- Recently, the leading analytics website DappReview has published the 2020 Q2 Dapp Market report highlighting the Ethereum accounted for 85% volume.
- On June 21, 2020, Ethereum DeFi volume hit a historical high of $608, 230,230.58.
- The report also revealed that the Basic Attention Token (BAT) was the most used token in DeFi in Q2.
Recently, the leading analytics website DappReview has published the 2020 Q2 Dapp Market report highlighting Dapp volume on Ethereum increased by 85%. According to the report, the total volume Ethereum total transaction volume active users have increased to 1.25 million in Q2 from over 637,000 in Q1. The overall trading volume of Ethereum dapps recorded a rise of 334% compared to this second quarter of 2019.
2020 Q2 #Dapp Market Report is here!
Full report ?https://t.co/rCLCsuSy0w
— DappReview (@dapp_review) July 8, 2020
Ethereum Defi Hits all-time high in Q2
On June 21, 2020, Ethereum DeFi volume hit a historical high of $608, 230,230.58. Additionally, the transaction volume of ETH peaked $5.7 billion covering 97% of the whole Dapp volume on the network.
As per the report, a total transaction volume of $12.43 Billion was generated in 12 blockchains in Q2 2020. These are Ethereum, TRON, EOS, Terra, ICON, Steem, Tomochain, Vexanium, Hive, Klaytn, NEO, and IOST. Along with, 1,394 active dapps, 2,808,050 active dapp users.
Besides this, the report also revealed that the Basic Attention Token (BAT) was the most used token in DeFi in Q2 showing a transaction volume of $931 million. Also, it is found that Compund’s token (COMP) has played a major role in the rise of DeFi in theQ2.
COMP Proved as Another Major Player
As soon as it got listed on June 16, it rallied over 60% within a few hours. Though, in Q2, Comp has emerged as the largest DeFi token by market capitalization. In the series of DeFi transaction volumes, EOS and TRON were the next two tokens following Ethereum. With a quarterly volumes id $1.89 billion and $260 million respectively.
Moving further in the report, there were 99 new Dapp in total. Out of which Ethereum launched 45 new Dapp in Q2 following Tron in the second position with 33 Dapps.
Overall the report indicated that Ethereum has become the significant blockchain of DeFi. It also proved as a dominating network in Q2.