- Genesis Capital lending services offer clients opportunities for maximizing growth.
- Bitcoin loans decreased by 17.9% while Ethereum posted a surge from 4% to 7.5%.
Genesis Capital, a company that concentrates on institutional digital asset lending has reported a significant increase in stablecoin and cash loans in its third-quarter financial report. In addition to that, the firm reported an increase in new originations from $746 million in the Q2 to $870 in the Q3.
“Our loan portfolio largely sustained its value through increased cash (USD and stablecoin) loan issuance, offset by a decrease in the notional value of crypto loans outstanding.”
The company holds $140 million in ongoing cash loans. It is a significant drop from $160 million recorded in December. The drop is linked to the recent drop in the price of Bitcoin from levels above $10,000 to $8,000.
The institutional digital asset lending platform has posted a drop in Bitcoin loans from 68.1% in the Q1 to 50.2% in the Q3. A significant growth was experienced among the altcoins with Ethereum leading from below 4% to 7.5%.
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