DeFi Lockup Volume Soars Past $83.3 Billion in First Quarter of 2023: A Look at the Latest Report from Dapprader
According to reports, according to Dapprader\’s latest DeFi report, in the first quarter of 2023, the DeFi lockup volume reached $83.3 billion, a 37% month-on-month increase. Among
According to reports, according to Dapprader’s latest DeFi report, in the first quarter of 2023, the DeFi lockup volume reached $83.3 billion, a 37% month-on-month increase. Among them, the Arbitrum chain lockup volume increased by 118%, reaching $3.2 billion at the end of this quarter, while GMX accounted for more than 80% of the Arbitrum chain lockup volume. Airborne drops of Arbitrum tokens have pushed the number of transactions on the blockchain to a record 2.7 million, surpassing Ethereum and Optimism. In addition, the average daily active wallet volume of Arbitrum increased by 125%, and BNB Chain had approximately 440000 daily active wallets this quarter, a decrease of 28% compared to the previous quarter.
Data: In Q1 2023, the lockup volume of DeFi reached US $83.3 billion, with a year-on-year increase of 37%
The latest report from Dapprader has revealed that in the first quarter of 2023, the DeFi lockup volume reached a staggering $83.3 billion, marking a 37% month-on-month increase. In this article, we’ll take a closer look at the highlights of the report, including the significant increase in lockup volume on the Arbitrum chain, the most dominant player in the ecosystem, and the spike in the number of transactions on the blockchain.
Arbitrum Chain Takes Center Stage
Among the various chains on the DeFi ecosystem, the Arbitrum chain emerged as the clear winner in the first quarter of 2023. The lockup volume on this chain saw a staggering 118% increase, reaching $3.2 billion by the end of the quarter. It is worth noting that GMX accounted for more than 80% of the Arbitrum chain lockup volume.
The rise in lockup volume on the Arbitrum chain can be attributed to multiple factors, including the recent airborne drops of Arbitrum tokens, which have incentivized users to hold and stake on the chain. As a result, the number of transactions on the blockchain has skyrocketed, surpassing Ethereum and Optimism, reaching a record high of 2.7 million.
Increased Daily Wallet Volume
Another interesting finding from the report is the increase in daily active wallet volume on various chains. The average daily active wallet volume of Arbitrum increased by an impressive 125%. On the other hand, BNB Chain had approximately 440000 daily active wallets, but this number saw a decrease of 28% compared to the previous quarter.
Conclusion
In conclusion, the DeFi ecosystem is continuing to grow, and the latest report from Dapprader is a testament to that. The Arbitrum chain’s dominance, coupled with the increase in transaction volume and daily wallet usage, paints a picture of a thriving ecosystem, poised for more growth in the coming months.
Frequently Asked Questions
1. What factors contributed to the rise in lockup volume on the Arbitrum chain?
Multiple factors contributed to the rise in lockup volume on the Arbitrum chain, including the recent airborne drops of Arbitrum tokens, which incentivized users to hold and stake on the chain.
2. How does the number of transactions on the Arbitrum chain compare to other chains in the DeFi ecosystem?
The number of transactions on the Arbitrum chain surpassed Ethereum and Optimism, reaching a record high of 2.7 million in the first quarter of 2023.
3. Which chain had the most significant decrease in daily active wallet volume in the first quarter of 2023?
BNB Chain had approximately 440000 daily active wallets this quarter, a decrease of 28% compared to the previous quarter.
**Keywords:** DeFi lockup volume, Arbitrum chain, airborne drops, wallet volume, transaction volume.
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