Tron Is Beating Ethereum Activity Thanks to Gambling and Wash Trading, Says Report

Tron Is Beating Ethereum Activity Thanks to Gambling and Wash Trading, Says Report

September 30, 2020

Key Takeaways

  • Tron led Ethereum and EOS as the number one dApp platform Q3 2020 thanks to suspicious activities. 
  • Despite high fees, Ethereum has continued to project organic growth. 
  • The growth rate of activity on platforms like WAX, Steem, and Waves was greater than EOS. 

Share this article

The rise of DeFi and decentralized exchanges (DEXes) has helped Ethereum outshine other smart contract platforms, while the continuation of past activities keeps Tron and EOS on the outs.

Tron Leads Ethereum Thanks to “High-Risk” Apps

DeFi, exchange, and marketplace categories drove the activity on Ethereum, with daily active wallets surging by 150% compared to Q2. 

The massive spike at the beginning of September is attributed to the UNI token launch on Uniswap. The activity on the decentralized exchange (DEX) space grew by 376% during the quarter.  

Another notable trend in the last quarter has been the rising activity on the digital marketplaces for NFT tokens, growing by 475% in the quarter. Rarible marketplace and its RARI tokens took the lead.

Tron has led Ethereum and EOS concerning network activity after the launch of Tron 4.0 in July. However, unlike Ethereum, the growth in Tron is dominated by dApps in the “high-risk” category, including gambling applications. 

Nonetheless, Tron’s DeFi and DEX ecosystem grew significantly. However, data has revealed signs of wash trading on that front as well. 

EOS has been running last among the three, with only 34% growth network activity, year-to-date.

 The founding team behind EOS has dedicated all of their resources towards the social media platform, Voice. Since the platform’s launch last year, the project has failed to get much traction while simultaneously preventing EOS from enjoying any fruits from the DeFi boom this summer.  The daily activity on EOS during Q3 was down 27% since last year. 

The overall competition is driving the growth of the entire dApp ecosystem with over 200,000 active wallets daily, surging by 115% in Q3 2020. 

Furthermore, the renewed attention towards smart contract platforms is pushing other contenders into the space. WAX, Waves, and Steem, along with decentralized wallets like ThunderCore, led the rise in the number of active users, according to the report. 

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Source: Read Full Article