Crypto-Powered Brave Browser Has Nearly 5 Million Daily Active Users

  • Brave Browser announced reaching 13.9 monthly active users and 4.8 million daily active users in April. 
  • The privacy-focused platform allows users to earn Basic Attention Token for viewing selective ads. 

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The cryptocurrency-powered Brave browser has reached nearly 5 million active daily users, as the platform continues to witness month-over-month increases in volume. 

According to a tweet published Brave co-founder and CEO Brendan Eich, Brave Browser hit 13.9 million monthly active users (MAU) and 4.8 million daily active users (DAU) for April. 

The open-source web browser was up from 13.5 million MAU and 4.3 million DAU in March, signaling an 11% increase in its daily user base. 

Eich, who publishes regular monthly stats as part of the project’s ongoing commitment to transparency, noted the trend in DAU had continued into May. 

Brave, which operates as a free web browser with built-in ad-blocking, relies upon the cryptocurrency brave attention coin (BAT) to drive its creator marketplace. Browser users are able to earn BAT for watching privacy-respecting advertisements and contributes the coins towards supporting their favorite content. 

In addition, Brave boasts being able to load web pages “3x to 6x” faster when compared to Chrome and Firefox. 

Featured Image Credit: Photo via Pixabay.com

Ethereum Was Behind 85% of Dapps' $12 Billion Volume in Q2 2020

The total transaction volumes of decentralized applications (dapps) in the cryptocurrency space hit $12 billion in the second quarter of this year, rising by $4.5 billion compared to the first quarter. Etheruem dapps accounted for 85% of the volume.

According to DappRadar’s Industry Review report, there are more than 70,000 active wallets across 13 different blockchains interacting with the cryptocurrency space. The top blockchains were EOS, TRON, and Ethereum, with the latter representing $10.2 billion of the $12 billion volume seen in Q2.

Ethereum’s large transaction volume was partly fuelled by Compound and the launch of the COMP token, which led to a “yield farming” trend, in which users were interacting with the protocol as much as possible to receive COMP tokens. Compound saw $1.2 billion move through it.

The yield farming trend saw Ethereum gas prices and transaction fees increase, which according to the report did not stop Ethereum dapps from thriving in general. It did, however, contribute to an 80% drop quarter-on-quarter for ETH gaming dapps, as high gas prices are “killing” their activities on the cryptocurrency’s network.

Despite Ethereum’s growth, EOS and TRON (TRX) dapps have also seen their activity increase in the second quarter of the year. According to the report in only three months, TRON’s transaction volumes on decentralized applications surged by over 17,200%.

The rise was largely attributed to Oikos.cash, a TRON-based version of the Compound lending protocol.  While TRON’s DeFi growth has been notably, DappRadar pointed out that most dapps on its blockchain are still in the “gambling” and “high risk” categories.

The EOS blockchain has still been enduring the effects of the EIDOS token airdrop, which put the network into “congestion mode.” The airdrop clogged the network and as a result, from 2019 to 2020 wallet activity on decentralized applications dropped 53%.

So far this year, $1.9 billion have been transacted on decentralized applications using the EOS blockchain, thanks to two dapps: Crypto Dynasty and Upland. DappRadar’s report also shows that two other blockchains are growing thanks to gambling dapps: WAX and ThunderCore.

Featured image via Pixabay.