Ethereum’s DeFi Domination: Understanding the Size and Role of Ethereum’s Largest dApps

Ethereum Leads dApp Volume

Source: DappRadar. The distribution of dApp volume over different blockchains.

What is driving the Dapp Transaction Volume?

Source: Glassnode. A chart showing the 7-day moving average of new addresses on Ethereum’s Network. The black rectangle represents 2018 bull run, while the DeFi Summer is represented in red.
Source: Glassnode. The number of new Bitcoin addresses, from inception to present date.

Bitcoin Adoption Is Good for the Entire Ecosystem

Source: Glassnode. Total addresses for Bitcoin (pink), Ethereum (Green), and Litecoin.
Source: Dune Analytics. Number of tokenised Bitcoin on Ethereum.

DeFi holds the Most Valuable DApps

Source: DappRadar. The distribution of incoming volume over each dApp sub-sector over the last year; DeFi (blue) and DEXs (green).
Source: DappRadar. DeFi Volume compared to other dApps.

DeFi Has Presented a Multitude of Investment Opportunities

Source: DeFi Pulse. Total Value locked (TVL) on DeFi dApps.
Source: Dune Analytics. Total number of DeFi users, from inception to present day.
Source: Dune Analytics. The total outstanding loans on DeFi. Reformatted into a table by ByteTree.
Source: Dune Analytics. Current outstanding loans on the top three DeFi projects. Reformatted into a table by ByteTree.
Source: ONS. Internet sales as a percentage of total retail sales.

Ethereum has Great Promise, but a Long way to go

Source: Glassnode. The graph shows the mean gas price per transaction (blue), plotted alongside the price of Ethereum.




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Applied data for digital asset investors. ByteTree provides real-time data, fundamentals, technical and deep blockchain market analysis for Bitcoin, and more.