Odaily Frontline｜DApp Ecosystem Report: The transaction volume of Ethereum in October exceeded 47 billion US dollars

余YU

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2020-11-05 20:21 (UTC+8)

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BSC DeFi DApp may become the main competitor of Ethereum DeFi ecosystem.

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BSC DeFi DApp may become the main competitor of Ethereum DeFi ecosystem.

This article comes fromDappRadar

Odaily Translator |

This article comes from

Odaily Translator |

On November 5, DappRadar released the October 2020 DApp Ecosystem Report.

Note: The DeFi ecosystem refers to Decentralized Finance (DeFi) and Decentralized Exchange (DEX) DApps.

Highlights of the report:

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Highlights of the report:
The number of Ethereum daily active wallets increased by 14% month-on-month in October;
Ethereum’s transaction volume exceeded $47 billion in October.
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Ethereum

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DeFi remains a major contributor

Ethereum remains the most important protocol in 2020. Although the price of Ethereum Gas has dropped in October, it is still at a relatively high level. However, it barely affected the performance of key indicators in October.

The number of daily active wallets increased by 341% year-on-year and 14% quarter-on-quarter. The biggest contributor remains DeFi ecosystem DApps, accounting for 83% of total daily active wallets. Games and Marketplaces were the second and third largest categories in October.

The total value locked in the DeFi ecosystem is relatively stable. There were no major changes in October. TVL (Total Locked Volume) and aTVL (Adjusted Total Locked Volume) increased by 5% and 4%, respectively.

The price of Ethereum tokens has also been on a “roller coaster” ride recently. At the end of October, the price of ETH exceeded $400. While this is not the highest value for 2020, it is an increase of more than 6% compared to the end of September.

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The number of daily active wallets in the gaming and marketplace categories increased by 126% and 39%, respectively

The largest contributor to the gaming category is Axie infinity, accounting for 48% of total daily active wallets. Rarible and Axie Marketplace were the two largest contributors in the Marketplace category. On average, these DApps had about 1,100 and 700 daily active wallets in October, respectively.

The number of daily active wallets of DApps in the DeFi ecosystem increased by 6%. The biggest drivers are Compound and Uniswap.

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According to the DappRadar DeFi page, the total value locked remained stable in October. The largest portion of the total value still belongs to Uniswap, with $2.8 billion in total value locked as of the end of October.

MakerDao and Compound maintained their second and third positions, respectively. MakerDao has $1.8 billion locked, while Compound has over $1 billion locked.

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Transaction volume exceeds $47 billion

The market category traded around $9 million, while the games category traded $3.4 million.

TRON

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In October, the TRON protocol did not perform as expected. While the release of version 4.0 in July and the attempt to create a DeFi ecosystem looked promising in the third quarter of 2020, in October, almost all indicators fell.

The price of Tron's native token, TRX, peaked at $0.034 in September, before falling to $0.025 in October.

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12% reduction in the number of daily active wallets

Total daily active wallets fell 12% in October. However, as shown in the graph below, it is clear that the greatest daily activity comes from the high-risk category.

The activities in October were also mainly from high-risk categories, with more than 140,000 daily active unique wallets, an increase of 10% compared to September.

In October, the DeFi ecosystem on TRON proved to be high-risk, and in October, ShartTron and SharkDeFi fell into this category. Data for these DApps exploded and then disappeared within two weeks. This case proves that TRON's DeFi ecosystem is very experimental and risky.

On the other hand, JustSwap has been stable with 2,500 daily active wallets.

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Top contributors in October include the following categories: high-stakes, gaming, and the DeFi ecosystem. The largest DApps were JustSwap, WINk, and TRONCAMP with total transaction volumes of $128 million, $66 million, and $65 million, respectively.

EOS

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EOS activity has increased since May, both in terms of transaction volume and the number of daily active wallets. However, the number of daily active wallets was down 4% as of the end of October.

The price of the EOS native token also fell by 4%, reaching $2.51 at the end of October.

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Decreased activity in the DeFi ecosystem

As the chart below shows, the number of daily active wallets fell 4% in October.

On the other hand, the Games and Marketplaces category fell slightly by 1% from September.

The EOS Social DApp category grew 9% compared to September. The DApp with the largest contribution in October is Yup, with more than 7,000 independent wallets.

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EOS had a transaction volume of $1.3 billion in October 2020. As can be seen in the chart below, compared to September, transaction volume was down 26%; but it was up 1242% year-over-year.

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Best performing among other blockchains

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Binance Smart Chain (BSC), Hive, Steem, and WAX

Binance Smart Chain (BSC) launched in September. Since then, the number of daily active wallets has exploded, surpassing 10,000 wallets by the end of October. However, the number of daily active wallets dropped 8% in October compared to September; total transaction volume has exceeded $1.2 billion.

The DApps driving the growth of BSC are PancakeSwap and Cross Finance, which fall into the DeFi category. BSC DeFi DApp may become the main competitor of Ethereum DeFi ecosystem.

Last but not least is the Steem protocol. Active wallets have been declining as some DApps move to Hive, with the protocol’s daily active wallets down 10% in October.

in conclusion

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in conclusion

After a surprising September, all blockchains tracked by the report showed a downward trend in October.

The transaction volume of Ethereum in October decreased by 38% compared to September. In October, activity in daily active wallets increased by 14%. The biggest contributor is the DeFi ecosystem DApp.

Transaction volume and daily active wallet activity for EOS and TRON declined in October.

TRON's DeFi DApp proved to be risky. Launched in September, SharkTron and SharkDeFi saw spikes in transaction volume and daily active wallets, only to disappear after a few weeks.