$98,224.00
5.84%$3,444.41
10.59%$2.30
16.52%$677.21
9.04%$193.12
9.28%$0.336438
25.85%$0.999849
0.08%$0.95971
24.73%$3,439.58
11.25%$0.251198
11.65%$40.59
19.72%$23.85
18.61%$4,087.29
9.98%$5.50
14.28%$4.75
35.31%$0.000023
22.61%$97,955.00
5.91%$0.376589
19.68%$7.45
22.14%$33.51
44.68%$0.269199
13.97%$3,442.75
10.40%$468.73
19.54%$9.28
1.48%$13.90
23.07%$0.00001885
29.52%$103.93
19.23%$3,633.07
10.81%$5.38
18.06%$4.31
15.73%$0.999052
0.20%$10.60
5.95%$10.93
21.83%$0.999723
0.01%$321.79
17.97%$0.168557
18.27%$0.503467
21.38%$27.40
15.22%$1.22
21.50%$7.63
24.12%$0.04853424
25.36%$3.93
14.34%$486.37
21.06%$193.19
14.76%$1.36
20.01%$24.53
0.93%$1.18
37.42%$0.802816
19.07%$5.24
18.57%$0.125466
13.19%$1.07
24.45%$0.354861
24.11%$46.19
10.08%$7.04
19.82%$2.72
31.93%$1.78
13.06%$1.82
22.53%$1.90
16.29%$0.00003337
32.96%$1.46
17.87%$5.37
22.40%$1.025
48.53%$2.28
29.20%$22.28
19.41%$2.15
23.31%$0.223317
20.37%$3,448.22
10.83%$98,246.00
5.85%$0.455589
21.16%$0.03031306
30.79%$2.36
20.78%$5.34
17.63%$3,548.46
9.72%$3,858.80
10.36%$0.03583197
25.54%$0.00017926
22.57%$0.99983
0.40%$118.32
23.62%$13.23
12.84%$0.03854498
29.41%$3,620.65
11.10%$1.78
26.60%$0.02819031
12.73%$18.97
11.48%$0.02879856
32.13%$98,186.00
6.70%$1,676.08
11.61%$0.598215
25.47%$3.33
0.05%$0.391491
20.31%$0.999603
0.17%$1.36
24.62%$1.38
12.79%$0.234952
23.05%$97,982.00
6.20%$0.137562
25.18%$11.30
11.32%$4.62
20.91%$0.858093
20.63%$3,538.31
10.38%$7.12
17.14%$197.25
9.11%$37.07
16.04%$0.885213
18.18%$1.66
26.84%$0.753925
19.98%$0.078378
19.66%$0.502352
16.95%$17.28
19.46%$0.315431
23.89%$1.56
21.45%$56.10
17.08%$0.968906
26.55%$0.872743
26.16%$0.00000111
14.60%$240.41
9.09%$1.15
18.12%$14.82
17.33%$6.60
24.19%$36.80
23.63%$0.503538
21.10%$0.505058
20.02%$97,364.00
4.19%$0.890032
-8.39%$1.23
21.67%$5.37
28.74%$3,454.15
11.84%$97,567.00
5.78%$54.98
32.65%$0.00000219
10.30%$4.05
13.88%$3.11
11.66%$0.090489
21.18%$3.36
19.56%$0.728025
32.66%$0.287278
20.99%$0.168756
19.32%$0.812891
24.33%$0.645847
19.56%$3,443.48
10.46%$85.22
22.97%$205.32
9.09%$0.998384
0.44%$1.64
31.41%$2.51
20.73%$1.98
16.96%$0.795227
46.56%$2.15
15.45%$3,441.02
10.88%$0.0000365
16.50%$22.34
21.27%$1.57
21.47%$0.00704374
27.46%$0.00827075
18.56%$268.60
16.23%$0.336935
25.98%$0.187328
23.22%$0.783293
23.38%$0.0066946
19.34%$0.684656
15.52%$97,095.00
8.11%$0.668643
23.96%$5.92
21.11%$2,629.70
1.17%$0.995288
0.19%$0.00
33.32%$3,618.56
10.04%$0.01175187
26.84%$0.00011402
24.29%$2.54
22.56%$3,726.12
10.11%$0.008851
25.36%$19.81
28.44%$1.26
0.75%$0.086738
20.59%$0.00655026
24.87%$27.69
17.83%$0.278386
18.15%$1.12
22.86%$3,441.47
10.32%$11.14
19.44%$0.408048
20.49%$1.36
29.79%$0.554273
41.67%$1.35
27.83%$0.077496
4.83%$14.61
33.45%$98,177.00
5.91%$1.019
0.08%$0.999674
0.08%$0.00000053
9.85%$2,626.11
1.18%$0.054298
45.13%$32.83
29.88%$1.56
17.87%$0.01141232
23.73%$97,302.00
6.30%$3,437.87
10.39%$8.79
-16.17%$3,445.09
10.39%$5.02
17.94%$1.001
0.09%$0.458632
22.19%$0.00657431
39.70%$0.062997
18.64%$38.69
21.28%$0.300894
78.91%$0.067496
17.41%$0.00256736
24.74%$0.00660295
19.85%$0.00582702
