Cryptocurrency creditors have been able to find profits from selling to two types of borrowers: die-hard crypto believers— who expect the market to rebound strongly and institutional investors—who need to get digital assets for short selling.
The downturn in the crypto market that saw cryptocurrencies lose more than half of their values have continued into the new year. Since the crash started in November, the number of blockchain companies restructuring their operations has increased as companies devise new methods to survive the bear market.
In the last three months, we have witnessed a litany of blockchain companies forced to shut down operations and in some cases, layoff team members to stay afloat. In spite of this mild depression, crypto lending has continued to thrive regardless, according to a Bloomberg report.