At DappRadar we track daily active wallets, transaction volume, and total value locked. This data gives us a window into how each blockchain and the broader dapp ecosystem is performing.
The results of Q3 2020 were superior to the previous quarter. In terms of total daily active unique wallets, the 13 blockchains listed on DappRadar already hold more than 200,000 daily wallets. The major activity is occurring within the top three blockchains: Ethereum, TRON, and, EOS.
Total transaction volumes reached $125 billion in Q3 2020. $113 billion higher than it was in Q2 2020. The Ethereum blockchain accounts for 96% of the total created value and the majority of it belongs to the DeFi ecosystem.
Despite the incredible development of Ethereum. EOS and TRON also tried to join the hype. Both blockchains duplicated a few Ethereum dapps that seemed to be driving activity.
Recently, smaller blockchains showed interest in creating their own DeFi ecosystems and delivered a couple of new DeFi related dapps.
Key takeaways
- Ethereum stands as the most significant blockchain even given the gas price jump. The value of the blockchain grew by $109 billion in Q3 2020 if compared to Q2 2020.
- TRON continues to disturb Ethereum’s dominance. Still, 60% of activity remains within the Gambling & High-Risk categories.
- Mixed results for EOS in Q3 2020. The games category started to weaken, while DeFi compensated for the loss.
- Our ‘best of the rest’ in Q3 2020 goes to a few smaller blockchains: IOST, Ontology, and NEO for their attempts to join the world of Decentralized Finance.
HIVE
The Hive protocol has been growing since the day it was released. In Q3 2020 the protocol is stable with daily active wallets grown by 1% compared to Q2 2020. Dapps such as Splitnerlands, Peakd, and the Hive Blog are all major contributors to the growth. The Splinterlands dapp hold 60% of the total activity with at least 6,000 wallets per day.