According to CoinMeta, in the second quarter of 2026, the scale of crypto asset collateral lending decreased by 16.78% month-on-month to $56.16 billion. Among this, DeFi outstanding loans fell by 27.61% to $20.43 billion, and CeFi declined by 9.62% to $22.98 billion. When combined, the total amount of on-chain lending amounted to $43.41 billion. The share of DeFi dropped to 47.05%, while the portion of stablecoins used as collateral for crypto lending was 22.7%. The number of open futures positions slightly decreased, with BTC / ETH still dominating the market. Overall, there was a moderate deleveraging process that was healthy and downward trending.