Home DApps Dapp.com: DeFi DApps Gain Significant Growth in Q3 2019

Dapp.com: DeFi DApps Gain Significant Growth in Q3 2019

by Monica Padillo

Dapp.com stated in its Q3 2019 market report that decentralized finance or DeFi DApps gained a significant growth in the past three months.

According to Dapp.com’s Q3 2019 Dapp Market Report, DeFi DApps performed over $525 million in the third quarter of 2019, 88 percent of which were contributed by Ethereum DeFi DApps.

Over 132,000 users adopted Ethereum-based DeFi DApps, with MakerDAO and Nest as the mostly used blockchain apps over the three-month period. Ethereum DeFi DApps gained a total volume of over 2,275,000 ETH in the third quarter of the year, contributing over 58 percent of the volume of Ethereum DApps.

Dapp.com reported that finance became the second-largest category in terms of volume in the third quarter of 2019, as well as in terms of number of new users after gambling DApps.

Meanwhile, DApps that built on Ethereum, EOS, Steem, TRON, Tomochain, and IOST performed a total transaction volume of $2.03 billion in Q3, a nearly 40 percent decline compared to Q2 of 2019.

EOS had the slowest growth in terms of the amount of mainnet account and new dapp users, but the highest user retention among the other blockchains.

Dapp.com also ruled that TRON has become the largest blockchain platform that launched since 2017, with another 500,000 users added on the TRON mainnet in Q3.

TRON continuously succeeds Ethereum as the popular blockchains for building DApps.