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While many decentralized finance (DeFi) tokens suffered heavy losses last month – leading to hastily written obituaries about the DeFi ‘bubble’ – statistics measuring user activity saw continued industry-wide growth.

According to crypto market data aggregator Dune Analytics, the total number of unique DeFi user addresses is about 860,000, an increase of about 10 times from the last year. Note: This is a cumulative number and users can have more than one address.

Unique wallets that work with DeFi over time: Dune Analytics

Despite many DeFi tokens losing significant value last month, the number of users in the industry rose nearly 40% in October, from around 555,000 to 775,000.

Another 85,000 users joined DeFi during the first 11 days of November, increasing the number of users by 11% in less than two weeks. In total, this means that the number of DeFi users has increased by 55% since the beginning of October.

Loan protocol Composite and decentralized exchange (DEXDydx were among the DeFi’s strongest winners, increasing their user base by 250% and 50%, respectively, in the last 30 days.

Compound’s absolute growth even surpassed that of leading DEX Uniswap, with protocols each attracting 135,000 and 110,000 new users over the last month.

Total number of users over time on Uniswap and Compound: Dune Analytics

The number of markets hosted on Uniswap is also rapidly increasing with the number of links on the platform increasing 34%, from approximately 16,200 to 21,700, for 30 days.

Dune almost estimates that 81,000 users interacted with Uniswap in the past week – equal to 9.4% of all unique addresses across the DeFi industry.

Uniswap currently represents 63.6% of daily DEX trading, followed by Curve at 12.2%, SushiSwap at 8.64% and 0x at 7%. As such, only four exchanges make up more than 91% of the total DEX volume.