Key Takeaways
- Ethereum Defi apps see unique addresses surpass 3 million
- Ethereum users have increased significantly since 2018
- Most of the users' addresses come from the Uniswap platform
Ethereum is seen as the leading DeFi network with a fast-growing ecosystem. A detailed look at this survey proved that most of these unique addresses prefer the defi Uniswap protocol, thus registering nothing less than 2.4 million users since December 2018.
Detailed statistics were sourced from Dune Analytics, a blockchain research tool, further proving that the number of unique ethereum users or addresses taking advantage of the defi network has exceeded 3 million.
Further proof shows that Ethereum controls roughly 77% of TVL on major platforms, even though nothing less than 20% of the set value has been dropped over recent times. BSC, on its part, has emerged as a major contender, occupying about $15 billion of TVL. Not only that, the effect of Polygon has started diminishing the stronghold of Ethereum's.
Uniswap Dex protocol presently boasts of about 2,438,374 addresses, which without blocking it, is worth noting that a successor cube can have more than one unique address. The data recorded in the above Dune Analytics "Defi Users Over Time" only shows a capture of Ethereum-based defi applications.
Popular DeFi lending protocol Compound has over 326,00 addresses, while the 1Inch protocol boasts about 276,924 unique addresses. This research proves that the latest price recovery witnessed in the crypto market is related to the increase in unique addresses on DeFi. Thus the DeFi bubble is still on as more users leverage different protocols to maximize earning opportunities.
What do you think of the new defi happening over the last week?
