Latest statistics reveal that the decentralized space is booming and showing no signs of losing momentum.
As of this writing, decentralized exchanges (DEXs) monthly volumes have skyrocketed from just $39.5 million less than 2 years ago to $45.2 billion.
At the same time, locked assets in the DeFi space have skyrocketed from $326.6 million in January 2019 to over $27.5 billion at the end of January 2021.
SEE ALSO: [WATCH] UnPacking DeFi with Eugene Mutai, a Kenyan Blockchain Developer and Crypto Trader
Interestingly, the DeFi space has nearly doubled in locked assets in January 2021 alone.
Below is a quick breakdown of the decentralized space statistics as of January 31, 2021:
The massive growth of the DeFi space is seen in the UniSwap airdrop which saw $1, 200 UNI token giveaway per address on September 1, 2020.
That airdrop is now worth $6, 500 and has nearly doubled in price in the last 7 days, as of this writing, showing the remarkable growth in the DeFi space currently taking place.
With increasing liquidity supplied and volume traded on DEXs, on-chain fundamentals suggest increasing attention and growth of the space from the crypto market in the next few months.
NB: This post is part of the BitKE Markets Podcast – a daily Zoom call that provides a daily analysis of the crypto markets and best trading strategies across Africa
RECOMMENDED READING: [WATCH] The DeFi Revolution will Get its Customer Base from Africa, Says Cardano CEO
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