Ether (ETH) volumes on decentralized applications (DApps) have registered a new high, but new DApps coming on-chain are significantly low, crypto analytics firm Diar reported on May 6.
The volume of ether transacted in April on DApps broke the previous record which was set last December by a small margin. This, Diar notes, marks a four-month growth trend in on-chain volumes, with 776,000 ETH transacted.
Diar further notes that this year is the longest growth period in terms of transacted volume that DApps have ever seen. Almost $132 million transacted on DApps are marking a four-month in a row growth and an eight-month high.
Monthly DApp volumes. Sources: Dar
At the same time, the amount of new DApps deployed on-chain is at a low, which nearly reflects 2017 levels, with 88 new DApps being deployed. Diar wrote, “Last month wraps up a continuous declining trend in deployment since September 2018, bar a flurry of new DApps that went on-chain at the end of last year, which marked the peak of development to date.”
In late April, Ethereum co-founder Vitalik Buterin proposed a higher staking reward for the upcoming proof-of-stake (PoS) algorithm implementation on the Ethereum blockchain. Per the proposal, 2,097,152 ether per year would be issued when 134,217,728 ether is staked and validating transactions, resulting in an annual return for stakers of 1.56%.
Cointelegraph recently reported that, in April, on-chain transactions on the bitcoin (BTC) network also hit fresh highs not seen since 2017.