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The Number of DeFi Users on the Ethereum (ETH) Network Reaches 3 Million


According to statistics from on-chain data provider Dune Analytics, the number of users on DeFi protocols on the Ethereum (ETH) Network has exceeded three million.

According to statistics from on-chain data provider Dune Analytics, the number of users on DeFi protocols on the Ethereum (ETH) Network has exceeded three million.

Richard Chen, partner of 1Confirmation, a crypto VC fund with $75 million in assets under his management, revealed data from Dune Analytics.

According to Chen, the number of Ethereum (ETH) addresses held in DeFi protocols has exceeded the three million threshold for the first time.

This metric may not reflect an exact number of active DeFi enthusiasts, as a person often uses more than one Ethereum (ETH) wallet for transactions .

Uniswap (UNI) users make up a large part of the 3 million number with 2.35 million users. Compound Finance (COMP) users ranked 325,000, while 1Inch Protocol (1INCH) ranked third with 260,000.

SushiSwap (SUSHI) and Balancer Protocol (BAL) were other DEXs in the top five.

Matt Casto, an analyst at crypto-focused company CMT Digital, said that DeFi adoption is growing rapidly.

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