A list that compares the total value locked of different industries within decentralized finance (DeFi) reveals that insurance is not one of the largest segments. Indeed, blockchain protocols meant to provide monetary protection ranked as the 21st highest segment in DeFi, with decentralized exchanges (or Dexes) being over 60 times as large. Decentralized finance refers to financial services that are initiated on the blockchain and are operated by cryptocurrencies. It is an emerging market, however, as the overall DeFi market size is smaller than than the market size of all cryptocurrencies combined.
TVL (total value locked) in 26 different segments across multiple Decentralized Finance (DeFi) blockchains worldwide as of December 4, 2023
(in billion U.S. dollars)
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DefiLlama. (December 4, 2023). TVL (total value locked) in 26 different segments across multiple Decentralized Finance (DeFi) blockchains worldwide as of December 4, 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 21, 2024, from https://www.statista.com/statistics/1292970/defi-market-size-by-segment-usd/
DefiLlama. "TVL (total value locked) in 26 different segments across multiple Decentralized Finance (DeFi) blockchains worldwide as of December 4, 2023 (in billion U.S. dollars)." Chart. December 4, 2023. Statista. Accessed December 21, 2024. https://www.statista.com/statistics/1292970/defi-market-size-by-segment-usd/
DefiLlama. (2023). TVL (total value locked) in 26 different segments across multiple Decentralized Finance (DeFi) blockchains worldwide as of December 4, 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 21, 2024. https://www.statista.com/statistics/1292970/defi-market-size-by-segment-usd/
DefiLlama. "Tvl (Total Value Locked) in 26 Different Segments across Multiple Decentralized Finance (Defi) Blockchains Worldwide as of December 4, 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 4 Dec 2023, https://www.statista.com/statistics/1292970/defi-market-size-by-segment-usd/
DefiLlama, TVL (total value locked) in 26 different segments across multiple Decentralized Finance (DeFi) blockchains worldwide as of December 4, 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1292970/defi-market-size-by-segment-usd/ (last visited December 21, 2024)
TVL (total value locked) in 26 different segments across multiple Decentralized Finance (DeFi) blockchains worldwide as of December 4, 2023 (in billion U.S. dollars) [Graph], DefiLlama, December 4, 2023. [Online]. Available: https://www.statista.com/statistics/1292970/defi-market-size-by-segment-usd/
