A report published by DappReview shows that the first quarter of this year was a very good one for decentralized applications. The volume of transactions recorded within dApps was close to $ 8 billion. This represents an increase of 82% compared to last year. 99% of these took place on the Ethereum, EOS and TRON blockchains.
DeFi Ethereum projects increased by 800%
Of all types of applications, the DeFi ecosystem built on Ethereum has the highest growth.
Transaction volumes increased by 800% compared to 2019. Most (80%) of these DeFi projects use ERC-20 tokens.
Exchange applications represented volumes of $ 2.3 billion, while funding applications increased to $ 2.95 billion.
Throne dApps, 73% drop
The Tron blockchain network had a considerable presence in the dapp ecosystem, but the volumes of transactions decreased by 73%. In the last quarter of 2019, it had reached $ 1.57 billion. In Q1 2020, this amounted to just $ 411 million.
According to the report, the casino gaming dApps that dominate the Tron network saw a sharp drop in transaction volume.
EOS, 11% decrease
The situation was repeated on the EOS blockchain – the volume of transactions decreased by 11% this year, according to the report. Like TRON, most of the EOS dApps were those of gambling, whose volume decreased by almost 75%.
However, the EOS blockchain saw a significant increase in the volume of dApp exchange transactions. These increased by over 226% and became majority in the network.
DappReview also noted that most volumes declined in March, following the general decline of the market. The most affected were gambling dApps, whose popularity decreased by 64%.
In addition, only 250 new dApps were launched in the first quarter of 2020 – a 60% decrease from the first quarter of the previous year.
Therefore, DeFi Ethereum projects have increased by 800% and Ethereum continues to dominate the decentralized applications market.
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