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Ethereum second quarter: user volume doubles and transaction volume increases significantly.

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Dapp.com ‘s market report for the second quarter of 2020 shows that the number of users and transaction volume on Ethernet Fong have increased significantly under the catalysis of DeFi fever.

Translator’s note: summary from the original Dapp.com report.

, DeFi dapp’s daily trading volume reached an all-time high of $608230230.58 on June 21, 2020. On the same day, the price of Compound’s governance token, COMP, reached an all-time high of $372.79.

DeFi dapp transfers more than $4.9 billion (the highest in history), an increase of 67 per cent over the first quarter. The total volume of DeFi reached $11.5 billion.

BAT is the most widely used token in DeFi products. BAT tokens generated a transaction volume of $931 million, more than the combined value of ETH and Dai.

The number of active dapp users on Ether Square doubled in the second quarter (97%), surging by 1258527 new users, an all-time high.

Before June 5, the average number of daily active users of DeFi dapp on Etay Fong was 7682. This number increased by 48% to 11230 after the issuance of COMP tokens.

The volume of, DeFi dapp transactions reached US $5.7 billion in June, accounting for 97.5 per cent of all dapp on the ethernet network.

After the launch of COMP, the transaction volume of Compound increased 24-fold from $131 million in the first half to $3.3 billion in the second half of the month. Its number of users has also increased from 2629 to 11879, an increase of 3.5 times.

The second quarter of 2020 may be a turning point in the development of (decentralized application, (abbreviated as dapp).

According to Dapp.com ‘s Dapp Market report for the second quarter of 2020, the cumulative total of active users in a single quarter on dapp based on Ethernet Square exceeded 1 million.

The DeFi app is a big boost to this growth. The transaction volume reached US $5.7 billion in June, and its activity accounted for more than 97 per cent of the ethernet block chain. The report shows the importance of ethernet to the success of DeFi and the popularity of DeFi in recent months.

The COMP governance token released by Compound in June contributed to DeFi’s growth in the second quarter. Compared with May, DeFi’s transaction volume doubled and pushed up the total DeFi of Ethernet Fong for the whole quarter to more than US $10.3 billion. EOS and TRON, the two closest competitors in DeFi, had a transaction volume of US $1.89 billion and US $260 million respectively in the second quarter.

On June 21st, DeFi’s 24-hour trading volume exceeded $600m, setting a new high for all blockchain trading volumes.

Dapp.com calculates the number of active dapp users by accumulating all users who have interacted with dapp throughout the quarter. The number of active dapp users in Ethernet Square increased from 637000 in the first quarter to 1250000 in the second quarter.

The number of daily active users DeFi users is a smaller category, which refers to the wallet address of users who often interact with Ethernet Fong DeFi products. Its number also increased from less than 7700 in the first quarter to more than 11200 in the second quarter.

The market report for the second quarter of 2020 also pointed out that the Brave browser’s BAT tokens topped the list of total transactions in the quarter, reaching $930 million. This amazing trading volume has been boosted by liquidity miners who take advantage of the benefits of the COMP distribution system to increase revenues.

As a result of this farce, a recent governance vote decided to adjust the allocation mechanism of COMP to encourage volume and liquidity to be directed to more widely used tokens (such as DAI and USDC stable coins).

In the second quarter, 45 new dapps, were released on Etay Fang, and the nearest competitor, TRON, was 33.

The data show that developers may prefer to work on existing dapp rather than release new apps: in the second quarter, there were only 99 new apps on all blockchains, compared with 135 in the first quarter.

The second quarter was another quarter dominated by ethernet, with a significant increase in the number of users and daily trading volume, both on a month-on-month basis and compared with competitive agreements such as TRON and EOS.

As DeFi based on Ethernet Square continues to grow and continues to climb, it seems increasingly unlikely that any competitor can replace DeFi’s current darling status.

Disclaimer: the views and opinions expressed by the author are for reference only and do not constitute any financial, investment or other suggestions.