A recent report by blockchain analytics platform DappRadar paints a vibrant picture of the web3 landscape in 2023, showcasing a remarkable 124% surge in Unique Active Wallets (UAW) engaging with decentralized applications (DApps). This surge translated into an average of 4.2 million UAW interacting daily with web3 apps, doubling the previous year’s figures.
While the overall growth is encouraging, the report highlights the differential performance of various blockchain networks. NEAR, Klaytn, and Arbitrum emerged as the frontrunners, experiencing phenomenal growth rates of 1,902%, 1,099%, and 624%, respectively. These networks were propelled by the success of key DApps like KAI-CHING, SuperWalk, and Uniswap V3.
On the other hand, Harmony, Solana, and Hive encountered setbacks, with user engagement declining by 96%, 76%, and 68%, respectively. Harmony’s struggles were attributed to a bridge exploit in June 2022, while Solana’s challenges stemmed from issues related to its association with FTX.
Despite these challenges, the report acknowledges Solana’s impressive recovery in the latter part of 2023. