dApp market on Ethereum, TRON and EOS shows strong redistribution

  • 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, TRON, EOS dApps Transaction Volume

Source: https://dapp.review/article/251

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.

Ethereum dApps filtered by Category and Volume

Source: https://dapp.review/article/251

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%.

TRON Transaction volume down on the previous year

The total transaction volume of TRON Dapps in the first quarter of 2020 was $411 million, a decrease of 73.8% compared to the previous year (Q1 2019: $1.57 billion). Last year, casino dApps exploded with hype, resulting in a daily transaction volume record of $82 million in March 2019.

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TRON TRX dapp Transaction volume

Source: https://dapp.review/article/251

Currently the transaction volume in the casino sector is stable at $4.57 million. Furthermore, casino apps are almost exclusively responsible for the total transaction volume with a total volume of 92.1%. The total number of active addresses of TRON dApps in the first quarter of 2020 was 237,000 with an average DAA of 25,000, a decrease of 39.48%.

EOS continues to lose users

EOS’ total transaction volume in the first quarter of 2020 amounted to $1.74 billion, down 11.67% compared to Q1 2019. However, the average DAA decreased significantly by 87, from 85,000 to 11,000.

EOS dapp transcation volume

Source: https://dapp.review/article/251

Similar to TRON, EOS is a popular blockchain for casino Dapps. In the first quarter of 2019, 79.67% of EOS’ transaction volume was generated by casino dApps,$1.61 billion. In Q1, the volume declined sharply (74.95%). Most recently, dApps with barter marketplaces have become increasingly popular, with transaction volumes rising 226.26% from $386 million to $1.2 billion. Currently, this area accounts for 72.55% of the total transaction volume.

The DeFi market undoubtedly has the greatest potential at present. As ConsenSys recently reported, the DeFi market could reach a volume of several billion US dollar in the near future. However, it remains to be seen whether the high expectations can be met in the long term.

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About Author

Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.

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