Active user wallets on Ethereum DeFi have dipped 40% in one month

According to DappRadar, the unique active wallet count on the decentralized finance market has seen a significant drop. Between mid-February and the time of writing, unique active DeFi wallets on Ethereum have dipped almost 40%.

While Ethereum gas fees seem to have bottomed out, the high transaction costs that have characterized the network over the past few weeks appear to have resulted in a marked effect on DeFi user statistics.

Source: DappRadar