Rise and Fall of DeFi | PeakD

As of January 2026, there are approximately 3,177,841 active DeFi projects. I must make that number a bit clearer, because it is simply no believable. First, while 3.1 million active projects sounds like a lot, it is important to remember that they are the survivors of over 14.8 million total launches since 2020. This means that for every 1 project that is currently active, roughly 4 others have failed or been delisted.