The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
Analysis

Ethereum DeFi Ecosystem Has Hit 3 Million Users

by Miki 07/19/2021
by Miki 07/19/2021 0 comment

DeFi adoption is showing no sign of slowing down, as the total number of unique addresses hits 3 million.

DeFi Continues to See Exponential Growth  

According to data from Dune Analytics, the total number of unique addresses interacting with DeFi has passed 3 million. As of Jul. 13, the analytics tool found 3,004,620 addresses using at least one of the 24 applications tracked by the platform. 

A dashboard compiled by crypto enthusiast Richard Chen tracks a range of Ethereum-native protocols to find the total number of unique wallets interacting with the ecosystem. Established favorites like Compound, Uniswap, Aave, Curve, and Balancer are tracked on the dashboard.

Ethereum’s top decentralized exchange, Uniswap, came in as the most popular DeFi protocol by far, with over 2.3 million unique addresses. Compound, a decentralized money market, is currently placed second, racking up 325,000 addresses since launch. 

Despite a market-wide drawdown in May, DeFi use has continued to see exponential growth. It took approximately 11 months for the number of unique addresses to grow from 100,000 to one million, yet subsequent growth is happening at faster intervals. As Messari Research Analyst Mason Nystrom pointed out on Twitter, the move from 1 to 2 million took 142 days, whereas the jump from 2 to 3 million clocked in at only 78 days.  

142 days from one million to two million
78 days from two to three million

How many days until four million? https://t.co/vEQ5mCcN8p

— Mason Nystrom (@masonnystrom) July 12, 2021

While 3 million unique addresses is a significant milestone, it’s important to note that many users operate multiple addresses. Therefore, the real number of unique users is likely lower than the number of active addresses. 

Over the last month, several so-called DeFi “blue chips” such as Synthetix and Compound have surged in value following faster adoption and new product launches. As the space heats up, many will be hoping for a repeat of last year’s DeFi summer.

Disclaimer: At the time of writing this feature, the author owned BTC and ETH. 

Ankr's logo

This news was brought to you by ANKR, our preferred DeFi Partner.





Source link

Views: 0
DeFiecosystemEthereumHitmillionUsers
Share
0
FacebookTwitterPinterestEmail
previous post
Bitcoin, Ethereum, And XRP Slide As Bank Of America Establishes Its Own Dedicated Crypto Research Team ⋆ TCNW
next post
Ethereum Topside Bias Vulnerable If It Continues To Struggle Below $2.2K

Related Posts

Bitcoin is Struggling, But It’s Too Early to...

12/29/2021

Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

12/29/2021

Ethereum Recovery Could Soon Fade If ETH Fails...

12/28/2021

Charles Hoskinson Shares Cardano Plans for 2022

12/28/2021

Bitcoin Prints Bullish Pattern, Why BTC Could Surge...

12/27/2021

Ethereum Breaks Key Hurdle, Why There Could Be...

12/26/2021

Could Bitcoin Benefit From A Santa Claus Rally?

12/25/2021

$8.2M Lost as Visor Finance Suffers Latest DeFi...

12/25/2021

Bitcoin Gains Momentum, Why Rally Isn’t Over Yet

12/24/2021

2021 in Review: the Top 10 Crypto Moments...

12/24/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • Bitcoin & Cardano: Crucial levels for these ‘surging’ cryptos to maintain

  • El Salvador’s Bitcoin Adoption Can Cause Regulatory Risks for its Banks- Fitch Ratings

  • El Salvador Bitcoin Move Could Clog Network: JPMorgan

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Mining (0)
  • Ripple (149)
  • Uncategorized (0)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$29,097.00-2.50%
  • ethereumEthereum(ETH)$1,773.22-9.00%
  • tetherTether(USDT)$1.000.08%
  • usd-coinUSD Coin(USDC)$1.000.09%
  • binancecoinBNB(BNB)$303.37-7.50%
  • rippleXRP(XRP)$0.400549-1.87%
  • Binance USDBinance USD(BUSD)$1.000.44%
  • cardanoCardano(ADA)$0.471185-8.47%
  • SolanaSolana(SOL)$42.88-10.99%
  • dogecoinDogecoin(DOGE)$0.078820-6.12%
  • polkadotPolkadot(DOT)$9.05-8.58%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$29,111.00-2.36%
  • tronTRON(TRX)$0.080402-5.63%
  • Lido Staked EtherLido Staked Ether(STETH)$1,734.54-9.11%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • AvalancheAvalanche(AVAX)$23.05-16.49%
  • daiDai(DAI)$1.000.14%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • Shiba InuShiba Inu(SHIB)$0.000011-9.36%
  • LADZLADZ(LADZ)$0.0686894.36%
  • leo-tokenLEO Token(LEO)$4.86-1.17%
  • litecoinLitecoin(LTC)$63.12-7.25%
  • CronosCronos(CRO)$0.169004-8.54%
  • matic-networkPolygon(MATIC)$0.59-9.59%
  • HederaHedera(HBAR)$0.389473-3.44%
  • FTX TokenFTX Token(FTT)$27.31-5.36%
  • RareRare(RARE)$0.0461220.00%
  • NEAR ProtocolNEAR Protocol(NEAR)$5.13-10.88%
  • bitcoin-cashBitcoin Cash(BCH)$182.81-4.21%
  • moneroMonero(XMR)$187.41-6.22%