ETH: DeFi Daily Active Addresses
Shown as its 2019–2022 sample; the latest readings and full history are included with Plus.
The addresses that used the main DeFi protocols on Ethereum each day: lending markets, decentralised exchanges and Lido, each address counted once across all of them.
Why use it. Daily active addresses are the broadest measure of how many participants DeFi has, whatever their size: it rises in bull markets and when new applications arrive, and it moves differently from prices and deposits. How to read it. The top line counts every address once across the covered protocols; the lower lines are the sectors on their own. An address active in two sectors counts once in the top line and once in each sector.
Calculation. An active address of a protocol is an address that signs a transaction in which one of the protocol's contracts records an event, read on CryptoKeyhole's own Ethereum node: for Aave (v2 and v3 on Ethereum), Spark, Compound v3 and Morpho Blue any event of their lending pools; for Uniswap (v2, v3 and v4) and SushiSwap v2 a Swap in one of their pools (an address that only adds or removes liquidity is not counted); for Lido its staking and withdrawal events. A transaction sent through a router or an aggregator counts for whoever signed it, a smart-contract wallet counts its signer rather than the wallet, and bots and automated strategies count like any other sender (since EIP-7702 one account can act for many, and one person can use many addresses): these are active addresses, not people. Each address counts once per protocol on a day and once per protocol in a 30-day window, however many transactions it signs. History: read once from the node's frozen log indexes and transaction files, the newest blocks from its logs each hour; Ethereum mainnet only, each protocol's other networks are not counted; first-time addresses are first-time within this history (Uniswap from its v2 launch in May 2020, Aave from its v2 launch, Compound from v3, Morpho from Morpho Blue). Daily, by UTC day; the latest day is a partial until it closes.