Ethereum dropped to fourth for active dapp users last month

Ethereum is now fourth place for number of active dapp users, and this image shows the lead is disappearing because it features a very short ladder.

Ethereum — historically the number one blockchain for dapp users — dropped to fourth place last month, according to DappRadar.

Rivals WAX, Binance Smart Chain (BSC), and Flow now boast more active dapp users than Ethereum.

BSC, an Ethereum Virtual Machine clone, knocked Ethereum from the top spot in early February. However, WAX has since surpassed BSC for active users.

Entertainment blockchain WAX reportedly contributed around half of all dapp users last month, making it the number one dapp network.

Ethereum (dark blue) is now in fourth place for active user count.
  • Yield farming game Alien Worlds was largely responsible for WAX’s activity in April.
  • Second place BSC saw its users grow 61% over the month, propelled by DEX PancakeSwap.
  • Flow sits in third place. NBA Topshot contributed 99.9% of Flow’s onchain activity.

Over the whole month, the number of daily active dapp users across all blockchains rose 158% to clear one million.

Dapp users, schmap users

Ethereum has retained its crown in one area: Total Value Locked (TVL) in DeFi apps. Ethereum’s TVL exceeded $70 billion in April.

However, DappRadar noted BSC’s faster growth rate. BSC’s TVL swelled 126% to $40 billion compared to Ethereum’s 27%.

DeFi and dapp users aside, NFT trading volume fell 21% from March. The drop in activity comes despite high-profile sales by Edward Snowden and a few of the rarer CryptoPunks.

This graphic isn't about dapp users, but it's about NFT sales in April. Edward Snowden number one!
Graphic courtesy of DappRadar.

[Read More: eBay says it’s open to crypto — it said the same about Bitcoin in 2014]

Mostly, DappRadar chalked the drop up to technical mishaps on Flow’s NBA TopShot.

The firm found glitches caused TopShot transaction volume to plummet by more than 60% in April ($217 million to $83 million).

Prefer to listen to your news? The Protos Podcast delivers the week’s top stories every Friday.

Was this article interesting? Share it