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40+ DeFi Statistics, Facts, and Trends

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DeFi, or Decentralized Finance, is a peer-to-peer financial service reliant on blockchain technology.

Since the early 90s, when Bitcoin was conceived, the DeFi market has continued growing and setting new records in the financial sector.

So, whether you are a new investor or an old hand in the DeFi space, you’ll love to know these current and interesting DeFi statistics.

Top 8 Statistics on DeFi (Editor’s Pick)

  • The DeFi market will be worth $45.33 billion in 2023.
  • The highest value for the cryptocurrency market was $3.048 quadrillion.
  • The DeFi market will grow at a 42.5% CAGR until 2030.
  • The DeFi market has recorded a 2100% revenue growth since 2021.
  • India received the highest DeFi exchange in South and Central Asia in 2022.
  • The top 15 stablecoins lost 3.1% in Q3 of 2022.
  • Vietnam led in global cryptocurrency adoption in 2022.
  • The top four DeFi protocols account for over 50% of the total DeFi TVL value.

Infographic

top 8 statistics on defi
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DeFi Market Statistics

1. The DeFi market will be worth $45.33 billion in 2023.

The Decentralized Finance market was worth $45.33 billion as of January 18, 2023. 

It’s expected to grow to over $231 billion by 2030, representing a CAGR of 42.5% from 2022.

2. Bitcoin will remain the world's most valuable cryptocurrency in 2023.

As of January 18, 2023, Bitcoin was valued at $21,251 with a market cap of $409 billion, making it the most valuable global cryptocurrency. Ethereum and Tether were the second and third most valuable cryptocurrencies, with $193.01 billion and $66.04 billion market caps, respectively.

3. DeFi’s TVL increased by $5.39 billion in 30 days.

Between December 18, 2022, and January 17, 2023, DeFi’s TVL increased by $5.39 billion.

4. Curve is the largest DeFi DEX by TVL.

Curve, with a $4.55 billion value, is the largest DeFi DEX by TVL (Total Value Locked) as of January 2023. Uniswap comes second with a TVL of $3.79 billion, while PancakeSwap, with a $2.44 billion TVL, is third. Balancer and SUN round up the top five DEXs by TVL with $1.71 billion and $517.33 million, respectively.

largest defi dex by tvl in january 2023
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5. The highest value for the cryptocurrency market was $3.048 quadrillion.

The cryptocurrency market peaked on November 10, 2021, with a total market value of $3.048 quadrillion. The market has constantly been shrinking since then and is currently valued at approximately $983 billion in January 2023.

6. The highest Bitcoin value was $67,617 in November 2021.

The highest recorded Bitcoin value was $67,617 on 09/11/2021. Since then, the Bitcoin value has been trending downward, selling at $21,276 on 18/01/2023.

7. Daily DeFi transactions reached 6.6 million in January 2023.

About 6.686 million unique addresses traded DeFi assets in January 2023, up from 6.647 million in December 2022. In the first few weeks of 2023, DeFi trading remained stable, not going below 6.6 million.

8. There are over 8,000 cryptocurrencies currently in circulation.

There will be over 8,815 cryptocurrencies in circulation in 2023, with a total market cap of $994.35 billion.

9. Ethereum's daily transactions exceed one million in 2023.

Since the beginning of 2023, the daily Ethereum transactions have generally exceeded 1 million, save for a few exceptions. As of 17/01/2023, they were 1.018 million Ethereum transactions.

10. Cryptocurrency firms raised $21.26 billion in 2022.

In 2022, cryptocurrency companies raised $21.26 billion, which was 42% lower than the $37.06 billion raised in 2021. Though low, 2022 was a much better year compared to 2018, 2019, and 2020 where these crypto firms raised $16.22 billion, $4.48 billion, and $4.40 billion, respectively.

annual funds raised by crypto firms
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11. There will be over 6.6 million DeFi users in 2023.

