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Bitcoin, Ethereum, DeFi & Global Finance News – September 6th 2020

96% of transactions in the DeFi segment are on the Ethereum blockchain
CONTENT

  • DappRadar Releases Third Quarter DeFi Ecosystem Report

  • Ethereum accounts for 96% of total transaction volume

  • Explosive growth of DeFi in the reporting period driven by interest in profitable farming

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96% of transactions in the DeFi segment ...

DappRadar Report Shows Almost All Decentralized Finance Transactions Are Ethereum

A report from the DappRadar analytics platform, which tracks decentralized projects across various blockchains, showed that in the third quarter of this year, the volume of transactions in the decentralized finance market reached $ 125 billion, an increase of $ 113 billion from the second quarter, with 96% of transactions being on the Ethereum blockchain..

The report also states that the total locked value in Ethereum smart contracts has surpassed the $ 10 billion mark, with Uniswap, MakerDAO and Curve at the top. On Sunday, October 11, DeFi’s Total Locked Value Decentralized Finance (DeFi) is a blockchain-based financial service that offers users access to open, efficient and … More smart contracts reached $ 10.82 billion, not further, as in June, it was about $ 1 billion.

Statistics confirm that the Ethereum blockchain dominates the decentralized finance market, and other blockchains, which, although trying to catch up with the main competitor, are still very far from the leader..

96% of transactions in the DeFi segment ...

Ethereum is also among the leaders in the number of daily active wallets, their number exceeds 57%. In Q3, Tron and EOS had 35% and 5% active wallets, respectively. Over the last day, according to DappRadar, there were about 17 thousand active wallets.

The report notes that the main contributors to the Ethereum protocol in Q3 were Uniswap, Sushiswap, Balancer and Compound, which generated 56% of active wallets on the Ethereum blockchain..

The EOS protocol accelerated growth in the third quarter. Defibox, Dmd.Finance and DeFis Network have generated over 4300 daily active wallets.

In the case of decentralized applications on the Tron, JUST, Zethyr Finance, Sun and SharkTron blockchain, 32 thousand active wallets were recorded during the reporting period.

The main reason for such a large-scale increase in interest in the segment of decentralized finance in the third quarter is profitable farming. Cryptocurrencies, as an alternative financial instrument, open up additional earning opportunities for users. Decentralized finance (DeFi) market participants decided to take advantage of this feature …. More, which includes protocols that issue additional tokens for users in order to maintain loyalty.

The DappRadar report shows that the explosive growth in profitable farming has been driven by the Compound protocol. In the first half of June alone, the volume of transactions on this decentralized lending protocol reached $ 4 billion.

The growth of decentralized exchanges Uniswap and SushiSwap also accelerated the DeFi market. In September, after the release of the UNI token, the Uniswap project raised $ 33 billion (60% of the total transaction volume in the DeFi market).

Decentralized apps DeFi also made huge money in the third quarter, generating $ 59 million, with the bulk of the $ 33 million coming from Uniswap..

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96% of transactions in the DeFi segment ...

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