Top Blockchain Dapps by 30-day Transactions Volume

The decentralized finance (DeFi) industry is gradually peaking into the mainstream. There has been a massive increase in participation, users, and new decentralized protocols. This is evident as the total value of assets locked in these protocols has significantly increased to almost $40 billion, per DeFi Pulse. As of February 11, 2020, this same industry only had a valuation of about $1 billion. 

The lending protocols dominate the entire DeFi space, with a total valuation of $17.9 billion. Maker might be the largest decentralized finance protocol by TVL, but not the top protocol in terms of transaction volume over the past 30 days.

Leading Dapps by Transaction Volume

According to data curated from DappRadar, the top ten decentralized applications by monthly transaction volume include

• Venus
• dYdX
• Compound
• Uniswap
• Curve Finance
• SushiSwap
• Yearn Finance
• Autofarm
• Aave
• PancakeSwap

As per DappRadar, Venus (XVS) is the top decentralized protocol by monthly transaction volume. The algorithmic money market protocol for BEP-20 assets gained US$54,520 million in volume in the past 30 days. dYdX, a decentralized cryptocurrency trading platform, sees about US$32,970 million within the same period, followed by the leading protocol, Compound, with a US$32,690 million transaction volume.

The largest decentralized exchange by TVL, Uniswap, follows the list with more than US$28 million. Curve Finance and SushiSwap recorded about US$26,700 million and US$16,910 million, respectively. SushiSwap has been the biggest competitor for Uniswap when compared to the value of assets locked. Uniswap has a TVL of US$3.93 billion, while SushiSwap closes in with US$3.63 billion. 

SushiSwap almost overtook Uniswap during the end of its liquidity incentive program last year. Since that period, it has been neck and neck battle for both DEXes. 

Aside from Yearn Finance, which sees US$12,780 million, other Dapps have less than $10 million in transaction volume. These include Autofarm (US$8,610 million), Aave (US$3,170 million), and PancakeSwap (US$2,900 million).