Ethereum’s Defi Platform Hitted 3M Users, Still Defi Have Future?
According to Dune Analytics, there are a total 3 million users of the Defi ecosystem. Which is clearly showing that Defi growth is exponentially growing day by day.
Defi is a concept to make all crypto related services fully Decentralized. After 2 year of this concept, many experts say, Defi has no more future. Since there are many reasons to criticize but there are records which are giving perfect reply to all the “Defi Ecosystem” haters.
Related: DeFi Is A Replacement For Traditional Finance
Dune Analytics reported about the Unique users of the Defi based application. They did their analysis based on a total 24 leading Defi platforms.
According to them, there are a total 3 million users who are using the Defi ecosystem.
On 13 July, they recorded a total 3,004,620 unique addresses which were using at least one out of 24 Defi applications.
Richard Chen tried to figure out the records of Ethereum’s native Defi Platform Uniswap and also included his favourite platforms also, which are Compound, Uniswap, Aave, Curve, and Balancer.
Analysis report says, Uniswap,which is the most dominant Defi application of Ethereum, is on top of this record. Uniswap has a total 2.3 million unique users till now.
Compound is at second number in the rank and it has a total 325,000 unique users after the launch.
Records have been further pointed out by Mason Nystrom, where he revealed that in 142 days, users increased by 1 million ( 1 million to 2 million).
And the next 1 to 3 month took only 78 days.
In this downtrend situation of the cryptocurrency market, we can see exponential growth in the Defi ecosystem, which is showing how much the Defi based projects have influence in the crypto market.
In the last few months, Synthetix and Compound like platforms launched new projects on their platform that resulted in huge adoption by the crypto community. Probably there are many things which will be done on the Defi Ecosystem and that will boost the Defi ecosystem near the traditional finance system.
Read also:4 People Arrested In Japan For $54M Crypto Investment Fraud
