DeFi the odds: Total user numbers up 55% in just six weeks
DeFi the odds: Total user numbers upwards 55% in merely half-dozen weeks
Decentralized finance users steadily increased by forty% during October, despite many DeFi tokens posting heavy losses for the month.
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While many decentralized finance tokens suffered heavy losses last month, prompting hastily written obituaries about the DeFi "chimera," metrics measuring user activeness saw sustained, sector-wide growth.
According to crypto market information aggregator Dune Analytics, the total number of unique DeFi user addresses is around 860,000, an increase of roughly x times over the past year. Yet, that figure is cumulative, and users might have more than i address.
Despite many DeFi tokens shedding significant value last month, the sector's user count increased in October by virtually xl%, from roughly 555,000 to 775,000.
A further 85,000 users joined DeFi during the first xi days of November, increasing the number of users by 11% in less than two weeks. In total, that means DeFi user numbers have grown 55% from the get-go of Oct.
Lending protocol Compound and decentralized commutation Dydx were amid DeFi's strongest gainers, increasing their user bases over the past thirty days by 250% and 50%, respectively.
Compound'due south accented growth of 135,000 new users over the past calendar month even exceeded the 110,000 attracted past leading DEX Uniswap.
The quantity of markets hosted on Uniswap is too quickly expanding, with the number of pairings on the platform increasing 34%, from roughly 16,200 to 21,700 over 30 days.
Dune estimates that about 81,000 users interacted with Uniswap over the past calendar week — equal to 9.4% of all unique addresses in engaging with the entire DeFi sector.
Uniswap currently represents 63.6% of daily DEX merchandise, followed by Curve with 12.2%, SushiSwap with 8.64%, and 0x with 7%. Equally such, just four exchanges make upwards more than 91% of total DEX volume.
Source: https://cointelegraph.com/news/defi-the-odds-total-user-numbers-up-55-in-just-six-weeks
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