An overview of the top three blockchain daily active wallets
* Important points 2. Introduction 3. Ethereum 4.TRON5.EOS6.WAX7.NEO8.IOST9.Ontology (ontology) 10. Loom Network11.Waves12.ThunderCore13.VeChain (VeChain) 14. Conclusion 1. Important points Ethereum is in Continued growth in the first quarter of 2020; daily active growth of 64% year-on-year, and dollar value growth of 371% year-on-year. The plunge in cryptocurrency prices on March 12 did have an impact. All Ethereum dapp category activity decreased by 10% or more. The daily activity of all TRON dapps dropped 15% year-on-year, and their value dropped 85%. The daily activity of all EOS dapps dropped by 74%, and the value dropped by 7%. Among other smaller blockchains, only WAX and NEO have significantly increased user activity. Both of these are due to the release of new dapps.
3. In the entire quarter of Ethereum, the total daily active independent wallets of all dapps in the Ethereum dapp ecosystem increased by 16%. There were 17,489 active wallets at the end of March. A year-on-year increase of 64%. Tracking the value of tokens, in the first quarter of 2020, the total value of interactions with all smart contracts in all blockchains is 6.7 billion U.S. dollars, of which Ethereum accounts for 81%. However, it is clear that the plunge in cryptocurrency prices on March 12 had a huge impact. Daily activity immediately dropped by 19%, which also triggered a more sustained downward trend for the rest of March. It is worth noting that the fall in the price of ETH has affected different types of dapps in different ways. For example, the initial price fluctuations actually led to a significant increase in the activity of decentralized finance and exchange dapps. Because users try to control their losses or generate profits. During price fluctuations, these dapps are usually more active. However, this activity had a knock-on effect, which was to increase the fuel cost to save any transaction on the Ethereum blockchain. Conversely, it makes many transactions too expensive. This has led to a sharp drop in the daily activity of some dapps, especially blockchain games. For example, the most popular Ethereum game "My Crypto Hero" lost more than half of its daily active audience on March 12. When the fuel cost returns to normal, the general dapp activity on Ethereum also returns to normal, except for DEX and DeFi dapps. Users of such dapps prefer to better understand what will happen next before making any new decisions. In addition, after extreme stress testing of the entire DeFi ecosystem, some DeFi dapps have deleted certain features. For example, MakerDAO reduced Dai's savings rate to 0%, while Fulcrum suspended its trading functions. This limits their users and also reduces overall dapp activity. Nevertheless, in the entire quarter from January 1 to March 31, 2020, the DeFi and exchange dapp categories have the fastest growth. DeFi dapps rose by 86% in terms of daily active independent wallets (calculated on a 30-day average), and exchanges rose by 99%. In terms of absolute users, the largest category of games and markets increased by 2% compared to the fourth quarter of 2019, while gambling and high-risk category activity decreased by 12% compared to the fourth quarter of 2019. In this case, it is clear that the key to maintaining the long-term growth trend of the Ethereum dapp ecosystem in the second quarter of 2020 will be to restore confidence in DeFi and exchanges.
4. Although TRON's daily activity decreased by 20% in mid-March, this did not actually happen until March 15, which is three days after the cryptocurrency price plummeted. Although the legal price of TRX tokens dropped by 48% on March 12th. It is worth noting that, unlike Ethereum, the daily activity of all TRON dapps recovers quickly. Compared with March 15, the activity at the end of March has only dropped by 8%, and has increased compared with the beginning of January 2020. In terms of overall data. In the first quarter, the active volume of all TRON dapps increased by 18%, despite a year-on-year decrease of 15%. As mentioned in previous reports, TRON's dapp activity reached a record high in the first quarter of 2019 and has been relatively declining since. Tracking the value of tokens, in the first quarter of 2020, the total value of interactions with all smart contracts in all blockchains is 6.7 billion U.S. dollars, with TRON accounting for 6% of it. As always, the vast majority of activity on TRON is generated by gambling and high-risk categories. In the first quarter of 2020, it accounted for 88% of daily activity, exchanges accounted for 7%, and games and markets accounted for 5%. In this quarter, gambling and high-risk categories were the fastest growing category and the largest dapp category, and exchange activity actually decreased by 45%. The drivers of this growth include new gambling dapps such as Play Royal and Xdapp. Previously popular TRON gambling dapps, such as WINk and 888TRON, retained their users. It is worth noting that Zephyr Finance, TRON's first DeFi dapp, was launched in April 2020. The lending function launched in the first quarter currently attracts less than 100 active independent wallets every day.
5. The long-term decline in dapp activity on EOSEOS began in November 2019, when the EIDOS airdrop launched at that time congested the entire blockchain for several weeks. Strictly speaking, the daily active data of dapp on EOS has never been restored. Gone are the days when the total number of daily active independent wallets for all dapps on EOS exceeded 40,000. As of the first quarter of 2020, the number of daily active independent wallets fell to less than 10,000 in February. But unexpectedly, the dapp activity data on EOS on March 12 did not fluctuate sharply. Throughout the first quarter, the quarterly average active activity dropped by 10% from the previous quarter, and fell by 73% year-on-year. In other words, EOS is more valuable than TRON. In the first quarter of 2020, the total value of interactions with all smart contracts on all blockchains was US$6.7 billion, accounting for 13% of the total value. Combining this downward trend, it is not surprising that all major dapp categories on EOS declined in the first quarter. Games and markets are still the categories that account for the most share on the EOS blockchain so far. Despite the successful launch of the mobile game Upland, activity still dropped by 10%. The activity of exchanges, gambling and high-risk categories all fell by 45%. But the activity of other categories increased by 27%, which was driven by IPSE (Interstellar Search Engine) dapp.
