Crypto Holders Shift to Loans as Market Conditions Weaken

Crypto holders are increasingly relying on loans backed by digital assets as market conditions weaken in 2026. According to research from CryptoQuant, borrowing activity among both retail and high-net-worth users has risen significantly.

The report analyzed data from crypto lender CoinRabbit and found that retail users recorded the biggest change in borrowing activity during the period. Their average number of loans rose 74%, from 30.8 per user in 2025 to 53.5 in 2026, while high-net-worth users saw an 18% increase.

Repeat borrowing also became more common across the platform, with a higher share of users taking multiple loans increasing from 61.9% to 65.1%. Retail borrowers waited an average of 21 days between loans, compared with 11 days previously.