Crypto Holders Borrow More as Market Conditions Weaken

Crypto holders increasingly relied on loans backed by digital assets as market conditions weakened in 2026, according to research from CryptoQuant.

The report analyzed data from CoinRabbit and found higher borrowing activity among both retail and high-net-worth users.

Retail users recorded the biggest change in borrowing activity, with their average number of loans rising by 74%, from 30.8 per user in 2025 to 53.5 in 2026. High-net-worth users saw a more modest increase of 18%, from 16.5 to 19.4.

The share of users taking multiple loans increased from 61.9% to 65.1%, with retail borrowers waiting an average of 21 days between loans, compared to 11 days previously.