After adding ERC20 token tracking for all Ethereum dapps, data aggregator DappRadar uncovered $73 million in unaccounted for 7-day volume on the network.
As the biggest and most dominant dapp platform, Etherum has been at the forefront of dapp development in the past couple of years, attributing over 60 percent of dapp trading volume on the market.
It turns out that Ethereum might be an even bigger player than previous data has suggested, as a new way of tracking showed that there are billions in unaccounted volume on the network.
According to dapp data aggregator DappRadar, from now on ETH dapps will be ranked on the total volume of all ETH-based ERC20 tokens passing through their smart contracts.
In a press release shared with CryptoSlate, the company said DappRadar was the only company doing this and that a similar feature is currently live on EOS.ETH dapp volume could reach $4 billion annually.
Skirmantas Januskas, the co-founder and CEO of DappRadar, said that the new way of measuring dapp volume would increase the transparency of value creation on the Ethereum blockchain.
DappRadar found that decentralized exchange ForkDelta, which previously showed a 7-day ETH volume of $778,000, had an additional $16.8 million worth of weekly transaction volume on Nov. 19.
This is just one example of previously unaccounted for trading volume.
The company said adding a new tracking metric increased the 7-day trading volume on Ethereum from $27 million to just over $100 million.
Just under $40 million in volume came from decentralized crypto exchanges on the network, while gambling brought in just $311,000 in volume.
DappRadar uncovers over $73 million in unaccounted Ethereum DApp volume
gepubliceerd op Nov 20, 2019
by Cryptoslate | gepubliceerd op Coinage
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