Blend Lending Market Weekly Performance Analysis

After the launch of the Blend platform, the NFT lending sector has seen significant growth. Compared to the previous week, loan volumes surged by 370.5%. In the past week, a certain DEX accounted for 74.6% of the market share.

Data shows that Blend has facilitated loans of 39,112 ETH, involving 2,387 transactions. The average loan amount is 16.39 ETH.

There are currently 432 active loans involving 3,320 ETH. This indicates that approximately 81% of the loans issued in the first week have been repaid. Notably, the average loan size has decreased to 7.68 ETH, which may reflect users' increased awareness of the risks associated with high-value loans.

The daily loan volume shows a downward trend, decreasing from 499 transactions on the first day to 295 transactions on the seventh day. This may be due to a decline in novelty and an increase in risk awareness, and the high Gas fees may also be one of the influencing factors.

Despite the considerable trading volume, the number of participants is relatively limited. There are only 574 borrowers and 501 lenders, indicating that most transactions are concentrated among a small number of users, which is consistent with the common phenomenon in the NFT market.

In terms of collectibles, Milady accounts for 62% of active loans by quantity, while Azuki and Punks account for 31% and 7% respectively. However, in terms of ETH value, Azuki accounts for 47%, Punks for 34%, and Milady for 19%.

Changes in the floor price of collectibles:

• Milady: 2.789 ETH → 3.63 ETH (+30.1%)
• Azuki: 15 ETH → 15.09 ETH (+0.6%)
• Punks: 50 ETH → 51.88 ETH (+3.76%)

Milady is the only NFT series that has consistently increased its floor price. Although Azuki and Punks saw an initial rise, they subsequently experienced a significant pullback.

A new NFT series is expected to join the Blend platform soon, possibly similar to Nakamigo. This move may bring new vitality and opportunities to the platform.