DeFi Multi-chain Ecosystem Explodes, Ethereum's First-mover Advantage Significant

A year ago at this time, the DeFi ecosystem on Ethereum began to explode. According to DeBank data, the total net value locked in DeFi protocols on Ethereum surged from $848 million at that time (June 1, 2020) to the current $46.975 billion (June 9, 2021), equivalent to a 55-fold increase. This directly drove active on-chain transactions on Ethereum.