Nexo Claims #2 Spot Among CeFi Lenders | Galvanizing Market Share Report
Edited By
Markus Huber
Nexo has emerged as the second-largest centralized finance (CeFi) lender, according to the latest Galaxy Research Q2 2025 report on crypto lending. With a market share of about 11% as of June 30, it stands just behind Tether. This shift highlights Nexo's stability amid a tumultuous financial climate for CeFi providers.
Shifting Dynamics within CeFi Lending
The report indicates that the top three lenders—Tether, Nexo, and another unnamed leader—hold over 74% of the total CeFi lending market. This consolidation reflects a significant change in lending behaviors, particularly following recent industry challenges.
Interestingly, “this sets a solid precedent for others,” as some commenters noted. A visible trend shows institutions are choosing their trusted partners more carefully, moving beyond just retail borrowers.
Insights from the Community
Responses to the report highlight a mix of admiration and skepticism among the community:
Nexo's Success: User feedback applauded Nexo for “perfecting collateralized crypto lending.” The consensus seems to favor their transparent approach.
Questions on Tether: Users raised questions about Tether's lending practices. "Where does Tether 'lend' crypto?" asked one commenter, sparking a discussion on the distinctions between CeFi and DeFi.
Future Predictions: Some expressed optimism about Nexo’s position, noting, "With the US market coming, they might overtake Tether."
"This transition is mega bullish for Nexo, let's goooo!" - Enthusiastic comment from the forum.
Key Points at a Glance
🔎 Nexo's market share: 11%
✊ Combined market share of top three lenders: 74%
📅 Lending value among top lenders: $13 billion
🔗 "Nexo perfected collateralized crypto lending without compromising" - Community member
As crypto lending continues to evolve, Nexo’s ascent reflects broader market trends. Will it remain a steady leader, or can it surpass Tether? Only time will tell.
What Lies Ahead for Nexo in the Crypto Lending Landscape
There’s a strong chance Nexo could strengthen its grip on the CeFi market as the US expands its crypto lending audience. Experts estimate that if current trends hold, Nexo may elevate its market share to between 15% and 18% within the next year. This is likely due to its transparent operations and increasing trust among institutions seeking solid partners in the evolving financial ecosystem. However, regulatory shifts could also present hurdles, nudging lenders towards tighter compliance, which could impact overall lending figures. With institutions favoring established names, Nexo's rise is not just probable but plausible.
A Modern Echo of Historical Competitions
This scenario bears a striking resemblance to the banking evolution in the early 20th century, particularly during the rise of banks like J.P. Morgan. Just as J.P. Morgan emerged as a pillar in an uncertain financial world, Nexo's position reflects a growing trend among financial institutions seeking stability in a chaotic environment. Much like the bank runs of yesteryear that compelled alliances and solidified reputations, today's lenders are similarly focusing on trusted partnerships in a world often rattled by unexpected changes. The dynamics of trust seem to remain unchanged, proving crucial whether in traditional finance or today’s digital currency landscape.