06.12.2021

Russia took 15th place in the ranking of countries for the distribution of DeFi

Today they unveiled the DeFi Global Distribution Index, in a companion report to which they noted that DeFi has experienced significant progress over the past 18 months in both emerging and developed markets.

Most of the growth is taking place in high-income countries with a presence of professional traders and investors.

“The spread of DeFi is primarily supported by seasoned cryptocurrency traders and investors looking for new sources of advantage on innovative platforms,” ​​said Chainalysis.

The massive spread of decentralized finance remains a distant prospect, analysts at Chainalysis say.

Analysts also note that DeFi has already attracted large investors, but the interest of retail market participants remains to be worked out. The main problem they see is that the average DeFi application is designed for “advanced use cases” and therefore is not very focused on ordinary users.

Chainalysis also assessed the spread of DeFi across countries based on a similar methodology to the one recently used to assess the spread of cryptocurrencies in general. Developed markets such as the United Kingdom, the United States, the Netherlands and Canada remain leaders, followed by emerging markets including Vietnam, Thailand and India.

Russia ranks 15th on the list. In the rating for the distribution of cryptocurrencies as a whole, it was 18th. In both ratings, only Vietnam is in the top 5 at once.

From April 2019 to June 2020, North America remained the leader in terms of DeFi distribution. In Western Europe, growth has been observed since September 2019, with other regions joining them after June 2020, when the sector’s meteoric rise or the so-called “DeFi summer” began.

“DeFi is now targeting the insiders of the cryptocurrency industry,” said David Gogel, Development Manager for the dYdX decentralized derivatives protocol.

These are people who have been in the industry for some time and have enough funds to experiment with new assets. ”

He expects that with lower fees on the Ethereum network, decentralized finance will become more accessible to ordinary users in the future.

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