DApps on Ethereum reached 1 million users

Yesterday DappRadar published its report where it found that the top 10 decentralized applications (DApps) on the Ethereum Blockchain reached an average of 1 million users during the last month.

The most popular DApps accumulate users

This is a very interesting finding given that over 94% of daily active wallets on the Ethereum Blockchain are attributed to decentralized applications (DApps).

In this way, DApps on Ethereum reached an average of 1,017,760 daily active users during the last month.

According to DappRadar, “It is not surprising that 6 of the top 10 DApps are from the DeFi & Exchange categories, 2 high risk, a Marketplace and one from the Gaming category.”

DappRadar states that it is not surprising because precisely this data comes when the interest in decentralized finance (DeFi) received a second boost.

TOP decentralized applications

The top DApps are mainly comprised of “DeFi & Exchange” and “High Risk” category applications. However, even so, the market for non-fungible tokens and a gaming app made its way into the top 10.

The top 3 are made up of, a DeFi platform, Uniswap, and Compound. Each of them is responsible for attracting more than half a million, 276,000 and 141,000 users a day respectively.

Meanwhile, the apps that ranked lower have between 10,000 and 30,000 daily users, which means that DeFi platforms are still the main Ethereum applications.

However, we must keep in mind that the Dune Analytics data suggests that an individual user in DeFi can have multiple addresses and interact with multiple DApps during a month.

Consequently, it is difficult to accurately estimate the number of actual users taking into account that small detail.

What is certain is that, although we thought that the DeFi bubble had burst when the active addresses collapsed, so it was not. The crypto community claims that what burst was the Sushiswap and Uniswap bubble.

“The interest and ease of use of DeFi features for retail users has become clearer and it can be argued that Ethereum finally has the killer DApps to give new and old users a tangible way to use their tokens,” they concluded researchers.

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