Dapp Ecosystem Trends: Q3 Flash Report



Three months of data, in 3 minutes.

As we prepare our full 2020 Q3 Dapp Ecosystem Report to be released on the 1st of October 2020. It is important to look at user activity across blockchains. We present a quickly digestible overview of Q3 2020 in the context of daily active wallets.

In Q3 2020, activity across the dapp ecosystem as tracked by DappRadar has grown by 115% so far, surpassing 200,000 daily active wallets. 

Ethereum

  • Activity on Ethereum increased by 154% in Q3 2020 compared to Q2 2020 despite high gas prices.
  • The increase in daily activity is driven by the DeFi, Exchange, and Marketplace categories.
  • DeFi grew by 97% while Exchanges spiked by 376%. Uniswap was the main driver behind the growth in Exchange activity due to the release of the UNI token in September.
  • Marketplaces have increased daily activity in Q3 2020 by 475%. Rarible is leading the growth in Q3 due to the release of the $RARI token.
  • Categories like Games, Gambling, Social & High-Risk have experienced a drop in daily activity in Q3 2020 compared to Q2 2020 and Q3 2019.

TRON

  • TRON 4.0 was launched in July which may have accounted for an increase in activity, volume, and token price.
  • The activity has surpassed 265% and 302% compared to Q2 2020 and Q3 2019 respectively.
  • The High-Risk category on TRON contributed 55% to the total daily activity of the protocol.
  • TRONs DeFi ecosystem showed impressive growth in Q3. Generating an average of 8,000 daily active wallets.
  • The rise of DeFi has fueled Exchange growth in Q3 2020 in regards to daily activity and volume.
  • Gambling increased by 73% and seems to be recovering in Q3 2020.

EOS

  • Daily activity on EOS has increased by 34% compared to Q2 2020.
  • EOS still faces a decline of 27% in daily active wallets year-on-year.
  • The increase in daily active wallets in Q3 2020 is due to growing categories such as Social, DeFi, and Exchanges. 
  • The Social category has grown by 708% in Q3 2020. 
  • Daily activity within the DeFi category has increased by 684% in Q3 2020. 
  • The Exchange category on EOS increased by 48% compared to Q2 2020.

Best of the rest

  • ThunderCore daily active wallets grew by 50% compared to Q2 2020 and within just a couple of months, the protocol’s activity reached 20,000 daily active wallets.
  • Hive activity was stable around 10,000 daily active wallets.
  • Steem activity is continuously decreasing in Q3 2020 by 50%. 
  • WAX increased its activity by 204% in Q3 2020 by reaching almost 8,000 daily active wallets.
  • IOST daily active wallets are stable with at least 1,200 daily. 
  • Waves daily active wallets increased by 171% compared to Q2 2020.

The full 2020 DappRadar Q3 Dapp Ecosystem Overview report will be available on Thursday 1st October. For now, make sure to bookmark DappRadar.com and sign up for the newsletter to receive all the latest news!

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