- The data collection service DappReview has published a new report which shows that Ethereum is the only major cryptocurrency to show growth.
- According to the data collected, both EOS and TRON are recording declining user numbers and transaction volumes.
- The largest growth rate is the DeFi market, which is mainly based on Ethereum, with an increase of 778% compared to the first quarter of 2019.
The market for decentralized applications (dApps) on Ethereum, EOS and TRON grew strongly in some areas, with Ethereum remaining the king. According to a new report by DappReview, global transaction volume has increased by 82.2% to $7.9 billion, compared to the first quarter of 2019, over 13 blockchains considered.
Last year, casino dApps enjoyed increasing popularity, but the transaction volume in this area decreased by 64.4%. Furthermore, the total number of active addresses that proactively used dApps fell by 22.1%. In the first quarter of 2020, 254 new dApps were published across blockchains. This represents a decrease of 60 % compared to the first quarter of last year.
Ethereum remains king in the Dapp market
Overall, the three cryptocurrencies ETH, EOS and TRON account for 99.1% of the total transaction volume. The total transaction volume for Ethereum dApps amounted to $5.64 billion in Q1 2020, an increase of 652% compared to Q1 2020 ($743 million).
The largest growth was observed in the deFi market. The total transaction volume increased by 778% compared to Q1 2019. The most important day in the first quarter of 2020 was March 12, 2020, when DeFi dApps reached a historic high of $326 million. MakerDAO and dYdX accounted for the largest share.
The transaction volume of the financial applications reached $2.95 billion, achieving growth of 1,743 %. In terms of active addresses, Ethereum’s average number of DAA (Daily Active Adresses) was 16,763 in Q1 2020, representing an increase of 55.86%.