logo

DeFi transaction volume: ETH accounts for 96 percent

crypto ban

A recent report by the DappRadar team has shown that the bulk of DeFi transaction volume happens on the Ethereum platform which holds over 90% of the transaction being carried out on all other blockchains.

According to the report, the Ethereum network dominates the DeFi space with 96% of the transaction being done on the platform.

The report stated that the bulk of the transaction on the Ethereum platform happens using the Uniswap (UNI), MarkerDAO (MKR) and Curve Finance (CRV) tokens. 

The establishment of the uniswap governance token, UNI also helped increase the popularity and the usage of the platform.

DeFi transaction volume expected to decrease on Eth platform

The DappRadar report highlighted that there could be new entrants into the market of the DeFi arena which would contend massively with the DeFi transaction volume that is dominated presently by Ethereum, Tron and EOS.

Protocols like IOST, Ontology and NEO have seen an increase in their daily activity as they experienced a surge of upto 357%, 1,589%, and 840% respectively.

Kamsi King

Kamsi King

King Kamsi is a fintech and digital currency writer and enthusiast. He is keenly interested in blockchain and cryptocurrency and their global adoption. When not busy with writing, he can be found hobnobbing in forums with the best minds in crypto, both developers and startup founders.

Related News

Hot Stories

Tips to Choose the Best Crypto Trading Bot
Watch: Inside the Walmart Metaverse 2022
Dubai’s Future Blockchain Summit to create global business opportunities for crypto, metaverse innovators
Fazzaco Expo Dubai 2022 - A Leading B2B & B2C Gathering for the Global Fintech Industry
Quant price analysis: QNT/USD is gearing to retest $112 support as bearish momentum increases

Follow Us

Industry News

Watch: Inside the Walmart Metaverse 2022
Why should Africa foster blockchain in an emergent economy?
Are bearish runs healthy for the crypto market?
All you need to know about Soulbound Tokens (SBT)
What's at the Heart of the 3air Platform?