While many decentralized finance tokens suffered heavy losses last month, prompting hastily written obituaries about the DeFi “bubble,” metrics measuring user activity saw sustained, sector-wide growth.
According to crypto market data aggregator Dune Analytics, the total number of unique DeFi user addresses is around 860,000, an increase of roughly 10 times over the past year. However, that figure is cumulative, and users might have more than one address.