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DeFi Dapps has a combined volume of over $11B in Q1 2020, amount of active users and volume growth

In the bear market, many developers are launching riskier dapps than any other category. Nearly 50% of new dapps are high-risk dapps. Only 92 new DeFi Dapps will be launched in Q1 2020 – the least number of new dapps since 2019. However, more volumes will be produced in Q1 2020, almost double the volume from Q4 2019.

defi-dapps-has-a-combined-volume-of-over-11b-in-q1-2020-amount-of-active-users-and-volume-growth

Source: Dapp.com

DeFi Dapps has a combined volume of over $11B in Q1 2020

In this quarter, many tokens were traded in decentralized exchanges with a total volume of $ 8.48B, an increase of more than 50% since the fourth quarter of 2019.

defi-dapps-has-a-combined-volume-of-over-11b-in-q1-2020-amount-of-active-users-and-volume-growth[1]

Source: Dapp.com

Dapps are at a high risk of dominating Q1 in new dapps, active users, and volume growth. The number of dapp users for the high-risk portfolio also increased by 50% – the number of active high-risk dapp users reached 300,000 – the highest in a quarter. There are 383.000 high-risk users active in 2019, which means that the number of high-risk users active in the first quarter of 2020 was 80% of the amount for the whole of last year.

defi-dapps-has-a-combined-volume-of-over-11b-in-q1-2020-amount-of-active-users-and-volume-growth[2]

Source: Dapp.com

We can take a look at the following highlights:

Tron averaged 21,606 daily active users in Q1, accounting for 33% of daily active dapp users out of the six blockchains. Meanwhile, there are 20,994 average daily active users on the Ethereum blockchain.

Ethereum has resisted a decline in active dapps and new dapps compared to the previous quarter. However, the Ethereum dapp ecosystem is having the best time due to the flourishing DeFi market. ETH volume is 4.33 mln ETH, which is $ 761 mln in the dollar. The volume generated from the original ETH token is only equal to 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.

defi-dapps-has-a-combined-volume-of-over-11b-in-q1-2020-amount-of-active-users-and-volume-growth[3]

Source: Dapp.com

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

WETH (Wrapped ETH) is more widely used than the native ETH 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).

defi-dapps-has-a-combined-volume-of-over-11b-in-q1-2020-amount-of-active-users-and-volume-growth[3]

Source: Dapp.com

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

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