities

May 21, 2025

NFT royalties don’t make tokens securities, says SEC’s Hester Peirce, stressing that artist earnings are not tied to...

OpenSea logo with a digital asset background symbolizing NFT trading and U.S. regulations

OpenSea Urges SEC to Exclude NFT Marketplaces from Securities Regulation

April 10, 2025

OpenSea urges the SEC to clarify that NFT marketplaces aren’t brokers or exchanges under federal law, seeking relief...

Press Releases

image2

Could XYZVerse Overtake DOGE and SHIB? Analysts Say $0.003333 Could Explode to $10!

March 30, 2025

XYZVerse aims to outpace DOGE and SHIB, with bold $10 price goals, strong community rewards, and rising demand as it...

image1 1

Massive Institutional BTC Buys Could Launch the Next Bull Market: 5 Altcoins to Watch

March 29, 2025

Institutional Bitcoin buys may trigger a market surge. Five altcoins, including $XYZ, stand to gain—early investors could see major ROI...

image1

XRP Faces Strong Resistance While XYZVerse Gains Early Investor Attention With 10 Billion $XYZ Airdrop

March 28, 2025

XRP struggles at resistance, while XYZVerse grabs early investor attention with a 10B token airdrop and rapid growth toward a...

BTC

Popular Memecoin MEW Pledges $10,000 to Pasadena Humane Organization to Aid Animals Affected by California Wildfires

January 20, 2025

MEW memecoin donates $10K to Pasadena Humane for wildfire-affected animals. Join the mission to aid pets and wildlife in crisis...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise