24 Brand New DeFi Statistics (2021)

by Josh Howarth - September 30, 2021

This article is a list of 24+ brand-new decentralized finance (DeFi) statistics for 2021.

DeFi interest has exploded over the last 24 months.

But just how big is the DeFi space? And which cryptocurrencies and exchanges are growing the fastest?

We’ll answer all of these questions (and more) in this up-to-date list of DeFi stats.

Click for a specific section:

Contents

DeFi Growth Stats

The total value locked in decentralized finance has increased by almost 100x since February 2021 (DeFi Pulse)

Investment in cryptocurrency has exploded in recent months.

As of February 2020, an estimated $1.01 billion of value was locked in decentralized finance.

By February 2021, this figure had risen sharply to $38.2 billion. And by September 2021, $98.3 billion of value was locked in decentralized finance.

Global blockchain spending has increased 7x in four years (IDC)

Global blockchain spending surpassed $1 billion in 2018 - up to $0.55 billion from $0.95 billion in 2017.

The following year, global blockchain spending nearly doubled from $1.5 billion to $2.7 billion.

This year, global blockchain spending totals an estimated $6.6 billion. And is projected to almost triple to $19 billion by 2024.

The blockchain technology market is expected to grow to nearly $40 billion by 2025 (MarketsandMarkets)

The blockchain technology market is growing at an accelerated rate.

Between 2018 and 2020, the market almost tripled from $1.2 billion to $3 billion.

This figure has near-enough doubled year-over-year. And is expected to reach $39.7 billion in 2025.

blockchain-technology-market-value-mi...

Here is a full breakdown of the worldwide blockchain technology market value each year since 2018:

Year Blockchain market value
2018 $1.2 billion
2019 $2.2 billion
2020 $3 billion
2021 $7 billion
2022 $12.7 billion
2023 $23.3 billion
2025 $39.7 billion

There are over 5,800 different cryptocurrencies (investing.com)

As of August 2021, there are 5,840 different cryptocurrencies available for trade.

This number represents a small drop from July 2021’s total of 6,044.

However, there has been a general upwards trend in the number of cryptocurrencies with approximately 25% fewer existing in February 2021. And under 3,000 existing in November 2019.

The number of cryptocurrencies only surpassed the 1,000-mark in 2017. And less than a decade ago, in 2013, there were just 66 cryptocurrencies.

There are over 75 million Blockchain wallet users worldwide (Blockchain)

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This year has seen accelerated growth in Blockchain wallet users around the globe.

At the start of January 2020, there were approximately 45 million Blockchain wallet users worldwide. This figure increased by around 30 million in 18 months.

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Here’s a full breakdown of major milestones for Blockchain wallet users worldwide:

Milestone (Blockchain wallet users) Achieved (Month, Year)
1 million January 2014
5 million December 2015
10 million December 2016
20 million December 2017
30 million November 2018
40 million June 2019
50 million June 2020
60 million November 2020
70 million March 2021

Cryptocurrency theft has almost halved in two years (ciphertrace)

In 2018, cryptocurrency theft totaled $950 million.

This figure fell to $513 million in 2020 despite a huge increase in DeFi investment across the globe.

Overall, the average value of stolen cryptocurrency was approximately 160% higher in 2019 than it was in 2020.

DeFi Market Statistics

Bitcoin is the world’s most valuable cryptocurrency (CoinMarketCap)

As of August 18, 2021, a single Bitcoin (BTC) was worth $45,240.26.

Second and third on the most valuable cryptocurrencies list are two Bitcoin-associated cryptos. Wrapped Bitcoin (WBTC) was worth $45,165.35. And Bitcoin BEP2 (BTCB) was worth $45,072.30.

Yearn.finance (YFI) ranks fourth on the list with a valuation of over $38,000.

Only a further two cryptocurrencies are worth over $1,000 - Maker (MKR), worth $3,504.60, and Ethereum (ETH) worth $3,057.76.

In total, five of the top nine cryptocurrencies by valuation are Bitcoin variants.

The most popular cryptocurrency by 24-hour trade value is worth over $90 billion (CoinMarketCap)

According to data from September 14, 2021, Tether (USDT) has a 24-hour trade value of $91.97 billion. This is more than 2x the value of any other cryptocurrency.

The second-most valuable cryptocurrency by 24-hour trade volume is Bitcoin at approximately $42 billion. Followed by Ethereum at just over $22 billion.

No other cryptocurrencies posted a 24-hour trade volume of over $10 billion. But a further five have a value of over $5 billion.

The overall cryptocurrency market cap peaked at approximately $1.8 quadrillion (CoinMarketCap)

The overall cryptocurrency market cap has experienced huge growth over the last five years.

In January 2017, the overall estimated cryptocurrency market cap sat at under $20 trillion.

By January 2018, this figure peaked at over $550 trillion after a surge. It took until January 2021 to surpass this figure.

Since then, the growth has been seismic, surpassing a $1 quadrillion market cap in February and peaking at $1.78 quadrillion in May 2021.

Bitcoin’s market share is over 2x Ethereum’s (CoinMarketCap)

Bitcoin’s market share has risen year-over-year between 2018 and 2020. Last year, Bitcoin had a 66% market share based on market cap.

As of September 2021, Bitcoin’s market cap stands at over $790 billion - more than 2x that of Ethereum ($344 billion).

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The gap to the next-largest market cap is so large that the rest of the top nine crypto market caps do not add up to Ethereum’s current figure.

Here is a breakdown of the top 20 coins by market cap (to the nearest billion):

Rank Coin Market Cap (Sept 2021)
#1 Bitcoin $791 billion
#2 Ethereum $344 billion
#3 Tether $69 billion
#4 Cardano $68 billion
#5 Binance Coin $57 billion
#6 XRP $43 billion
#7 Solana $40 billion
#8 USD Coin $31 billion
#9 Polkadot $27 billion
#10 Dogecoin $26 billion
#11 Uniswap $15 billion
#12 Avalanche $15 billion
#13 Terra $14 billion
#14 Binanca USD $14 billion
#15 Chainlink $11 billion
#16 Algorand $10 billion
#17 Litecoin $10 billion
#18 Bitcoin Cash $9 billion
#19 Wrapped Bitcoin $8 billion
#20 Cosmos $8 billion

Six different cryptocurrencies process over 100,000 transactions each day (Coin Metrics)

Data from September 2021 shows that Stellar (XLM) is currently the most traded cryptocurrency with over 7.5 million trades per day at its peak.

Ethereum (ETH) and Ripple (XRP) are each involved in over 1 million trades per day.

Bitcoin (BTC) and Polkadot (DOT) are each involved in over 200,000 trades per day. Litecoin (LTC) is involved in over 100,000 trades per day.

Bitcoin (BTC) Stats

Almost half of all Bitcoin is mined in China (Cambridge Centre for Alternative Finance)

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Global Bitcoin mining is becoming more diversified.

In September 2019, China mined over 75% of Bitcoin. That figure dropped to 46% in April 2021.

The United States is responsible for almost 17% of Bitcoin mining. While Kazakhstan mines just over 8% of all Bitcoin.

The rest of the top nine Bitcoin-mining nations are Russia, Iran, Malaysia, Canada, Germany, and Ireland - each with between 7-2%.

Bitcoin value peaked at almost $65,000 in 2021 (CoinDesk)

The value of Bitcoin has risen sharply over the last couple of years.

Back in 2016, the price of Bitcoin peaked at under $1,000.

This figure grew by around 14x to over $13,000 in December 2017. And after some fluctuation, returned a similar value in October 2020.

Within six months, Bitcoin’s value soared to over $58,000. And is currently worth approximately $45,000.

Bitcoin’s market cap peaked at over $1.1 trillion (CoinMarketCap)

Bitcoin’s market cap has grown rapidly since mid-2020.

In June 2020, Bitcoin’s market cap was $162.32 billion. This increased by almost 7x to $1.1 trillion in just nine months.

Bitcoin’s market cap in September 2021 stands at just over $845 billion.

