Diar Report: Ethereum dApp Transactions Reach New Highs But Trending Downwards
The number of transactions of decentralized applications (dApps) on the Ethereum (ETH) network has reached a new all-time high in April 2019. According to a recent report released by Diar, Ethereum dApp transactions reached 776,000 ETH. However, there is a problem: the number of new dApps deployed on the Ethereum blockchain fell to a 15-month low.
Diar explains that almost $132 million were transacted using decentralized applications, specifically related to Decentralized Exchanges (DEX). Gambling applications are also growing, reaching a new 8-month high. Compared to march, that represents a 46 percent increase.
Although Ethereum remains the main platform to release decentralized applications with 60% of the newly deployed dApps, they are currently reaching the lowest point since 2017. Diar informs that April closed with just 88 dApps being deployed on its network.
Moreover, developer interest has hardly decreased. As per the report, the Truffle Framework, that became a very important tool for programmers that want to build on top of Ethereum (ETH), has registered a new record in the number of downloads after a sustained growth quarter-on-quarter.
In April, Vitalik Buterin, the co-founder of Ethereum, proposed higher staking reward for the upcoming proof-of-stake (PoS) algorithm implementation on the Ethereum network. Stakers would have an annual return of around 1.56%.
Ethereum is not the only network registering all-time highs in the number of transactions. Bitcoin (BTC) is also close to reaching a new all-time high in the number of transactions processed by the network. On May 2nd, Bitcoin registered the second largest number of transactions since its all-time high in December 2017.
At the time of writing, Ethereum has a market capitalization of $18.35 billion. As the second largest digital currency in the market, Ethereum is currently traded around $173.