A recent DappRadar analysis revealed a 124% growth in Unique Active Wallets (UAW) and increased user activity in the blockchain space.
This increase demonstrates how decentralized applications (DApps) are becoming more and more popular. The rise is being led by platforms like Near, Klaytn, and Arbitrum; Near has grown by an astounding 1,902%. Well-known DApps with a large user base include Uniswap V3, SuperWalk, and KAI-CHING.
Conversely, a number of issues led to a decrease in user involvement on platforms such as Harmony, Solana, and Hive. In 2022, a bridge exploit had an impact on Harmony, and Solana’s difficulties were partially related to its affiliation with FTX. The decline of Hive was brought on by financial issues.
Furthermore, the NFT market saw a noteworthy 166% growth, closely followed by a 112% increase in decentralized finance (DeFi) applications. Usage of social media apps powered by protocols like Lens Protocol, Friend, and Galxe increased by 29% as well.
The average number of UAW who interact with web3 apps every day has increased to 4.2 million, which is double what it was a year ago. This pattern emphasizes how blockchain networks are becoming more and more important in the digital ecosystem and how they have the power to change how people interact online.
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