Defi dominance has skyrocketed in 2021, with recent reports displaying a Total value locked in DeFi hitting an all-time high at $210.5 billion today, according to Defi Llama charts. This is exceptional growth, especially when compared to last year’s October 8 records displaying just $8.61 Billion Total Value Locked in Defi.
Image Source: Defi Llama
India leads the Defi growth chart
The latest virtual currency adoption report by blockchain-based analysis firm, Chainalysis also stated this surge of the Defi market in merely one year. The report noted that the Central and Southern Asia and Oceania (CSAO) region has seen the most cryptocurrency usage with Vietnam, India, and Pakistan topping the charts, according to the Global Crypto Adoption Index.
Image Source: Chainalysis
Furthermore, it elaborated that Defi activity has leaped through, as a share of all transaction volume dedicated to Defi activity hiked, beginning from May 2020, and further-reaching above 50% by February. This act
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