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Ethereum's top 10 DApp users surpassed 1 million this month

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This may be largely due to the boom in DeFi.

BlockBeats, over the past 30 days, ethereum's top 10 most popular DAPPS have more than 1 million active users.

According to analytics platform DappRadar, the decentralised etherean-based app has attracted more than 1 million active users in the past 30 days. This milestone comes at a time of renewed interest in DeFi, with an 11% increase in the number of users during the first half of November.

Of the 10 Dapps, six offer DeFi and trading platform services, with a combined trading volume of more than $21 billion over the past 30 days.

The top three DApps: DeFi Swap, Uniswap and Compound accounted for the largest share, with more than 930,000 users. DeFi Swap has about 510,000 users, Uniswap 270,000 and Compound 140,000. None of the other seven DAPP had more than 30,000 users in a month.

However, according to Dune Analytics, a single DeFi user may have multiple addresses in a month and interact with multiple Dapps on multiple occasions, so it is difficult to accurately estimate the actual number of users from these figures. According to the website, the cumulative total of unique wallet addresses for DeFi users is 900,000.

DeFi DApps is more likely to see fluctuations in user Numbers as their activities are influenced by speculative market sentiment. Other categories, such as game DApps, are less likely to be affected by price fluctuations.

Last October, when the number of daily activity addresses dropped from a peak of 176,000 to less than 20,000 in a matter of weeks, according to analytics platform Coin Metrics, the DeFi bubble finally seemed to burst. It turned out, however, that it was not the DeFi bubble but the Sushiswap and Uniswap bubbles that burst. In the past three months, the number of active addresses has barely changed after these items were removed.

DeFi Daily Event addresses (excluding Sushi and Uni). Source: Coinmetrics

The total number of active users of Ethereum has been rising this year, reaching a 33-month high last month. According to data from Glassnode Studio, an analytics platform, the number of active addresses rose from a low of below 2.8 million in January to 5.9 million in October.

While DApp on Ethereum continues to grow, the top one million active users last month accounted for less than 20 per cent of the total number of active addresses in October, suggesting that the DApp ecosystem still has the potential for continued growth.