dApp Transaction Volumes Hit New Highs in April

dApp Transaction Volumes Hit New Highs in April

April was an excellent month for Ethereum, as users of Ethereum-based decentralized applications (dApps) transacted a whopping 776,000 ether (ETH). This marks a new high in both ether and USD value, though the number of newly deployed dApps has also hit a 15-month low, according to a Diar report on May 6, 2019.

Higher Transactions, No New Trends

As stated in the latest Diar report, the total number of ether tokens transacted on Ethereum dApps in April 2019 surpassed the all-time-high of December 2018 by a tiny margin, setting a four-month growth trend in on-chain volume. At the same time, the number of new dApps has taken the opposite direction, crashing to a 15-month low.

Reportedly, 776k ether (about $132 million) was transacted on Ethereum-based decentralized exchanges (DEX) and decentralized gambling applications.

Notably, the report has also revealed that the Ethereum dApp transaction volumes represent a 46 percent increase and a massive 186 percent when compared to volumes seen at the beginning of 2019 when they hit an all-time low.

While user activity is steadily increasing on existing Ethereum dApps, Diar says new projects are not going on-chain, even though Ethereum is arguably the platform of choice for developers.

Specifically, only 88 new decentralized applications were deployed on the network, hitting the lowest level since the start of 2018 when the entire crypto markets went through a severe “recession.”

“April wraps up a continuous declining trend in deployment since September 2018, bar a flurry of new dApps that got launched at the end of 2018 which marked the highest point of development to date,” declared Diar.

Although blockchains like TRON (TRX), IOST, and others are working to attract devs to their platforms, Diar says developers’ interest in Ethereum is still very high. Truffle Framework downloads, for instance, have hit an all-time high in 2019, “with sustained quarter-on-quarter growth.”

With other blockchains continually raising the bar, Diar says developers are exploring alternatives, as demonstrated by the impending migration of Aragon from Ethereum to Polkadot.

Published at Wed, 08 May 2019 00:02:32 +0000