As of January 2023, registered DeFi users amounted to over 6.68 million. 

That is about 1.5 million more users than in January 2022 and 30,000 more in December 2022.

DeFi Growth Statistics

12. The DeFi market will grow at a 42.5% CAGR until 2030.

The DeFi market will grow to $231.19 billion at a 42.5% Compound Annual Growth Rate (CAGR) from 2022 to 2030. The ability of DeFi platforms and protocols to eliminate intermediaries is one of the main reasons for this high growth rate.

13. The global blockchain market will grow to $67.4 billion by 2026.

This is up from $4.9 billion in 2021, with a 68.4% CAGR between 2022-2026

Increased venture capital funding and blockchain technology are the leading promoters of this rapid growth.

14. The DeFi market has recorded a 2100% revenue growth since 2021.

DeFi revenues have grown from $3.7 billion in January 2022 to $5.22 billion in December 2022, translating to a $1.5 billion increase. Compared to DeFi revenues in January 2021, which stood at $239 million, the DeFi market has recorded a 2100% growth increase in the reporting period.

15. DeFi grew by approximately 31% in Q3 2022.

The best-performing categories of the market include liquid staking, which grew by 271.1%, and fixed interest, at 89.7%. Asset management was the only category with negative growth, depreciating by 63.3%.

16. NFTs trading volumes fell by 77% in Q2-Q3 2022.

From a $9.2 billion trade volume in Q2, the NFT market recorded a $2.1 billion trade volume, representing a 77% drop.

17. The top 15 stablecoins lost 3.1% in Q3 of 2022.

The top 15 stablecoins recorded a $4.7 billion loss in the third quarter of 2022.

USDC was the biggest loser, dropping 16% or $9 billion. The biggest gainer was BUSD which gained 18% or 3 billion in market capitalization.

18. Between June 2020 and May 2021, North America’s cryptocurrency transaction volume grew by over 1000%.

North America’s cryptocurrency trade by volume grew from $14.4 billion to $164 billion in the reporting timeframe. The growing popularity of DeFi in North America, especially in the US, is the main reason for this rapid growth.

19. Global blockchain solutions spending to reach $19 billion by 2024.

Global blockchain spending will grow by over 180% between 2021 and 2024. According to blockchain data, total spending will increase from $6.6 billion in 2021 to $19 billion in 2024, representing a $12.4 billion boost – the most significant increase in five years.

20. Thena grew by 1800% in 7 days.

Thena’s TVL grew from $5 million to $90 million within a week. Thena offers investors a 9.97% yield on stablecoin and a 222.86% yield on its native coin stakes.

21. DEX trade by volume grew by 110% in November 2022.

The monthly DEX trade by volume grew by 110% from $50.8 billion in October 2022 to $107.1 billion in November. The main reason for this increased trading is attributed to FTX’s bankruptcy.

DeFi Statistics by Country

22. China was the global leader in blockchain technology in 2022.

Japan, the US, Switzerland, and Germany are the other top five countries globally leading in blockchain technology improvement and adoption in 2022.

23. Vietnam led in global cryptocurrency adoption in 2022.

The Philippines, Ukraine, India, and the US make up the top five countries with the fastest cryptocurrency adoption worldwide.

24. North America leads in DeFi value received by region.

North America, specifically the US, recorded the highest value of DeFi received by region between June 2020 and July 2021. DeFi interactions in North America accounted for over 45% of this period’s financial market value.

25. DeFi accounted for 37% of all North America’s cryptocurrency transactions.

Between Q3 2021 and Q2 2022, DeFi accounted for 37% of the total North American cryptocurrency transactions by volume. DeFi also accounted for 31% and 13% of the cryptocurrency transactions by volume in Western Europe and Sub-Saharan Africa, respectively.

26. India received the highest DeFi exchange in South and Central Asia in 2022.

India received over $150 billion between 2021 and 2022 in DeFi, specifically in cryptocurrencies, more than any other country in the South & Central Asia region. 

