Decentralized finance applications (DeFi) on blockchain Ethereum have surged in the second quarter 2020, the daily trading volume reaching a record high in June.
The second quarter Dapp 2020 market report published by analytics site Dapp.com showed that the number of active DApp users on Ethereum ( ETH ) increased by 97% in the second quarter to an all-time high of 1,258,527. In addition, the volume of transactions for the DAFi ETH DeFi reached $ 5.7 billion in June, which represents more than 97% of the total volume of DApp on the network.
COMP driving Ethereum users?
Compound (COMP) became the largest DeFi token by market capitalization after its listing on June 16, gathering more than 60% in a few hours. According to Dapp.com, the number of daily users of DeFi DApp on ETH experienced a corresponding increase, from 7,682 on June 15 to 11,230 immediately after its release, an increase of 48%.
Source: dapp.com
When the COMP token reached an ATH price of more than $ 372 on June 21, DeFi's daily trading volume peaked at more than $ 608 million. Although COMP had a very successful introduction to blockchain, DApp.com reported that Brave's Basic Attention Token ( BAT ) was actually the most used token in DeFi, with a transaction volume of $ 931 million.
PassionCrypto reported on the DappReview analysis, which showed an activity reduction of around 12% for EOS and a decrease of 74% for TRON from Q1 to Q2. According to dapp.com, although the transaction volume of ETH DApps is almost 10 times that of EOS and TRON , the number of active users on the protocols has always increased by 30% and 50%, respectively.
