Increasing the share of cryptocurrencies in the global money supply with the growth of Defi
DeFi growth helps push the cryptocurrency’s share of the global money supply above 2%.
This year decentralized finance (DeFi) has proven to be a transformative sector for the cryptocurrency ecosystem.
While the price action from Dogecoin (DOGE) has dominated the headlines in recent weeks, Delphi Digital has been chronicling the growth of the DeFi ecosystem on the Ethereum (ETH) network which has steadily been gaining strength over the past month.
According to Delphi Digital researchers, while the majority of growth occurred on Ethereum-based DeFi platforms, protocols across the top ecosystems including Ethereum, BSC, Solana (SOL), Avalanche (AVAX), Polygon (MATIC) and Terra (LUNA) have begun to gain traction.
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