DeFi or decentralized finance refers to financial services that are powered by blockchain infrastructure and aren’t controlled by a centralized authority such as a bank or a government, meaning that they provide. Although DeFi statistics show it’s still minuscule compared to TradFi, Defi is growing quickly and is already irreplaceable for many people who are unbanked or who want to send money abroad with much lower fees.
In this article, we will outline the basic DeFi stats, its value, the size of the sector’s segments, and details about its users by country. Keep reading for more!
Top 10 DeFi Statistics in 2023
The number of DeFi users in the world is estimated at 4.8 million in 2022.
Ethereum has the highest staked value in DeFi, with 58% of the total.
DeFi’s TVL is estimated at $55.9 billion as of November 6, 2022.
In Q3, DeFi’s growth amounted to 31% compared to Q2 2022.
The trading volume on DEXs has reached $952 billion in the last 12 months.
The market cap of DEXs increased by 36.8% in Q3 2022.
The country that received the highest DeFi value is India.
Between July 2021 and June 2022, India received the highest value through DeFi.
The US is the second in the world according to retail DeFi value received.
Europe’s most prominent DeFi player is the United Kingdom.
General DeFi Stats for 2023
The number of DeFi users worldwide is estimated at 4.87 million in 2022.
In the first seven months of 2022, the number of DeFi accounts grew by 660,000. This is a significant decrease compared to the same period in 2021 when the rise in DeFi accounts amounted to 1,775,000. This is unsurprising given that the crypto market experienced a major downturn in 2022.
(Dune)
DeFi’s TVL is estimated at $55.9 billion as of November 6, 2022.
With volatility marking 2022, DeFi’s TVL dropped drastically since the beginning of the year and the collapse of Terra. For comparison, in January, the total value locked in DeFi was almost three times as large at $154 billion.
(DeFi Llama, CoinGecko)
Ethereum has the highest staked value of all blockchains in DeFi, with 58% of the total value.
One of the basic facts on DeFi is that it’s powered by the Ethereum blockchain, which consequently holds 58% of the industry’s TVL. Ethereum is the second-largest blockchain and a pioneer in the DeFi and smart contracts world, so it naturally has the high ground. After Ethereum, BSC and Tron have the highest TVL, with BSC holding 9.86% of TVL and Tron holding 9.68%.
(Statista)
The growth of the DeFi market is estimated to happen at a CAGR of 42.5% until 2030.
The DeFi industry’s size was estimated at $11.9 billion in 2021 while it’s expected to reach $231.19 billion in 2030. With further adoption of digital financial services and acceptance of services enabled by blockchain, the young industry is expected to keep expanding its services.
(Grand View Research)
In Q3, DeFi’s growth amounted to 31% compared to Q2 2022.
With its connection to the Ethereum network, it’s unsurprising that DeFi bounced back in Q3 along with it. The fastest-growing DeFi segment in this quarter was liquid staking, with an exceptional 271% growth in market cap compared to Q2.
(CoinGecko)
There are about one million daily transactions on the Ethereum network, compared to over a billion via credit cards alone.
Although DeFi is growing and attracting the attention of individuals and institutions alike, one of the top DeFi facts is that it’s still incredibly small compared to traditional finance. To illustrate further, the commercial banking market is estimated at $2.7 trillion, while DeFi was worth around $11.9 billion according to the latest DeFi statistics. These statistics don’t include other sectors such as insurance and investing, however, the discrepancy in size is just as prominent.
(YCHarts, Nilson, IBIS World)
The most popular DeFi coin at the moment is stETH.
stETH or Lido Staked Ether is ETH used on the popular liquid staking platform. With liquid staking tripling in Q3 2022, following its development will be pretty interesting.
(CoinGecko)
Stats on DeFi Segments
DEXs are the by far largest DeFi segment at 44.5% of the market cap share.
With a market cap share of 44.5%, DEXs remain the largest segment in the decentralized finance world. Oracles (systems that enable the implementation of hybrid smart contracts, vital for the development of Web 3.0) are the second-largest segment with 18.5% of the market cap, while Lending takes up 15.8% of the market cap in Q3 2022.
(CoinGecko)
The trading volume on decentralized exchanges has reached $952 billion in the last 12 months.
At around $1 billion in volume per day, the world’s largest DEX Uniswap accounts for most of this volume. What’s more, it has around 70% of the DEX market share. DODO, Curve, and Sushiswap are next on the list below Uniswap when it comes to market share. However, with market shares peaking at around 12% for the biggest, DODO, they are still far behind.
(Dune)
The market cap of DEXs increased by 36.8% in Q3 2022.
The latest statistics on DeFi show the market cap of DEXs climbed to $10.9 billion in Q3. Oracles grew by 18.9% to $4.52 billion, while Lending grew by 16.7% to $3.86 billion. The only segment that fell during this quarter is Asset Management, which dropped by 63.3%.
(CoinGecko)
DeFi Users By Country
Between July 2021 and June 2022, the country that received the highest value in DeFi is India.
India ranks first when it comes to the value of DeFi transactions for individuals and when it comes to retail-sized transactions. Moreover, in India, ETH accounts for about 40% of the total received crypto value. One reason for this is that India receives a lot of remittances that are more easily and more affordably sent as cryptocurrency. Lebanon has the second-highest value received through DeFi protocols.
(Chainalysis)
The US is the second in the world according to retail DeFi value received.
With India and Lebanon leading the way when it comes to DeFi transactions, the United States is the country with the highest number of interactions with DeFi of all developed markets. Its interactions with decentralized finance are driven by interest in innovation and investment, as it’s among the better-known facts on DeFi that many key players such as Uniswap originate from the US. When it comes to smaller-sized DeFi transactions, the US ranks third.
(Chainalysis)
DeFi made up 37% of all North American crypto transaction volume between July 2021 and June 2022.
DeFi statistics show North America has the highest participation of DeFi in crypto transactions globally. It’s followed by Western Europe with 31%, which the report explains with the fact investing and speculation are more likely in markets with higher purchasing power. Other regions have significantly lower DeFi activity compared to overall crypto transaction volume.
(Chainalysis)
Europe’s most prominent DeFi player is the United Kingdom.
As Western, Northern, and Central Europe stand out as the region with the largest crypto economy in the world, it’s not surprising that the region is strong when it comes to DeFi, too. And in the DeFi sector, the UK is the leader. The country drives almost 20% of the entire region’s web traffic to both NFT and DeFi lending websites.
(Chainalysis)
DeFi Statistics: FAQ
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The Takeaway
DeFi is the most innovative segment in crypto, offering opportunities for many services present in traditional finance as well, including investing, saving, exchanges, lending, sending remittances, and insurance. The DeFi market is still tiny compared to traditional finance, but it’s growing at a 42.5% CAGR, and recovering even in a difficult year for all global markets.
DeFi statistics show there are still fewer than five million unique accounts as of July 2022. However, the DeFi sector is making waves in countries that have high purchasing power such as the UK and the US, and in countries with lower and middle incomes such as India and Lebanon, where it’s useful as a transaction path.
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