DappRadar is the world’s leading Dapp data and aggregation site. Recently, it added an ERC20 token tracking for all Ethereum Dapps.
The company uncovered over $73 million in unaccounted 7-day volume and the actual volume increased from $27 million to over $100million. Annually, this sums up to $3.8 billion in unaccounted ETH Dapp volume. Ethereum Dapps account for over 60% of total Dapps and this brings ETH annual value to exceed $5billion.
This tracking system is unique to DappRadar and is live on their site. All ETH Dapps will now be ranked on the total volume of all ETH-based ERC20 tokens passing through their smart contracts. This feature is live for EOS and will be available in other protocols in the future.
Here is a chart to help you understand better the huge difference this makes.
Quoted from Skirmantas Januskas, CEO & Co-Founder of DappRadar, “This will greatly increase the transparency of value creation on the Ethereum blockchain, especially for decentralized exchanges that support the trading of ETH-based tokens and the fast-growing DeFi category.”
We are also pleased to have Ian Kane, Head of Communications of DappRadar, to provide us with more comments.
Q: What made you guys start doing token tracking for all tokens besides the native currencies on their own blockchain?
Ian: This update has always been on our roadmap for 2019. DappRadar wants to play an integral role in bringing the Dapp space the most accurate and reliable Dapp data. These product updates go toward that ambition. We also realized that perhaps the entire industry has made a presumption that current data tracking methods were accurate enough. Even analysts and reporters assume they were already viewing the most accurate data.
Previously only the volume of the native ETH cryptocurrency was tracked. Now, ETH Dapps will be ranked on the total volume of all ETH-based ERC20 tokens passing through their smart contracts. This greatly increases the transparency of value…