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Do ETH price changes affect dapps activity?

Posted by
Skirmantas Januškas

Yes, no… probably.

More than 4 months since the launch of DappRadar have passed. Looking at the data day by day is our job and this is the question that often popped up: Do ETH price changes affect dapps activity?

Below you can see the graph that contains ethereum dapps’ users and ether price comparison. We are not aiming to compare exact values but rather ups and downs.

Data from DappRadar.com

Looking at how close the graph lines are, we can say that ETH price does really have impact on dapps activity. ETH Price goes up — global ethereum dapps ecosystem has more daily users. And vice versa.

But!

The whole majority of the dapps activity nowadays belong to decentralized token exchanges. Below is the graph comparing only exchanges’ users and ETH price. The trend is obvious.

Two biggest exchanges’ data used: ForkDelta and IDEX

Decentralized games comes with a different story. There are barely any enjoyable games so far built on ethereum blockchain. The huge spike on the December of 2018 is the moment when CryptoKitties got the hype.

Only CryptoKitties, Etheremon and Ether Online dapps data was used (3 most popular games)

What does it mean?

Token exchanges get more activity when the ETH price raises and less activity when price goes down. Meanwhile games are completely on their own. You just need to come up with a really playable game with good user experience or a superb idea and it is going to moon!

Keep in mind that this is only my personal opinion. You think that’s wrong? Share your opinion in comments!

Visit DappRadar.com to explore the dapps ecosystem.

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