While many decentralized finance (DeFi) 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. Note: that’s a cumulative figure and users might have more than one address.
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