The US trades more than 3x more Bitcoin than any other country (Statista)

Last year, the US traded over $1.5 billion worth of Bitcoin. No other country surpassed the $500 million mark.

Russia saw the second-most Bitcoin trades in 2020 with over $420 million worth. Nigeria followed closely behind with just over $400 million worth of Bitcoin trades.

China ($198 million) and the UK ($193 million) make up the rest of the top five nations.

Ethereum (ETH) Stats

Ethereum’s price has increased around 23x in two years (CoinDesk)

In September 2019, Etherum was worth $171.01. This steadily grew to $383.68 in October 2020, before increasing by over $2,300 in six months.

Ethereum’s highest value to date was recorded on September 7, 2021, at $3,941.12.

Over 1.3 million Ethereum transactions are completed per day (BitInfoCharts)

Ethereum’s popularity has exploded over the last five years.

In January 2017, approximately 44,000 Ethereum transactions were completed. By December 2017, this had increased to almost 947,000.

This figure fluctuated and wasn’t surpassed until June 2020. But has since peaked at over 1.3 million in May 2021.

Ethereum’s market cap grew over 7x at the start of 2021 (CoinMarketCap)

In October 2020, Ethereum’s market cap was estimated at $43.78 million.

In six months, this grew to $320.82 million. And has steadily grown since peaking at $389.01 million in August 2021.

Other Major DeFi Currency Stats

Litecoin’s peak value was over $250 this year (CoinDesk)

Litecoin’s value has fluctuated hugely over the last half-decade.

In February 2017, Litecoin was worth an estimated $3.88. By December 2017, this figure had leaped to $237.57.

However, by December of the following year, Litecoin’s value had plummeted to $31.32.

Similar peaks and troughs have occurred in the following years. In August 2021, Litecoin was estimated to be worth just over $180.

Dogecoin grew at a faster rate than Bitcoin in early 2021 (CoinGecko)

Between February 2019 and December 2020, Dogecoin experienced very little change in value.

However, by April 2021, Dogecoin’s value increased over 60x, partially fuelled by Tesla CEO Elon Musk’s comments on Twitter.

Ripple’s 2017 peak value is yet to be surpassed (CoinGecko)

Ripple’s value rose from $0.05 in April 2017 to $2.28 in December of the same year.

This value dropped by over 4x over the course of the next three months. And hasn’t reached those same heights since.

Ripple’s peak value in 2021 came in April at $1.40.

Cardano’s value shot up by around 4x at the start of this year (CoinGecko)

In December 2020, Cardano’s value sat at $0.18. This more than doubled to $0.37 the following month. And increased to $1.35 a month later.

This value has remained steady throughout 2021, peaking at $1.58 in May.

Cryptocurrency Exchange Statistics

Binance has over 3x more trading volume per day than any other cryptocurrency exchange platform (CoinMarketCap)

Binance is the biggest cryptocurrency exchange platform by daily trade volume with $29.65 worth of trades taking place on September 14, 2021.

OKEx, LocalTrade, Upbit, and Huobi Global make up the rest of the top five crypto exchanges with between $7.4 billion and $8.6 billion worth of trades in one day.

In total, 42 different crypto exchange platforms saw $1 billion+ worth of trades on September 14, 2021.

Coinbase users have almost doubled in three years (US Securities and Exchange Commission)

Cryptocurrency trading platform Coinbase had a user base of approximately 23 million in Q1 2018. This figure has grown steadily quarter-over-quarter since then.

Coinbase surpassed 30 million users in Q3 2019. And surpassed 40 million users in Q4 2020.

The Coinbase user base grew by a three-year high of approximately 4 million between Q3 2020 and Q4 2020.

Conclusion

That’s it for our DeFi statistics.

The data suggests that DeFi is here to stay. And attitudes towards cryptocurrency are changing as more people choose to invest.

Words like “Bitcoin”, “Blockchain”, and “crypto” have become common parlance and that is unlikely to change. The prevalence of DeFi is only likely to grow in the near future.

Written By
Josh Howarth
Co-founder of Exploding Topics.
548 Market St. Suite 95149
San Francisco, California
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