DeFi Week in Review: DEX Address Count Hits 53-Day Low, Lending Platform Liquidation Hits New Yearly Low

145 DeFi concept coins down over 12% on average in the last 7 days

Last week, DeFi’s total single-day lock volume hit an intra-month low, while the average daily DEX trading volume and average daily address count both decreased by over 4%. Lending platform liquidation volume hit a midweek low of $20,400,000 for the year. 145 DeFi concept coins fell by an average of more than 12% in the last 7 days.

DeFi total lock volume stabilizes, total address count grows steadily
According to DeBank, DeFi total lock volume stabilized last week. On June 19, the single-day total lock-up volume was about $79.389 billion, the lowest in the month.

As of midday on June 21, the top five DeFi protocols in terms of total 24-hour lockup volume were PancakeSwap ($9.4 billion), Curve ($8.1 billion), Aave V2 ($7.5 billion), Compound ($7.2 billion) and MakerDAO ($6 billion). Among them, PancakeSwap showed an upward trend in lock volume last week, with a 7-day increase of about 23.61%, while the total lock volume of the remaining four protocols showed a downward trend last week.

According to DuneAnalytics, as of June 21 midday, the total number of DeFi addresses accumulated to about 2,841,200, with a 7-day increase of about 2.42%, and the ringgit growth rate remained basically stable.

DEX trading volume drops for four consecutive weeks, DEX address count hits 53-day low
Last week, the average daily DEX trading volume was about $3.380 billion, down about 4.15% week-over-week. According to PAData’s weekly observations, average daily DEX trading volume has fallen for four consecutive weeks, as activity on the decentralized exchange continues to decline.

As of midday on June 21, the five decentralized exchanges with the largest share of total 24-hour trading volume were Uniswap V3 (20.50%), Mdex (16.46%), PancakeSwap (11.80%), Uniswap V2 (9.94%), and SushiSwap (6.83%). Among them, Uniswap V3 remains in first place, with a share increase of about 5 percentage points compared to last week; Mdex is in second place, advancing one position compared to last week; SushiSwap jumps to fifth place; the remaining two rankings remain unchanged.

In terms of the number of DEX addresses, last week, the average daily number of addresses was about 318,700, down about 4.21% week-on-week. on June 18, the number of DEX addresses was only 269,300, the lowest since May.

Total lending volume remained stable, clearing volume hit a yearly low
Last week, total daily lending averaged about $17.315 billion, up only about 0.11% week-over-week and largely unchanged from the previous week.

As of noon on June 21, three lending platforms, Aave V2, Compound, and MakerDAO, still led the 24-hour total lending ranking, and their lending shares were about 32.30%, 31.00% and 27.53% respectively, and their shares also remained basically stable. Since the “519” Venus suffered a large amount of liquidation to withdraw from the competition, the lending market three-legged situation has continued for more than a month.

Last week, the average daily clearing volume of lending platforms was about $1,175,800, down 18.33% week-on-week, and on June 16, the average daily clearing volume was only about $20,400, hitting a new low for the year. As of midday on June 21, the three platforms with the highest 24-hour liquidation volumes were Maker, Compound and Aave V2, with approximately $1,774,100, $1,090,400 and $645,800 respectively.

MakerDAO’s cumulative total revenue dominates, DeFi concept coin down over 12% on average in 7 days
According to token terminal’s statistics, as of June 21 midday, the cumulative total revenue of all DApp protocols is about $360 million, among which, MakerDAO’s total revenue has surpassed MetaMask to take the first place, with a revenue share of about 19.92%. The top three Dapp protocols in terms of total revenue in the last 7 days are MakerDAO, MetaMask and SushiSwap, which are unchanged from last week’s ranking. 7-day cumulative revenue is about $2,287,300, $1,289,600 and $1,094,200 respectively. Among them, MetaMask grew over 12% from a week ago, while the remaining two DApps’ 7-day cumulative revenue was slightly changed from a week ago.

According to Messari’s data, as of midday June 21, the average 7-day decline of the 145 DeFi concept coins was about 12.32% in the last 7 days, contrary to last week’s situation, which saw an average gain of 6.28%. Among them, COT had the highest 7-day gain of about 68.09%; ZKS came second with a 7-day gain of about 31.12%. Mainstream concept coins such as YFI, MKR, AAVE, UNI, etc. all fell above the average, about -12.47%, -19.52%, -17.70% and -17.52% respectively.

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