While many decentralized financial brands have suffered heavy losses over the past monthresulting in DeFi bubble obituaries being written quickly, Metrics that measure user activity saw continued growth across the industry.
According to the Crypto Market Data Aggregator Dune Analytics The total number of unique DeFi user addresses is around 860,000, a five-fold increase compared to the previous year. However, this number is cumulative and users can have more than one address.
Despite the fact that many DeFi tokens have depreciated significantly in the past month, The number of users in this sector rose in October by almost 40% from around 555,000 to 775,000.
Another 85,000 users joined DeFi in the first eleven days of November. User numbers increased by 11% in less than two weeks. Overall that means The number of DeFi users has increased 55% since the beginning of October.
The loan log Compound and Decentralized Exchange Dydx was one of DeFi’s biggest winners, increasing its user base by 250% and 50% respectively over the past 30 days.
The absolute growth of the connection, than 135,000 new users in the last month, even surpassed the 110,000 attracted by the leading DEX Uniswap.
The number of markets hosted on Uniswap is also growing rapidly. The number of peers on the platform increases by 34%.from about 16,200 to 21,700 in 30 days.
Dunes appreciation What Almost 81,000 users have interacted with Uniswap in the past week, which is 9.4% of all unique addresses dealing with the entire DeFi sector.
Uniswap currently accounts for 63.6% of daily DEX trading;; followed by curve with 12.2%; SushiSwap with 8.64%; and 0x with 7%. So, Only four exchanges account for more than 91% of the total volume of DEXs.
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