Ledn's Bitcoin loan distribution has exceeded 1 billion USD this year, showing signs of recovery in the Bitcoin credit market.

According to Mars Finance, on October 28, CoinDesk reported that the total amount of loans issued by the Bitcoin lending institution Ledn has exceeded $1 billion this year, with the amount of Bitcoin-backed loans issued in the third quarter reaching $392 million. At the same time, the company's annual recurring revenue has also reached $100 million, reflecting the recovery trend of the Bitcoin credit market. As of the end of September, its outstanding loans amounted to $836.2 million, with an average loan-to-value (LTV) ratio of 42.7%, significantly lower than the industry's high-risk range. According to data from Galaxy Research, this institution is currently the third largest centralized lending institution in the world, behind Tether and Galaxy.

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