Our partner from DApp Review has just released their latest Q1 DApp report.
As the Black Swan of 2020, the Coronavirus outbreak spread rapidly around the world and triggered the global market sell-off. Crypto market tumbled sharply in two consecutive days in March, which had a direct impact on the dapp market in Q1.
- A total transaction volume of $ 7.9 billion across 13 blockchains, increased by 82.2% compared to 2019 Q1. The major three protocols, Ethereum, TRON and EOS, contributed over 99.1% of the total volume. Only Ethereum had growth YoY, while TRON and EOS both suffered decreases in users and transaction volume.
- Ethereum-based DeFi projects are the main volume growth driver, increasing 778% compared to 2019 Q1.
- Casino dapps, the popular category in last year, were down 64.6% in terms of volume.
- The total active addresses interacted with dapps dropped 22.1%.
- 254 new dapps were launched in Q1, 60% lower than Q1 2019.
- Game, Exchange and Casino are the top 3 sectors in terms of active addresses
- Many creative new products are launching and evolving in the Game, NFT, CryptoArts space.
You can read the entire report here.