Dapp has published a new report analysing the performance of the decentralized finance market in the first quarter of 2020.
The analysis, titled “Quarterly Dapp Market Report Q1 2020” was published on the official website dapp.com and among other things reveals that in the first three months of 2020 the trading volume on DeFi dApps increased by more than 50%.
In particular, it exceeded $11 billion overall, of which $8.68 billion on DEXs alone, up more than 50% since last quarter.
At the same time, however, there was a decrease in the release of new dApps: there were only 92, the lowest number of new dApps launched in a quarter since 2019.
Another interesting figure is the average number of daily active users. In fact, at the top of this ranking there is the TRON blockchain, with 21,606 users, equal to 33% of the total daily active users on the 6 blockchains analyzed, while Ethereum stops at 20,994.
The number of active users on EOS has instead decreased by 50%.
These numbers are still very small, especially if compared for example to the average number of users active daily on centralized exchanges, although when comparing the volumes traded it is assumed that they are not entry-level users, namely investors or traders predominantly professional or otherwise experienced.
As for the trading volumes on the Ethereum blockchain, only 7.3% of those generated by dApps are generated by the native ETH token, while everything else is generated by ERC-20 tokens, such as DAI, USDT, USDC, WETH and others.
Again, these numbers are far lower than those of centralized exchanges, for example, but they are still significantly higher than in the recent past.
The distance to be covered is still extremely large, but the pace of growth suggests that it could be shortened. However, while centralized crypto finance is becoming increasingly accessible even to a less experienced public, decentralized finance still seems to be only a small, fast-growing niche.