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Crypto Leverage Hits Record High in Q3 as DeFi Dominance Reshapes Market Structure: Galaxy

Crypto Leverage Hits Record High in Q3 as DeFi Dominance Reshapes Market Structure: Galaxy

2025-11-20

Onchain lending drove crypto-collateralized debt to a new peak in last quarter, but the leverage underpinning the market is now better collateralized than during the previous cycle.

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