The well-known blockchain/cryptocurrency data and research company Brave New Coin has recently presented a new analysis, which highlights a tendency to fall both in the prices of the EOS cryptocurrency, as in the transactions and activity of decentralized applications within of the network.

The report explained that cryptocurrency exchange volumes have dropped dramatically in the last eight months, especially since the announcement of the launch of its new social Voice platform, on June 1, all in the framework of the next hard fork of the EOSIO blockchain, scheduled for September 23.

This explains that the price has fallen by 84% since the historical maximum of April 2018, when it exceeded USD 21. According to the Brave New Coin table, the market capitalization of EOS is USD 3,720 million, with a trade volume of USD 824 million in the last 24 hours. The digital asset occupies the eighth place, under tether (USDT).

EOS transaction volume

Similar to what the CoinMarketCap statistics show, it is highlighted that the volume of EOS exchange in the last 24 hours has been led mainly by the tether pair (USD) and the bitcoin (BTC) and ether (ETH) pairs, these represent a smaller but substantial percentage.

In that sense, the analysis reports that the EOS/USD and EOS/BTC pairs have fallen more than 60%. This is despite the fact that the network has grown to more than 4 terabytes (TB) in the last year, with an estimated five block producers (BP) running a complete archive node.

It is estimated that currently the number of total transactions per day in the EOSIO blockchain, estimated at almost 5 million, is decreasing. In the researchers’ opinion, this calculation can be exaggerated, since they think that the number of real transactions is possibly one-fifth of the 5 million reported. This taking into account that the costs of operations are free.

Brave New Coin explains that transactions increased at a daily rate since last year, a fact that could be related to the constant activity of Dapps. On average, these transactions could be USD 75, positioning below its highest peak at USD 38,000.

In addition, the number of monthly active addresses (MAA) is estimated at 52,000. A decrease of more than 45% compared to January of this year, when a maximum of almost 95,000 was achieved. However, the Brave New Coin team claims that although the MAA count is lower than in Bitcoin, Litecoin, Ethereum, Ethereum Classic, Stellar or Tron, it is higher than in Neo.

Brave New Coin explains that transactions increased at a daily rate since last year, a fact that could be related to the constant activity of Dapps. On average, these transactions could be USD 75, positioning below its highest peak at USD 38,000.

Dapps activity deficit

According to the report, the investigations carried out by AnChain.AI, in January 2019, show that although EOSIO was leading the activity of decentralized applications (with an estimated USD 1 billion in the first quarter of 2019), 51 % of all users are bots. These false users would execute 75% of the operations, which in turn represented USD 6 million of the daily volume of transactions at that time, as stated.

Analysts add that the volume of transactions in most Dapps has also decreased in recent months. They ensure that gambling and Dapps exchange are still the most used applications

EOSIO, owned by Block.one, is defined as a scalable and economical operating system, based on blockchain, that functions as a platform for smart contracts and decentralized applications. Its consensus system is based on the regular selection of a list of 21 BP, chosen by the EOS.io token holders. However, last June, the departure of EOS NY as a block producer and the degradation by the Weiss rating agency raised doubts about a possible centralization of the project.

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