24.63%$97,892.00
5.91%$2.15
20.46%$3,602.42
10.60%$3,696.67
10.32%$0.0010593
23.30%$1.06
-1.07%$0.02235666
24.28%$3.29
14.00%$26.81
58.04%$0.236359
25.56%$0.074177
13.35%$0.00000335
26.82%$0.486794
18.59%$5.27
6.69%$0.998739
1.89%$0.217487
20.27%$1.077
-0.35%$88.78
4.25%$2.58
23.80%$0.999586
0.16%$0.698202
22.17%$3,801.79
10.21%$0.00000018
16.41%$0.03890075
12.92%$3.05
13.31%$3.53
21.03%$0.144957
13.74%$0.908534
11.50%$47.79
20.02%$0.03748075
21.90%$0.763034
30.54%$0.0110494
22.35%$0.369993
17.23%$1.003
0.58%$0.366904
21.50%$0.363542
67.53%$3,441.14
10.31%
Transaction volume on the Ethereum blockchain reached $119.5 billion in Q3 2020, surging by nearly 1,200% compared to the previous quarter, according to DappRadar’s industry report published today.
DappRadar 2020 Q3 #Dapp Industry Report is out!
We're covering the performance of 13 #blockchains listed on DappRadar.
- The activity across the dapp ecosystem has grown by 115%.
- Total transaction volumes reached $125B in Q3 2020.
Read our Q3 #report https://t.co/ryyKTl5OLf
— DappRadar (@DappRadar) October 2, 2020
Per the report, Ethereum’s transaction volume amounted to “only” $10.2 billion just a few months ago—in Q2 2020. Such a sharp increase became possible mostly thanks to the ongoing decentralized finance (DeFi) craze that keeps attracting yield farmers.
Among the 13 blockchains listed on DappRadar, Ethereum accounted for 96% of the total transaction volume, retaining its mantle of the biggest network by far. At the same time, the DeFi ecosystem was responsible for 99% of those figures.
“We spot that the DeFi ecosystem is not only the number one category but also holds 99% of the value within the Ethereum blockchain in Q3 2020,” DappRadar noted.
As Decrypt reported, the DeFi boom led to a major drawback as transaction fees keep growing rapidly. Over the past couple of months, Ethereum miners have been regularly setting new records in terms of their profits, successively earning $500,000, $800,000, even $1 million per hour in transaction fees alone. In September, miners even earned more from transaction fees than from block rewards—for the first time in Ethereum’s history.
But that doesn’t seem to bother the DeFi train. After all, people flock to yield farming to make more money on their funds, so high transaction fees are part of the spiel. But overblown fees began to choke other decentralized apps (dapps) besides DeFi, DappRadar noted.
“In Q2 2020 we witnessed a tremendous drop [in the Games category] and the trend has continued into Q3 2020. The reason behind it is still high Ethereum gas prices and looking at the prevailing trends of the DeFi ecosystem, it doesn’t look like that situation is going to change anytime soon,” said the report.
Apart from gaming, marketplaces, collectibles, gambling and other dapps are also struggling with high transaction fees, although some of them are slowly but surely joining the DeFi hype, DappRadar added.
So, not only is all of DeFi pretty much on Ethereum—but all of Ethereum is now DeFi too.
