There are already 2.91 million addresses participating in DeFi projects, according to a new ConsenSys report on the state of the decentralized finance industry. This is 65% more than in the previous quarter.
In the report, analysts emphasize that such growth has been fueled by the rise in popularity of DeFi projects. It has become much easier for users to participate in the DeFi space – user interfaces have become more friendly, there is more information about projects. The profitability offered by DeFi services is also important.
At the same time, analysts remind that the number of Ethereum addresses that interacted with DeFi projects does not equal the number of users or wallets. One user can have multiple wallets, and a wallet can have multiple addresses. This happens especially often with MetaMask wallets, since it is very easy to create a new address in this application. Despite this, the number of active users of the application exceeded 8.5 million people.
“In part, the rise in MetaMask users has driven support for third-party blockchains that are compatible with the Ethereum Virtual Machine. For example, support for Binance Smart Chain and Polygon, ”the researchers write.
As for the total number of active Ethereum addresses, the figure was 165 million. At the beginning of the year, there were 131 million such addresses. Thus, only 2% of Ethereum addresses interacted with DeFi projects.
Analysts also recalled the significant growth in the capitalization of stablecoins – an indirect indicator of the growth of the DeFi industry. For the II quarter of 2021, the figure increased by 60% at once.
Earlier, the chairman of the US Securities and Exchange Commission (SEC) Gary Gensler (Gary Gensler) said the need to strengthen control over cryptocurrencies, especially over the DeFi industry, to protect the interests of investors.
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