In a recent DappRadar report, the blockchain sector showed a rise in user participation, with a 124% increase in Unique Active Wallets (UAW).
This growth highlights the rising popularity of decentralized applications (DApps). Platforms like Near, Klaytn, and Arbitrum are leading the growth, with Near growing by an impressive 1,902%. Popular DApps such as KAI-CHING, SuperWalk, and Uniswap V3 are credited for attracting a wide user base.
Conversely, platforms like Harmony, Solana, and Hive experienced declines in user engagement due to various challenges. Harmony was affected by a bridge exploit in 2022, while Solana’s struggles were partly linked to its association with FTX. Hive’s downturn was due to financial shortcomings.
Additionally, the NFT market saw a notable 166% growth, with decentralized finance (DeFi) applications following closely with a 112% increase. Social media applications underpinned by protocols like Friend, Lens Protocol, and Galxe also saw a 29% increase in usage.
Daily interactions with web3 apps have doubled from the previous year, reaching an average of 4.2 million UAW daily. This trend underscores the expanding influence of blockchain networks in the digital ecosystem and their potential to reshape digital interactions.
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