The US was the first country by DeFi value received in the world within the same period, with just shy of $1 trillion.

27. The UK is Europe's biggest DeFi district.

The UK accounted for $233 billion of Europe’s DeFi received value between Q3 2021 and Q2 2022. Additionally, the UK is responsible for 20% of all DeFi-related traffic in Europe, especially in lending contract-related and NFT websites.

28. In 2022, 70% of Ireland and Norway’s DeFi-related web-related traffic concerned NFTs.

NFTs run the DeFi sector in Europe, with many Europeans using them for DeFi-related activities.

DeFi Statistics by Segment

DeFi Protocol Statistics

29. The top four DeFi protocols account for over 50% of the total DeFi TVL value.

Lido, MarkerDAO, Curve, and AAVE 2 have a combined value of $23.94 billion, accounting for 52.8% of the DeFi market TVL.

30. Lido is the largest DeFi protocol by TVL.

Lido had an estimated $8.19 billion value in January 2023. Lido’s liquid staking protocol had witnessed over 33% value growth, with most investments coming from the Ethereum blockchain to make $8.11 billion.

31. AAVE V2 is the largest DeFi lending protocol by TVL in January 2023.

As of 23/01/2023, AAVE V2 is the most extensive DeFi lending protocol with a TVL of $4.1 billion, followed by JustLend at $3.39 billion and Venus at $878.25 million.

largest defi lending protocols in january 2023
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32. MarkerDAO’s revenue crashed by 86% in Q3 2022.

MarkerDAO’s revenue fell from $30 million to $4 million in this period

Weak loan demands and high operating costs were some of the major contributing factors to this revenue drop.

MarkerDAO’s most significant revenue drops were in Ethereum-based assets (74%) and BTC assets (66%).

DeFi Blockchain Statistics

33. There are over 81 million Blockchain.com wallets globally.

Registered Bitcoin wallets were more than 81 million on Blockchain.com alone as of November 2022.

34. Ethereum is the largest blockchain by TVL in 2023.

With a $23.07 billion TVL, Ethereum is the largest blockchain in the world as of January 3, 2023. Tron comes second with $4.15 billion TVL, and BNB third with $4.08 billion TVL. Arbitrum and Polygon make up the top five blockchains by TVL, with $1.02 billion and $995 million, respectively.

largest blockchains by tvl 2023
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35. Solana lost 96% of its TVL in 2022.

Solana, one of the fastest-growing blockchains, lost over 96% of its TVL in December 2022. The Solana ecosystem was worth $6.68 billion at the beginning of the year but fell to less than $290 million by the end of 2022.

36. Lending accounted for the biggest share of Ethereum's blockchain TVL.

Amounting to $47.4 billion or 50.06% of Ethereum’s TVL in 2022, lending was the biggest Ethereum revenue earner. Other Ethereum segments include Decentralized Exchanges (DEXs), which account for $24.95 billion, assets ($17.19 billion), derivatives ($2.21 billion), and payments ($1.89 billion).

DeFi Theft Statistics

37. Crypto stolen through hacks amounted to $1.9 billion as of July 2022.

Which is $700 million higher than the $1.2 billion worth of crypto stolen through hacks by July 2021.

38. While crypto hacks increased, crypto scams went down in 2022.

The total crypto scam value as of July 2022 was $1.6 billion, which was 65% lower than in 2021. Additionally, the monthly crypto deposits to scam accounts fell drastically in 2022 compared to the four previous years.

39. The Ronin Network lost over $600 million to hackers.

In March 2022, hackers breached Ronin Network, a Sky Mavis-built blockchain, and stole approximately $625 million worth of Ethereum and USDC. This was one of the biggest crypto market heists in history.

