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Revolutionizing Traditional Finance: How DeFi is Poised to Disrupt the Status Quoby@ulriklykke
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Revolutionizing Traditional Finance: How DeFi is Poised to Disrupt the Status Quo

by Ulrik Lykke7mFebruary 10th, 2023
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The DeFi space had a tumultuous 2022, with the valuation of leading projects as indicated by market cap significantly down for the most part of 2022. Average weekly trading volumes for the DeFi sub crypto market declined by more than 100% from an all time high of over $70+ Billion in 2021 to less than 8 Billion by the end of 2022. However, fundamental metrics such as the number of unique DeFi wallet users witnessed some growth. According to on-chain data from Dune analytics, new unique DeFi wallets have floated around a monthly average of 500k. Also the accumulated DeFi wallet use sits at over 6.6 Million at the close of 2022, up from 4.7 Million in January of 2022.
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Ulrik Lykke

Ulrik Lykke

@ulriklykke

Author of the Bitcoin Global Macro, a newsletter focusing on digital assets, macro insights & investment ideas.

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This story contains new, firsthand information uncovered by the writer.

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Ulrik Lykke HackerNoon profile picture
Ulrik Lykke@ulriklykke
Author of the Bitcoin Global Macro, a newsletter focusing on digital assets, macro insights & investment ideas.

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