Crypto Users Betting on EOS and Tron: Report Shows Mass Exodus From Ethereum
A new report from data analytics and digital asset research firm Diar says decentralized applications (DApps) on EOS and Tron are powering far more dollar-for-dollar transaction value than Ethereum. According to the research, EOS and Tron DApps account for 94% of the US dollar volume across the three blockchains.
The research, which cites data from DappRadar, indicates that rising DApp numbers on EOS and Tron are due largely to gambling DApps utilizing the two relatively new blockchain networks.
“Of the $5.5Bn already transacted on EOS, 70% go towards gambling DApps. This number is over 95% for Tron.”
“Gambling Dapps only account for a tiny 2% of total US Dollar transaction volume on Ethereum despite nearly half of the applications being betting spots. The overwhelming majority of trading went towards trading on DEX – and even that now faces a continuous adoption downfall.”
Diar says the rise of gambling DApps on EOS and Tron is unlikely to threaten Ethereum in the long run. Overall on-chain transactions on the Ethereum network are at an all-time high.
“It’s unlikely that this poses a long-term development threat, however, with major cryptocurrency institutions having backed financial projects already geared for Ethereum.”
You can check out the full report from Diar here.