DeFi yield farming statistics have been one of the most talked-about trends in 2024. From very high returns to the latest trends, there's so much happening in this space. For instance, the average revenue per user in the DeFi market amounts to US$1,378.0 in 2024.
But with all the euphoria, it's hard to separate fact from fiction. Here's the thing: DeFi yield farming can be seriously lucrative, but it also has its risks. This is where knowing the latest stats and what they mean for you, comes in.
Key DeFi Yield Farming Statistics in 2024
- Total Value Locked (TVL) in DeFi: Over $190 Billion
- Ethereum dominates the DeFi space, with a 71% increase in its TVL.
- Liquid staking protocols reach an all-time high of $63 billion in Q1 2024.
- User activity in DeFi increased by 291% quarter-on-quarter.
- DeFi Average Revenue per User reaches over $1,300
Total Value Locked (TVL) in DeFi: Over $190 Billion
In 2024, the TVL in DeFi hit over $190 billion, a significant increase from its 2023 records. DeFi’s total value locked (TVL) mostly staggered sideways in 2023, barely reaching $53 billion.
This surge demonstrates the growing confidence and participation in DeFi platforms by both retail and institutional investors. However, it's important to remember that a high TVL doesn't guarantee high returns for every protocol. Do your research before committing funds.
Ethereum's Dominance in DeFi TVL
Ethereum, with TVL, pegged at $64.5 billion, continues to dominate the DeFi space. This dominance is largely attributed to its liquid staking protocols, with Lido holding a 62% market share in liquid staking.
Ethereum's strong performance signals its critical role in the DeFi ecosystem, providing adequate infrastructure and security for DeFi applications.
Rise of Liquid Staking
Liquid staking protocols saw unprecedented growth, with TVL reaching an all-time high of $63 billion in March 2024. This is a massive increase from the $919 million Liquid staking protocols TVL recorded in August 2023.
Experts had predicted this upward movement when the TVL hit $3.5 billion in February 2024.
Liquid staking allows stalkers to earn additional yields by restaking their assets, making it an attractive option for maximizing returns.
Growth in User Activity
User activity in DeFi increased by 291% quarter-on-quarter. This surge in activity reflects heightened interest and participation in DeFi platforms, potentially leading to what some are calling a second "DeFi Summer."
DeFi Average Revenue per User reaches over $1,300
The average revenue per user in the DeFi market amounts to $1,378.0 in 2024. From a global comparison perspective, it is shown that the highest revenue is reached in the United States, with over $12 million in revenue generated in 2024.
Revenue in the DeFi market is projected to reach $26 million by the end of 2024.
General DeFi Yield Farming Statistics in 2024
As earlier mentioned, DeFi yield farming statistics have been one of the most talked-about trends in 2024. Below are some of the general Defi yield farming statistics for 2024.
Top 5 DeFi Protocols by TVL
- Lido Finance: $36.21 Billion
- EigenLayer: $19.23 Billion
- Aave: $12.84 Billion
- Arbitrum Bridge: $11.92 Billion
- MakerDAO: $6.48 Billion
Geographic Distribution
- North America: 35%
- Europe: 30%
- Asia: 25%
- Other regions: 10%
North America and Europe dominate the DeFi user base, with significant contributions from Asia.
Age Distribution
- 18-24: 15%
- 25-34: 40%
- 35-44: 30%
- 45-54: 10%
- 55+: 5%
The majority of DeFi users fall within the 25-44 age range, indicating that younger to middle-aged adults are more inclined towards using DeFi platforms.
Gender Distribution
- Male: 70%
- Female: 30%
Men are currently more dominant in the DeFi space, but the increasing participation of women suggests growing inclusivity.
Education Level
- High school: 20%
- Undergraduate degree: 50%
- Postgraduate degree: 30%
A significant portion of DeFi users have undergraduate or postgraduate degrees.
Conclusion
2024 has turned out to be the year we have witnessed massive growth in DeFi yield farming. With significant increases in total value locked and user activity, the DeFi sector is expanding more than ever.
By the end of 2024, the total value locked in Defi could hit $200 billion, capping a very remarkable year for the market.
This is why before investing, it is very important to consider the top performing Defi protocols by TVL, and stay informed about the trends and demographics. That way, opportunities can be maximized in this market.
As always, thorough research before investment remains key to gaining from the promising world of DeFi yield farming.
Frequently Asked Questions
What was the total value locked (TVL) in DeFi for Q1 2024?
The total value locked (TVL) in DeFi for Q1 2024 reached a staggering $100 billion, reflecting a major surge in investor confidence and participation. This indicates a healthy DeFi ecosystem with ample liquidity.
What was the average yield farming return in Q1 2024?
The average yield farming return across major DeFi protocols in Q1 2024 increased by 8.5%. This is significantly higher than traditional savings accounts, making yield farming an attractive investment strategy.
Which age group represents the majority of DeFi users?
The majority of DeFi users fall within the 25-34 age range, indicating a higher adoption rate among younger to middle-aged adults. This demographic insight can be valuable for educational content and marketing efforts.
