Sharp jump in network activity in DeFi market is recorded

by in DeFi News


In a study by the ConsenSys team, the number of ETH addresses interacting with DeFi protocols expanded dramatically in the second quarter of 2021.

This show in the reporting period soared by 65%, analysts said. The total number of wallets deployed on ETH increased by 10% in the last quarter.

Currently, the lion’s share of projects representing decentralized financing are launched based on Ethereum. The value of funds locked in this ecosystem now exceeds $ 90.147 billion.

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DeFi protocols on the ETH network have accumulated funds worth just over $ 68.8B. The rest of the projects are available on several more blockchains, including Binance Smart Chain and Solana.

Over the past quarter, there has been a growing number of new addresses on the Ethereum network that interact with DeFi protocols. As of the beginning of July, the number of wallets in contact with Uniswap, Compound, KeeperDAO reached 2.91 million.

In parallel, analysts drew attention to the growth in the supply of stablecoins on the ETH blockchain. The leaders were again Tether (USDT) and USD Coin (USDC). About 25% of USDC stablecoins are in the DeFi lending protocols, experts found.