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26 November 2020

CoinGecko Report Unearths 4 Key Insights in DeFi Sector

CoinGecko Report Unearths 4 Key Insights in DeFi Sector

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To no one’s surprise, the survey was successful in unearthing several key insights that can help our readers develop a better understanding of the DeFi space.

Coingecko’s survey came up with four key findings that can help shed more light on the infrastructure, behavioral trends, and the finer nuances of the DeFi space.

According to the survey, currently, the majority of the DeFi users are male with more than 50% of them in the 20-40 years old age bracket.

Unsurprisingly, the survey found that respondents who are familiar with DeFi are more comfortable going completely bankless.

Now that we’ve summarised the four key findings as discovered via the CoinGecko survey, it’s time to explore each of it in more detail.

In their survey, CoinGecko found that a healthy 619 out of 694 respondents had heard of DeFi.

Notably, out of these 619 respondents, the survey found that only about 9% of them were women, a fact testimony to the significant gender gap in the DeFi community.

The report by CoinGecko opines that by making the space more appealing to the women, the adoption of DeFi could be propelled significantly.

By further breaking down the data by age, the survey found that close to 68% of the 619 respondents comprised of millennials who were aged between 20-39 years.

The survey found that users who have heard of DeFi are more likely to own stablecoins.

That said, it’s also worth highlighting that the ranks between these measures differ with the noted exception of Tether which holds the distinction of not only being the largest stablecoin by market capitalization but also being the most owned among CoinGecko’s survey respondents.

Despite this uncertain position, it was found that users who are well aware of the nitty-gritty of the DeFi sector were more willing to permanently do away with the traditional banking system.

The data collected by CoinGecko stay in-line with the data compiled by the Edelman’s Trust Barometer Survey that highlighted financial services as the least trusted sector in 2019.

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