Quarterly Dapp Market Report Q1 2020

2020-04-15 08:00:00 · 10487 views · 5 min read

 

Key Highlights:

 

  • DeFi Dapps (Finance and Decentralized Exchanges) has a combined volume of over $11B in Q1 2020.

  • High-risk dapps dominating Q1 in terms of new dapps, amount of active users and volume growth.

  • EOS continues to struggle in Q1 2020.

  • TRON is the most active blockchain in terms of daily active dapp users.

  • Volume generated from ETH native token is only 7.3% of the total volume of Ethereum dapps. The remaining 92.7% comes from ERC-20 tokens including WETH (Wrapped ETH), Dai and the others.

  • DAI is dominating the stablecoin market in the DeFi ecosystem - the volume of Dai, USDC, and USDT is $2.96B, $528.54M (17.88% of Dai‘s), $151.96M (5.14% of Dai's).

  • How does the Tron acquisition and Hive Hard Fork to Steem?

 

Overall Market:

 

 

DeFi Dapps (Finance and Decentralized Exchanges) has a combined volume of over $11B in Q1 2020. 

In this quarter, more tokens are traded in decentralized exchanges with a total volume of $8.68B, which is up by over 50% since Q4 2019. 

High-risk dapps dominating Q1 in terms of new dapps, amount of active users and volume growth. The amount of dapp users for High-risk category is also up by 50% - the amount of active High-risk dapp users has reached the 300,000 tier, which is the highest ever in a quarter. There are 383K active high-risk users in 2019, which means the amount of active high-risk users in Q1 2020 is already 80% of the amount for the whole year last year.

There are only 92 new dapps launched in Q1 2020 - the least amount of new dapps since 2019. However, more volume is made in Q1 2020, which is almost double from the volume from Q4 2019.

 

In the bear market, more developers are launching high-risk dapps than any other category. Almost 50% of new dapps are high-risk dapps.

 

Tron became the most active blockchain in terms of daily active dapp users. 

Tron has an averaging 21,606 daily active users in Q1, counts 33% of the total daily active dapp users of the 6 blockchains. Meanwhile, there are 20,994 average daily active users on Ethereum blockchain. 

 

 

Ethereum

Ethereum has countered a decline in terms of active dapps and new dapps compare to last quarter. However, the Ethereum dapp ecosystem is having its best time due to the blooming DeFi market. 

 

ETH volume is 4.33M ETH, which is $761M in USD. Volume generated from ETH native token is only 7.3% of the total volume of Ethereum dapps. The remaining 92.7% comes from ERC-20 tokens including WETH (Wrapped ETH), Dai and the others. 

 

There is a total volume of $8.76B generated from DeFi dapps (including financial services and decentralized exchanges), which is 84% of the total Ethereum dapp volume.

 

WETH (Wrapped ETH) is wider use than ETH native token in the dapp ecosystem, especially in DeFi.  

DAI is dominating the stablecoin market in the DeFi ecosystem - the volume of Dai, USDC, and USDT is $2.96B, $528.54M (17.88% of Dai‘s), $151.96M (5.14% of Dai's). 

 

 

EOS

EOS continues to struggle in Q1 2020. The amount of EOS active users has dropped another 50% in Q1 than Q4 2019.

EOS only has 2 new dapps launched in Q1 2020. Since Q4 2019, EOSIO has launched several programs including EOS grants, and EOSIO challenges to encourage Ethereum developers to migrate their projects to EOS but it didn’t seem to be working well so far in Q1. Back in 2H 2019, WAX launched an EOS compatible blockchain and “steal” major active EOS dapps including Prospectors, Earnbet (former EOSbet). 

 

 

STEEM

 

How does the Tron acquisition and Hive Hard Fork to Steem? 

Steem daily active users slightly dropped 7% after the news of Tron acquisition. Dropped another 17% after the hard fork. 

 

 

 

Full Report:




 



 

 

 

 

 

 

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