40. BSC Token Hub loses two million Binance coins worth approximately $586 million.

In October 2022, hackers breached the BSC Token’s proof verification process and stole Binance coins worth millions. The hackers used Venus finance to swap the stolen assets and bridged through several DeFi networks.

41. Poly Network lost over $600 million to hackers in 2021.

On August 10, 2021, the attacker pulled off the scam by exploiting a weakness in the smart contract system Poly Network used for cross-chain transactions.

42. Hackers stole $3.5 billion from blockchain companies in 2022.

Binance Bridges and Binance Smart Chain were most affected, losing $2 billion in 92 scams and hacks. Other victims included the Ethereum ecosystem, which lost over $500 million, the Solana ecosystem (over $196 million), and NFT (over $88 million).

43. 97% of all crypto scams in Q1 2022 came from DeFi protocols.

In Q1 2020, crypto scams related to DeFi protocols stood at 30%. The number grew to 72% in Q1 2021 and reached 97% in Q1 2022.

crypto scams related to defi protocols
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44. North Korea was allegedly responsible for the single highest crypto heist in 2022.

According to the FBI, the Lazarus Group, affiliated with the North Korean government, was responsible for the over $600 million lost by the Ronin Network in March of 2022. The Lazarus group is estimated to have stolen over $1.75 billion in the last couple of years.

45. Code exploits and security breaches are the significant causes of crypto theft.

In 2022, code exploits and security breaches accounted for over 97% of all cryptocurrency thefts. On the other hand, crypto theft due to flash loans has been decreasing for the last three years.

46. Over 50% of all stolen crypto funds went to risky services in 2022.

In 2017, 2019, and 2020, the largest share of stolen crypto funds was laundered via centralized finance. But in 2022, most stolen crypto went to risky services.

Invest in DeFi Responsibly

Our statistics show that the DeFi space is lucrative and can increase your revenue. However, it is also critical to note that this digital marketplace poses severe risks to your online and financial safety.

Please read our guide on the 5 best VPNs for crypto trading for hack-proof online privacy tips.

References:
  1. 41+ Brand New DeFi Statistics (2023) (explodingtopics.com)
  2. 14+ Eye-Opening DeFi Statistics & Facts for 2022 | Bankless Times
  3. Top Decentralized Finance (DeFi) Trends in 2023 | HackerNoon
  4. DefiLlama – DeFi Dashboard
  5. DeFi Statistics [updated in 2023] (nansen.ai)
  6. Q3 2022 Cryptocurrency Report (coingecko.com)
  7. 30+ DeFi statistics 2022: how it is weathering the crypto storm | Invezz
  8. Top 10 Countries Leading Blockchain Technology In The World (blockchain-council.org)
  9. 2022 Global Cryptocurrency Adoption Index – Chainalysis
  10. DeFi Protocol Thena’s Total Value Locked Surged to $90M in Its First Week (coindesk.com)
  11. 27 DeFi Statistics (2022) and Market Trends to Watch (guruscoach.com)
  12. Top 10 Crypto Countries By Transaction Volume in 2022 (defi-planet.com)
  13. Monthly DEX Trading Volume Increased in November by 110% – Cryptorank News
  14. Guest Post by RikkeiFinance: 30+ Eye-Opening Blockchain Statistics In 2022 | CoinMarketCap
  15. Axie Infinity’s Ronin network suffers hack and theft of over $600 million | CNN Business
  16. Poly Network Attacker Returning Funds After Pulling Off Biggest DeFi Theft Ever – Chainalysis
  17. Blockchain hackers stole over $3.5 billion in 2022 – Atlas VPN
  18. DeFi Hacks Are Stealing More Crypto Than Ever Before (chainalysis.com)
  19. FBI says North Korean hackers stole more than $600 million in cryptocurrency in single hack | CNN Politics
  20. THE TOP 5 COUNTRIES IN THE WORLD LEADING IN BLOCKCHAIN TECHNOLOGY (blockchainmagazine.net)
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