Investors increasingly used crypto holdings as collateral for loans rather than selling during the 2026 bear market, CryptoQuant said. Data from lending platform CoinRabbit showed that the average number of borrowings per investor rose after the downturn began compared with the 2025 bull market. Among whales, Bitcoin’s share of collateral fell from 57.8% to 30.5% as holdings rotated toward ZEC, while XRP became the leading collateral asset among individual investors.