Decentralized Finance (DeFi) Recorded Highest Exponential Growth in Assets to Date in May 2020, Latest Stats Show

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The Decentralized Finance marketplace, commonly referred to as DeFi, hit a new all-time in May 2020 in both total users and the total amount in locked assets.

The latest statistics show the exponential growth of DeFi assets by almost 10-fold compared to same time last year in May 2019.

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Below are latest stats as of May 2020:

  • DeFi Market Cap – $2. 45B
  • New assets pass 1, 000 for the first time
  • Uniswap Protocol accounts for approximately 75% of all assets
  • DeFi users hit 193, 000 with majority coming from Kyber Network and Uniswap Protocol
  • DeFi market cap has doubled to $2 billion in just two months

The DeFi space may not be as popular to many as the general Bitcoin and cryptocurrency marketplace. However, its exponential growth cannot be ignored or under-estimated.

According to Evgeny Yurtaev, Founder of Zerion, a DeFi project:

“DeFi is the new FinTech. It all comes down to the cost of distribution. [The] Internet brought it close to zero for the content. However, it did not happen in finance.”

In order to help more Africans understand this interesting and evolving world of DeFi, BitKE has organized a free online discussion with one of the leading minds in DeFi in Kenya, Eugene Mutai.

The class is sponsored by Paxful, the largest P2P Bitcoin marketplace in Africa.

 

DETAILS:

DATE: June 13th, 2020

TIME: 2-3.00 pm, EAT

SIGNUP LINK: bit.ly/BitKECatapult-9

NB: The class will also be streamed live on BitKE Facebook page here: https://bit.ly/DeFi-LiveStream

 

 

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