DeFi Week in Review: Solid Growth in Total Locks and Total Addresses, DEX Trading Volume Down Over 48%

The average daily clearing volume of lending agreements decreased by approximately 50.75% week-over-week.

DeFi Week in Review: Solid Growth in Total Locks and Total Addresses, DEX Trading Volume Down Over 48%

Total DeFi lock volume and total address count grew solidly last week. average daily trading volume on DEX decreased by ~48.20% week-over-week and average daily clearing volume on debit agreements decreased by ~50.75% week-over-week. 141 DeFi concept coin prices stabilized overall.

According to DeBank’s data, DeFi’s total lock volume continued to show a steady growth trend, with the average total lock volume last week being approximately $86.051 billion, up approximately 8.70% week-over-week, with the highest single-day total lock volume exceeding $90 billion.

As of midday on June 7, the top five DeFi agreements in terms of total lock-up volume were Aave V2 ($8.9 billion), Compound ($8.6 billion), PancakeSwap ($8 billion), Maker ($7.7 billion) and Curve ($7.3 billion). All five protocols saw varying degrees of growth in total lock volume compared to last week, with Curve seeing the best increase in total lock volume with a 7-day increase of nearly 40%, PancakeSwap and Aave V2 with 7-day increases of about 17.97% and 11.19% respectively, and the rest with increases of less than 10%. Uniswap V2, which ranked fifth last week, was up only about 3% and has been replaced by Curve.

According to DuneAnalytics, on June 6, the total number of DeFi addresses accumulated to about 2.770 million, with an increase of about 3.16% on the 7th day, and the growth rate remained basically stable compared to the previous week.

DEX transaction volume down over 48%, user base up 10.55%
Last week, the average daily trading volume of DEX was about $4.221 billion, a weekly decrease of about 48.20% from the previous week. Even after excluding the impact of outliers, the decline in trading volume was still significant. After removing the outliers from the previous week, last week’s DEX average daily trading volume still decreased by about 24.46% week-over-week.

As of midday on June 7, the five decentralized exchanges with the largest 24-hour trading volume share of total volume were Mdex (22.26%), PancakeSwap (18.02%), Uniswap V3 (13.69%), Uniswap V2 (11.67%), and Curve (6.27%). Among them, Mdex reigned first in terms of trading volume, but its share dropped by about 6 percentage points compared to 7 days ago, while the gap between the shares of the first and second DEX narrowed compared to last week. SushiSwap, which ranked fifth last week, now ranks eighth in terms of trading volume.

Last week, the daily average number of DEX addresses was about 379,800, a week-on-week increase of about 10.55%, which was a rebound from the previous week. on June 3, the number of DEX addresses was about 410,200, which was the highest value in two weeks.

Total lending up 7.27%, liquidation halved again
Last week, the average daily total lending volume of lending agreements was about $17.176 billion, up about 7.27% week-over-week, a slight “uptick” from the previous week. As of 13:00 on June 7, three lending platforms, Aave V2, Compound, and Maker, still led the 24-hour total lending chart, with shares of 32.25%, 30.76% and 27.32% respectively. The rankings remained unchanged from the previous week, and their shares remained largely stable. The lending market may temporarily form a situation where three companies are dominant.
Affected by the broad sideways adjustment, the lending platform clearing volume was halved again last week. The average daily clearing volume of all agreements was about $559,500, down about 50.75% week-over-week. the clearing volume on June 6 was only about $40.1 million, the lowest single day in the past month.

As of noon on June 7, the mortgage lending platform with the highest liquidation volume was Cream, with 24-hour liquidation volume of about $11,700, accounting for about 59.39% of the total liquidation volume; protocols with high liquidation volume last week, such as Compound and Aave V2, had their respective 24-hour liquidation volumes of only $1,414 and $252, which were significantly lower than their respective liquidation volumes a week ago.

MetaMask 7-Day Revenue Exceeds $4 Million, 141 DeFi Concept Coins Stabilize Overall
According to token terminal’s statistics, as of noon on June 7, the cumulative total revenue of all Dapp protocols was about $301 million, of which MetaMask’s revenue accounted for about 24.95%. The three Dapp protocols with the highest total revenue in the last 7 days were MetaMask, MakerDAO and SushiSwap, with cumulative revenue of about $4,079,200, $2,357,500 and $1,267,600 respectively in 7 days.

According to Messari’s data, as of 14:00 on June 7, the average decline of 141 DeFi concept coins over the last 7 days was about 0.33%, which remained largely unchanged from the previous week. Among them, the highest gainer is MLN, a decentralized asset management protocol Enzyme Finance, with a 7-day gain of about 99.55% and currently quoted at about $166.41; FNX is the next highest gainer at about 97.62%. Mainstream concept coins such as YFI, UNI and AAVE have continued to fall, with 7-day declines of about 7.19%, 6.46% and 1.91%, respectively.

Posted by:CoinYuppie,Reprinted with attribution to:
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