Data Shows dApp Market Is Not Cooling Down, Despite Trading Volume Down By 60% During Spring Festival Holiday
Decentralized applications (dApp) has started making the headlines since 2018. As the crypto bear market extends into 2019 and gambling dApps which help EOS and Tron rise to compete with Ethereum as host blockchains begin to lose momentum, will the hype around the dApp field die down this year?
Why did this happen? According to DappReview, as China has the most players in developing and using decentralized gambling which records the most dApps among all categories, the Chinese New Year celebrations led to the decreasing activities on major dApp platforms. Moreover, big miners’ flagging interest in mining “game tokens” was also blamed for the decreasing trading volume.
Last but not least, although new users continue to flock to dApps, the lack of high-quality blockchain-based applications on the three public chains can hardly retain users and do little to increase trading volume and activities.
Tron has surpassed Ethereum and EOS in dApp Usage owing to the thriving of games on the platform with mining and gaming modes. Over the past two months, dApp users on Tron blockchain reached 267,000, followed by EOS ( 197,000) and Ethereum (151,000).
When it comes to active users(addresses), Tron dominates the competition, too. During the same period of time, active users on Tron reached 16,236 who traded more than 60 times with over 6,000 TRX tokens each time. In comparion, there were 13,845 active addresses on EOS who traded more than 60 times with over 60 EOS each time, and the active user number on Ethereum was only 2133, referring to those who traded more than 60 times with 1.5 ETH each time.
The top 1,000 addresses contribute more than 80 percent of transaction volumes in the dApp market of EOS, TRON or Ethereum. The remaining hundreds of thousands of addresses are responsible for 20% of trading volumes.
DappReview notes that Tron and EOS has outperformed Ethereum in the dApp industry. Besides, the real users on these three popular dApp blockchains have ranged between 2,000 to 6,000 every day, and the relatively stable market is waiting for the next blockbuster game.
Dapp Review thinks enthusiasm for dApps does not diminish, but miners and gambling dApps have entered a down cycle. If the dApp industry wants to gain more traction in 2019, it should focus on valuable projects and real-world use.