As shared by Zerion Founder Evgeny Yurtaev Twitter, over 1,000 assets were added during the month of May. The increase in users is in parallel with the number of new DeFi assets being added in the market. Over the span of 2020, it is edging towards 600,000, according to Ethereum’s analytics platform Dune Analytics. The number of DeFi users has immensely grown from around 100,000 users in January to roughly 200,000 users by May-end. As the year almost reaches Q4, let us take a look at the prominent trends that make DeFi one of the most sought-after crypto investments of today. The DeFi market has seen huge growth from May to June as the sector’s TVL now observed to grow by half a billion ($500 million) per week, sitting at $6.4 billion at the time of writing.įrom a TVL of just around $30 million in 2017 and roughly $190 million by 2018, the DeFi market continues to surge further. Unsurprisingly, 2020 has been the year when DeFi has been put into the hot seat of the crypto community’s public eye.ĭespite the first half of 2020 being negatively impacted by the global COVID-19 outbreak, decentralized applications and relatively new protocols powering decentralized exchanges, lending platforms, stablecoins, and more, have slowly established themselves.Īccording to TokenInsight, the historic crash of the crypto market during the ‘Black Thursday’ had a domino effect and yet despite this, the total value locked (TVL) in USD within the DeFi ecosystem has recovered and surged by $1 billion (147% increase) during this year’s period. The decentralized finance (DeFi) sector has emerged as an exciting and seemingly promising contributor to the growth of the blockchain and cryptocurrency industries.ĭespite the little to no interest in DeFi during 2018, this all-digital environment has shown a positive upward trajectory during 2019. DeFi solutions are yet to be accepted in the mainstream.TRON is trying to go head-to-head with Ethereum in the DeFi category.Two of the killer use cases of DeFi include high-yield savings accounts and access to credit.Ethereum’s transaction volumes reached an all-time high of $12 billion.Yield farming took the DeFi ecosystem into a further bullish position.Compound, Maker, Aave, and Synthetix have seen a substantial increase in investors since mid-June.DeFi tokens showed strong rallies throughout 2020.During H1 2020, the amount of DeFi’s TVL went through 4 major stages.Ethereum’s DeFi ecosystem heavily influenced 2020’s crypto market.
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