Blockchain analysts Diar looked at three competing platforms supporting dApps to find out how much dollar value each process, finding a mass exodus away from Ethereum to EOS and Tron, most of which was related to gambling.
The King Has Lost His Crown
Ethereum spent quite some time topping the Decentralised Application (DApp) tree, primarily due to lack of any real competition. However, the two newcomers to the space are looking to unseat the incumbent smart contracts platform, eating away at its market share.
Although Ethereum 00 processed over $7.6 billion on-chain through dApps in 2018, the introduction of EOS and Tron saw figures tumble.
January 2019 has seen EOS dApps account for a whopping 55% of transaction values, while Tron took 38%. This has left Ethereum with a measly 6% of US dollar volume, between the three platforms.
Take A Chance On Me
The key demographic which has led this charge away from Ethereum has been gamblers. Of the $5.5 billion transacted on EOS dApps since launch, 70% has been spent on betting dApps.
The figure for Tron is even more extreme, with 95% of transaction volume used for gambling.
In contrast, only 2% of USD volume on Ethereum goes towards gambling, despite 47% of available dApps being betting related. The vast majority of Ethereum dApp value goes towards trading on Decentralise Exchanges (DEX). However, Diar notes that DEX volumes have also seen a steady decline since the middle of last year.