Home Business NewsBusiness Global DeFi revenues to hit $16.9bn

Global DeFi revenues to hit $16.9bn

by LLB Editor
5th Jun 23 9:04 am

Although the 2022 crypto winter has been especially cold in decentralized finance (DeFi) land, the DeFi industry is set to skyrocket this year, with revenue reaching record highs.

According to data presented by BitcoinCasinos.com, global DeFi revenues are expected to jump by an impressive 226% year-over-year and hit $16.9bn in 2023.

The Number of DeFi Users Recovers to Pre-2022 Levels with 8.37M in 2023

DeFi activity has had a solid start to 2023, driven by a broader market recovery. With the trading volume and the number of users recovering to pre-2022 levels, the market projections for 2023 and the following years have become more optimistic.

According to Statista data, global DeFi revenue dropped to $5.2bn last year amid the crypto winter, down from $6.1bn reported in 2021. However, 2023 is set to witness a three-digit growth, with revenue surging by 226% year-over-year to $16.9bn. Statista expects the entire market to continue growing by a CAGR of 19.6% in the next four years, resulting in a total volume of $34.7bn by 2027.

The average revenue per user in the DeFi market was $2,026 in 2023. This value is set to jump over $3,700 in the next four years. According to a Statista survey, the entire market will also witness double-digit user growth.

In 2019, there were around 160,000 DeFi users. Two years later, this figure surged to 8.54 million worldwide. After a huge drop in 2022, and the number of users falling to 5.79 million, 2023 is set to witness considerable user growth in the DeFi space. Statista expects more than 2.5 million new users this year, pushing the total user count to 8.37 million. By 2027, this figure is expected to jump to over 9.3 million.

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