DeFi Has Made Great Progress In The Last 5 Years

Although the crypto money industry has gone through tough market conditions like last year, the number of investors involved in the market continues to increase. According to new data released by market research company Statista in the past weeks, the DeFi industry has made great progress in the last 5 years. According to month-end figures, the number of wallets in the DeFi market was only 189 in December 2017, but today this figure has exceeded 6 and a half million.

Since the first day of 2023, a recovery has been observed in cryptocurrencies. While Bitcoin gained 38% in about a month, 35 thousand people joined the DeFi industry, according to the data. Statista researchers emphasized that the actual number may be less than it should be due to the possibility that a person may use different crypto addresses. Researcher Raynor de Best made the following statement after the report:

“The DeFi industry is not under the control of an official government. Therefore, our only source of data on market size is on-chain data. We monitor activity on the Ethereum network in particular.”

Data released last week at the World Economic Forum in Davos, Switzerland, show that the adoption of cryptocurrencies is on the rise. According to the data, while the number of crypto money holders was 300 million in January 2022, this figure has reached 425 million today.