6. The WAX blockchain launched by WAX at the end of December 2019 uses the EOS.IO SDK, attracting some developers to port their EOS dapps, thus gaining a certain degree of appeal. The most interesting of these is the prospector game, which maintains approximately 1,500 active independent wallets every day. In the first quarter of 2020, it released EarnBet dapp (formerly EOSBet), which is a gambling dapp. Since its release in February, EarnBet's users have been steadily increasing. As of the end of March, there are more than 1,000 independent wallets active daily on WAX, which makes WAX the fourth most popular dapp blockchain after Ethereum, TRON and EOS. Having said that, the WAX dapp ecosystem is still weak. Only the three dapps of WAXTycoon, Karma and Newdex have generated more than 100 daily active independent wallets. In this context, the Garbage Pail Kids card series dapp launched in cooperation with Topps Company for the first time in the second quarter will be worthy of our attention. On a deeper level, it is clear that WAX persuading more EOS dapps to transform is essential to consolidate its early goals as the “best among other blockchains”.
7. NEO Recently, China-centric NEO blockchain has not made much progress. In the first quarter of 2020, the release of some NEO dapps promoted its user growth. The mobile game NEO Fish, launched in March this year, quickly became the most popular NEO dapp, with about 1,000 independent wallets that are active daily. In contrast, other NEO dapps, such as blockchain cute pets and Switcheo active independent wallets, can hardly maintain even 100. This has resulted in a substantial increase in its activity despite its low base. Obviously, NEO's development trajectory in the near future will depend on NEO Fish's popularity in the coming months.
8. There are dozens of dapps on the IOST blockchain, but only three of them (IOST Ball, Virus Battle and XPET) have a small number of users, that is, there are more than 100 active independent wallets every day. However, the decline in the total active data of dapps on IOST in the first quarter was not driven by any specific dapp. Like IOST Ball, Virus Battle and XPET all maintained their user numbers during the quarter. The overall trend seems to be the result of a long-term, systematic decline in user interest in most other dapps running on IOST.
9. Ontology (Ontology) The first quarter of 2020 is an important quarter for dapps on the Ontology blockchain to be active, but this is not a positive aspect. Chinese developer MixMarvel's two games, Cloud Doulong and Snake (the two most popular dapps on the blockchain), saw their respective user data plummet in early February this year. Yun Doulong dropped from about 500 active independent wallets to 200 per day, while Snakes dropped from 400 to about 100. Obviously, the overall result is a sharp drop in dapp activity in the entire Ontology blockchain; the number of independent wallets that are active daily has dropped from more than 1,000 to less than 400.
10. In terms of wallet activity, Loom Network, another blockchain that has experienced difficulties in the first quarter of 2020 is Loom Network. At the end of 2019, as the company's products shifted from consumer-oriented to corporate-oriented, co-founder and CEO Matthew Campbell left the company, and many blockchain games are now moving from Loom to other chains. Considering that this includes Sorare and Axie Infinity (fantasy creatures) (currently still in DappRadar's data), as well as the two most active dapps on Loom (200 active independent wallets per day), this negative situation seems to continue By the second quarter of 2020.
11.Waves Although DappRadar tracks more than 40 dapps running on the Waves blockchain, only one dapp is actually important: Neutrino Dapp. This is a DeFi product whose function is roughly similar to that of MakerDAO, because users can lock collateral (WAVES tokens) to generate stable currency USDN in return. Users can also pledge their USDN to earn interest. Neutrino attracts about 200 active independent wallets every day. (The number was as high as 350 in early February.) In addition to Neutrino, there are a small number of games and gambling dapps running on Waves, but at best, these games and gambling dapps can only attract dozens of daily users.
12.ThunderCore As far as the use of Dapp is concerned, we may be witnessing the resurgence of the ThunderCore blockchain. The premise is that any recovery starts with a very low level of daily active independent wallets below 100, and many simple games were released at the end of March. These games have greatly promoted the growth of the overall active data of ThunderCore blockchain Dapp. Of course, considering the timing of the release, the interim results will not be clear until our second quarter report. But at least it reminds us that the main driver of dapp activity is products.
13. VeChain (VeChain) Given that there are only two active dapps on the VeChain blockchain. So there is little to be said about the activity of its dapp in the first quarter of 2020. During this period, neither Vexchange nor Plair has undergone any major changes. Therefore, VeChain's overall activities remain normal.
14. Conclusion In the first quarter of 2020, despite the global impact of the epidemic, the only smart contract blockchain that was significantly affected from the displayed data was the Ethereum blockchain, and its daily activity dropped by 10%. This is mainly due to the reduction of the previously active DeFi sector, the sharp drop in the price of ETH cryptocurrency and its chain reaction. Nevertheless, the overall long-term growth of Ethereum continued in the first quarter. Most other smart contract blockchains (especially TRON and EOS) also continue to maintain their long-term trends. Among the above trends, the peak of their dapp activity was at the beginning of 2019, and there has been no sign that they can reach this peak again since then. For small blockchains, its activity has hardly changed. They are still working hard to attract developers and users, maintaining the daily active data of thousands of independent wallets. In this case, Ethereum's position as the leading smart contract blockchain for dapps is emphasized by the fact that it is the only blockchain that is affected by real-world events (even if it is negatively affected).
Comments
Post a Comment