Over the past few weeks, the price of Ethereum has expanded by more than one-third up to this month, but it seems like the price is stuck. Let’s check on the latest ethereum news to find out what happened.
The data from Dapp.com shows that the second-largest cryptocurrency has suffered a lot in the Q1 of this year since many users are leaving the network for other rival platforms. If all of the users would stay on the Ethereum blockchain, the price of the cryptocurrency could eventually reach its full potential.
Ethereum is still one of the largest blockchains and has plenty of other reasons to be the leader in the dApp race. Many new platforms showed up such as EOS, Steem, and Tron and by the gathered data it seems that ETH is still leading. The data shows that most of the 500 dApps that were added to Dapp.com were built on Ethereum. The report reads:
“It shows that Ethereum is still the No.1 choice for developers to build their dApp on.’’
The gamers are one of the most popular categories for the decentralized apps but not all of the users stay on the network. Ethereum reached a 4 percent decrease over the year in the number of active Dapp users. In 2018 about 7 percent of the users remained using the Ethereum blockchain in 2019. Gamers still remain the most loyal category.
Multicoin Capital CEO Kyle Samani stated:
“The simple reality is that until the last six-to-nine months, there were no other options besides Ethereum. Now there are.”
Also, Travis Kling, a crypto hedge fund trader noted that the price of ETH is still at risk of being heavily impacted by other blockchains ‘’gain traction’’ among users and developers.
According to Dapp.com, it turns out that EOS is leading on the active usage category since about 95 percent of the dapps were active. Tron and Steem have about 80 percent active dapps and Etherum has nearly 600 dApps in inactive status.
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