DappRadar, the ranking and tracking site for decentralized apps (dapps) on the EOS blockchain has added a new feature which now monitors the volumes of both EOS as well as tokens developed on the EOS platform, Decrypt reports.
According to DappRadar, other sites that tracks the volumes of the EOS crypto do not track the value created by the trading of tokens which are not native to the blockchain such as tokens which are traded on decentralized exchanges or ones that are used in game currency.
DappRaddar claims that the phenomenon presents about 25% of volume into the EOS blockchain which goes unaccounted. As per today’s total trading volume which is $12 million, whereby, $9 million represents the EOS while $3 million is for other EOS based tokens.
According to DappRadar’s brand communication manager, Jon Jordan,, this represents an underestimation of the EOS ecosystem by about $1 billion. To arrive at the figure, Jordan multiplied $3 million by 365.
Jordan also explained that DappRadar will henceforth rank EOS dapps as per the total volume of the entire EOS-backed tokens going through smart contracts. He explained:
“This will greatly increase the transparency of value creation on the EOS blockchain, especially for decentralized exchanges that support the trading of EOS-based tokens.”
The latest announcement comes as a major boost for decentralized exchanges within the EOS platform that trade more tokens other than EOS. Prior to the new update, DappRadar realized that Newdex exchange had about $1.8 million worth of EOS trading volume every day but after the update, the value surged by a further $1.6 million worth of trading volume per day.
DappRadar also gave another example of Wild-West game Prospectors that utilizes an EOS-based Prospectus Gold (PGL) that was not present for ranking. The addition of the token brought about $3000 worth of extra trading volume every day.
In due course, DappRadar says it is planning to launch the new feature in Ethereum as well as other blockchains.
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