Report: Bitcoin-backed lending market may grow to $1 trillion in the next 10 years

According to a report released by crypto lending platform Ledn, the Bitcoin-backed lending market could grow from its current size of approximately $3 billion to $1 trillion over the next 10 years. The report cites data from a survey of 1,244 crypto asset holders in the US and Australia, showing that 88% of respondents expressed a willingness to use crypto asset-backed loans or credit products, but currently only 14% are actually using them. Ledn states that this represents a "6:1 willingness-to-adoption gap," and the biggest obstacle in the industry is not insufficient demand, but rather trust issues. The report points out that users' biggest concerns include crypto asset price volatility, liquidation risks, and regulatory uncertainty. Furthermore, platform reputation, asset custody security, loan term transparency, and risk management capabilities are considered more important than the interest rate itself.