Ethereum application user activity has renewed maximum

by in Blockchain News


Ethereum continues to lead the blockchain ranking by the number of deployed applications (DApps).

The DappRadar team found that over the past 30 days, the number of active users of Ethereum applications has exceeded 1 million.

Researchers linked this trend to the rapid development of the DeFi decentralized finance market. This ecosystem is deployed on Ethereum, which accordingly had a positive effect on the transactional activity of users of this blockchain.

The ten largest DApps accounted for the lion's share of operations. We are talking about decentralized exchanges (DEX). The total trading volume on such platforms last month was over $ 21 billion.

Trending: Bank of America’s Recent Note Mentioned Solana’s Potential's DeFi Swap, Uniswap, and Compound are among the three most popular blockchain services. The number of active users of these applications was just over 930,000 (DeFi Swap - 509,000, Uniswap - 276,000, and Compound - 143,900). None of the top ten blockchain apps had less than 30,000 active users in October, according to a DappRadar report.

However, it is worth remembering that it is difficult to establish the exact number of DeFi users, as each of them can have more than one address. Therefore, the given data are rather arbitrary.

Analysts also pointed to two suspicious applications - Forsage and HEX. They can potentially threaten your funds.

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In October, many in the cryptosphere feared that the DeFi market could be a bubble. However, the ecosystem has survived even against the background of acute volatility of tokens, the total value of which now exceeds $ 13.3 billion.

The DappRadar report also states that blockchain gaming applications are less prone to market volatility.