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At DappRadar, we track the number of daily active wallets and transaction volume. These data provide us with a window into the performance of each blockchain and category.
Note: The transaction amount represents all comprehensive activities in the smart contract.
Active NFT and market categories are currently concentrated on Ethereum and WAX blockchains. However, activity is still driven by a few dapps, so reporting unprecedented growth in these two categories in the third quarter is crucial.
NFT Market: Source: DappRadar
In the third quarter of 2020, in the NFT and market categories, Ethereum and WAX accounted for almost 100% of the daily active wallet and transaction volume.
Ethereum is the blockchain with the largest total transaction volume in the third quarter of 2020.
Ethereum generated 96% and 92% of NFT and market category transaction volumes, respectively.
The dapps running on the Ethereum blockchain that contribute the most to activity and transaction volume are CryptoPunks and Rarible.
GoPepe and AtomicMarket are the biggest contributors to the active surge in the WAX protocol.
Ethereum’s NFT transaction volume exceeds $2 million.
Compared with the second quarter of 2020, the daily active wallets of the Ethereum NFT category increased by 350% in the third quarter of 2020. In terms of transaction volume, compared with the second quarter of 2020, this category has grown by 57% in the third quarter of 2020. The dapp behind the growth is cryptopunk.
In the third quarter of 2020, cryptopunk ranked first in terms of daily active wallets and transaction volume. The dapp generated a transaction volume of 2.24 million USD, accounting for 96% of the total transaction volume.
The transaction volume of the Ethereum market category hit a record high, reaching US$20 million.
Due to the high price of fuel, the market category of Ethereum faces similar challenges as the game category. However, the number of daily active wallets and transaction volume in the market category has increased.
By the end of the third quarter of 2020, the market category has grown dramatically, exceeding 2,000 wallets per day.
The main reason for this increase in daily activity is dapp. By the end of the third quarter of 2020, Rarible ranked first with 1,139 daily active wallets, Open Sea ranked second with 502, and Axie Marketplace ranked third with 341.
The transaction volume also showed a similar growth trend, increasing by 368%, reaching an all-time high of US$20 million.
Of course, half of the transaction volume generated comes from Rarible. The issuance of RARI governance tokens further proves the powerful influence of liquidity mining on the market.
In the third quarter of 2020, WAX accounted for 91% of daily active NFTs wallets.
As of the end of the third quarter of 2020, among the 2,146 daily active NFT wallets, WAX holds 1,958, accounting for 91%.
Compared with the second quarter of 2020, daily active wallets in the NFT category increased by 24,375%, transaction volume increased by 10,086%, and more than $90,000 in revenue was generated.
GoPepe is the main reason for the growth of the NFT category. It was released in mid-September and attracted a large number of users every day.
As of the end of the third quarter of 2020, GoPepe has more than 1,300 daily active wallets with a transaction volume of US$81,000. It accounts for 90% of the total transaction volume in this category.
Market category daily active wallets increased by 1,269%.
Although NFT flourishes on the WAX blockchain, market categories are equally important for promoting secondary sales and NFT activity. In the third quarter of 2020, daily active wallets and transactions have soared.
Compared with the second quarter of 2020, daily active wallets in this category increased by 1,269%, and transaction volume increased by 226%. There are 7 DAPPs in this category, of which AtomicMarket, Myth.Market and Collectables.io contribute the most.
In terms of daily active wallets and transaction volume, AtomicMarket contributed the most. By the end of the third quarter of 2020, there were more than 600 dapp daily active wallets, and the transaction volume reached 1.3 million US dollars.
Ethereum and WAX are the biggest contributors to the NFT and market categories.
In the NFT and market categories, Ethereum is the most important protocol.
Compared with the second quarter of 2020, WAX has pushed the number of daily active wallets to a new high. The number of daily active wallets in the WAX NFT category has increased by 24,375%, and transaction volume has increased by 10,086%.
Compared with the second quarter of 2020, the daily active wallets in the WAX market category increased by 1,269%, and the transaction volume increased by 226%.
Although, the active data of Ethereum and WAX are driven by individual dapps. But the industry firmly believes that NFT collectibles and the market will become the next great accelerator for industry growth.
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