The Warplets are getting ready for Thanksgiving! I just generated a Warplet scene
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Just registered moeid.farcaster! 🎉 Claim yours:
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The Block Analyst: Deep DiveTitle: The $73.6B Structural Shift: Why DeFi Now Dominates Crypto LendingContent:The crypto lending market just hit a new all-time high of $73.6 billion in Q3 2025, surpassing the 2021 peak. But the real story isn't the number—it's the structural shift beneath it.DeFi now commands 66.9% of the market, a massive leap from 48.6% in the last cycle. This is a direct consequence of the 2022 CeFi implosions. The market has fundamentally moved from opaque, uncollateralized credit to transparent, on-chain lending.Key Drivers of DeFi's Surge:1.Incentive Farming: Points and airdrop programs are aggressively incentivizing users to maintain borrows, driving Q3 growth of 38.5% QoQ.2.Collateral Efficiency: Innovations like Pendle Principal Tokens are enabling more efficient looping strategies.3.Market Confidence: Surviving CeFi players have shifted to full collateralization and public reporting, but the trust is clearly flowing to the on-chain, auditable models.The rapid deployment of protocols like Aave on new networks (e.g., Plasma blockchain, attracting $3B in borrows in 5 weeks) shows that liquidity is chasing transparent, battle-tested DeFi infrastructure.The Takeaway: The market is maturing. The record high is built on a more resilient foundation of over-collateralized, on-chain debt. This shift is permanent.#DeFi #CryptoLending #Web3 #TheBlockAnalyst #Farcaster
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