• About Us
  • Privacy Policy
  • Contact Us
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
No Result
View All Result
Cryptounfold
No Result
View All Result
Home Cryptocurrency

Ethereum leads with 96% of all DeFi transactions as Tron, EOS, and NEO show promise

by admin
October 13, 2020
in Cryptocurrency
0
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter


Data shows a staggering 96% of all transactions on decentralized finance (DeFi) applications take place on Ethereum, the world’s second-largest blockchain network by market cap.

Related Posts

AssetDash – An All-In-One Portfolio Tracking System for Modern Investors

Top 5 Crypto Portfolio Trackers To Use in 2022

DeFi Yield Protocol (DYP) Unveils New Website and CAWS Adventures Game as All 10,000 CAWS NFTs Get Minted

Asia Broadband Ready to Launch PayAABB Crypto Payment Gateway Following Successful Gold-Backed Token Release

This is despite there being faster and low-fee networks available on the market today, suggesting both developers and participants have yet to fully trust and adopt newer blockchains.

DeFi has boomed this year on the back of yield farming and other non-custodial crypto applications like lending and DEX trading. The industry was worth under $600 million at the start of this year but has quickly grown to amass over $11 billion in locked assets.

“Best quarter” for DeFi

Dappradar, which published the findings in a recent report, said the DeFi industry has grown more than ten times in Q3 of 2020. The firm analyzed on-chain activity and data from blockchain networks such as Ethereum, Tron, and EOS, but also included its findings from IOST, Ontology, and NEO.

The report said that Ethereum, TRON, and EOS account for 97% of daily active wallets, with the strategy of distributing the so-called “governance tokens,” which allow holders to partake in network decisions and,  and yield farming have become “key to successful dapp growth.”

Image: Dappradar

It added that Q3 2020 was the “best quarter for the DeFi ecosystem so far.” Dappradar also noted the overall DeFi ecosystem transaction volume surpassed $123 billion, with 96% of that total belonging to Ethereum. 

In terms of the $11 billion in total value locked (TVL) assets, Uniswap, MakerDAO, and Curve. The growth of Uniswap was driven mostly by the introduction of the UNI governance token.

Data from active daily wallets, a metric that measures on-chain transactional activity, showed 57% of such activity comes from Ethereum wallets. Tron and EOS, both controversial for being centralized blockchains, saw over 35% and 5% of all activity. The remaining is split among other blockchains.

Image: Dappradar

The report noted:

“The biggest contributors to the Ethereum protocol were Uniswap, Sushiswap, Balancer, and Compound. Together they have generated 56% of the daily active wallets.”

New dapps see surge after “DeFi” pivot 

Tron dapps like JUST, Zethyr Finance, and Oikos.cash along with a few new projects like Sun, Unifi Protocol, and SharkTron gained popularity and generated more than 32,000 daily active wallets, the report added.

Meanwhile, the report stated “smaller” blockchains like IOST, Ontology, and Neo produced similar DeFi products in Q3 this year and saw a surge in both their active wallets and transactional volumes

The daily active wallets of IOST, Ontology, and NEO have increased by 357%, 1,589%, and 840% respectively, while in terms of transaction volumes, IOST accounted for over $123 million with Neo and Ontology generating $12 million and $1.6 million respectively.

Like what you see? Subscribe for daily updates.



Source link

Tags: DeFiEOSEthereumleadsNeoPromiseShowTransactionsTron

Popular

Press Release

A Multi-Currency Wallet For All Your Crypto Needs

by admin
June 29, 2022
0

CCTIP: A Multi-Currency Wallet For All Your Crypto Needs KOWLOON CITY, HONG KONG Tue Jun 28 2022 03:45:00 GMT-0400 (EDT)...

Read more

Fat Cat Killer ($KILLER) is now listed on Bitmart!

June 28, 2022

DeFi Skeptic Aspires to Make the Decentralized World Better Through Increased Transparency and Information.

June 28, 2022

Anchorage Digital to Introduce Ether Staking for Institutions as Move to PoS Approaches

June 29, 2022

Will emergence of this unique young Crypto star bring new hope for the Crypto world.

June 28, 2022

About

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Follow us

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Litecoin
  • Market
  • Press Release
  • Regulation
  • Uncategorized

Recent Posts

  • Vitalik’s Mom Offers Advice on How to Make It in Crypto
  • Do Rate Hikes Matter? Bitcoin Traders Learn How Fed Moves Markets in Twitter Era
  • Bitcoin and Stocks Drop; Analysts See Risk of Further Downside
  • New York Environmental Regulators Deny Greenidge’s Power Plant Permit
  • About Us
  • Privacy Policy
  • Contact Us

© 2020 cryptounfold.org

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO

© 2020 cryptounfold.org

  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$49,095.002.28%
  • ethereumEthereum(ETH)$3,384.05-0.62%
  • HEXHEX(HEX)$0.1290085.45%
  • cardanoCardano(ADA)$2.18-2.77%
  • tetherTether(USDT)$1.00-0.27%
  • binancecoinBinance Coin(BNB)$425.46-0.83%
  • SolanaSolana(SOL)$166.52-1.81%
  • rippleXRP(XRP)$1.04-1.73%
  • usd-coinUSD Coin(USDC)$1.000.74%