Ethereum DApps Record 334% Increase In Transaction Volume Since Q2 Of 2019

Friday 8 July 2020, 8:06 PM AEST - 1 month ago

Ethereum ETH DeFiEthereum DApps Record 334% Increase In Transaction Volume Since Q2 Of 2019Image Courtesy of FlickrCryptimi

Prominent cryptocurrency network, Ethereum has a significant network update underway. While the update is still in works, the network has been faring well not only in the DeFi space but has also taken over the DApp market.

Ethereum Community Prepping The Right Way For ETH 2.0

Decentralization has been one of the major driving forces of the cryptocurrency industry. Several people enter the industry to escape the clutches of the centralized institutions that run the monetary world. Despite this, several platforms in the crypto-verse continue to uphold centralization. However, to those who believe decentralization is a compulsion, the crypto-verse has a space dedicated to decentralization.

Lately, Decentralized Finance [DeFi] has undoubtedly been the talk of the town. The DeFi space even locked value as high as $2.207 billion. DApps werent far behind as the decentralized applications market also witnessed significant surges. As per DappReviews latest quarterly report, highlights had hit an all-time quarterly high of $16.73 billion in terms of transaction volume. The latest figures witnessed a 153.7 percent increase in the second quarter of 2019.

Ethereum 2.0 is scheduled to be launched in 2020. While the Ethereum community awaits its transition from Proof-of-Work to Proof-of-Stake, the network seems to be witnessing eventful accomplishments. The report also suggested that Ethereum was behind most of the transaction volume in the previous quarter. The network alone accounted for 85.3 percent of the volume while TRON and EOS were responsible for 14.3 percent together.

Source

Etheruems transaction volume reportedly summed up to $14.27 billion in the second quarter of 2020. In Q2 of 2019, the transaction volume of the network recorded a mere $14 ...

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