TRON Beats ETH Activity Thanks To Wash Trading, Report Says

TRON beats ETH activity thanks to wash trading and high-risk apps according to the latest reports that we have in our TRON crypto news.

TRON beats ETH and EOS as the number one Dapp platform for the third quarter of the year to suspicious activities as per the report. Despite the higher fees, ETH continued to project the organic growth and the rate of activity on platforms like Steem, WAX, and waves was greater than EOS. The rise of Defi and decentralized exchanges helped ETH outshine other smart contract platforms while the continuation of the past activities is keeping TRON and EOS on the outs.

All of the Defi and marketplace categories drove the activity on Ethereum with the daily active wallets surging to 150% compared to the previous quarter. The massive spike at the start of September is attributed to the UNI token launch on Uniswap and the activity on the decentralized exchange space increased by 376% during the quarter. Another notable trend in the last quarter was the increase in activity on the digital marketplaces for NFT tokens that grew by 475%. Rarible marketplaces and the RARI tokens took the lead.

Tron led ETH and EOS concerning the network activity after the launch of TRON 4.0 in July. However, unlike Ethereum, the growth of the TRON network is dominated by dapps that are high-risk categories including gambling applications. Tron’s DeFi and DEX ecosystems grew dramatically but the data revealed signs of wash trading as well. EOS was the last out of the three with only 34% growth of the network activity year to date.

The founding team behind EOS, Block.one dedicated all of their resources to the social media platform Voice and since the launch this year, the project failed to get a lot of attention while preventing EOS from enjoying the benefits of the Defi boom this summer. The daily activity on EOS during Q3 got down by 27% since last year.

The overall competition only boosts the growth of the entire dapp ecosystem with more than 200,000 active wallets per day which surged by 115% in Q3 of this year. Furthermore, the renewed attention to the smart contracts platform is pushing some of the other contenders into space. Waves, Steem, and WAX along with other decentralized wallets such as ThunderCore, led the increase in the number of active users according to the latest reports.