In the past year, we’ve seen the crypto economy undergo exponential expansion as heaps of money poured into various cryptocurrencies, decentralized finance (DeFi), nonfungible tokens (NFT), crypto indices, insurance products and decentralized options markets.

All chains have seen a rise in total value locked (TVL), from $18 billion at 2021 to $240 Billion in 2022. The crypto lending market has seen significant growth due to the abundance of liquidity. It has grown from $60 million in 2021, to more than $400 million by 2022.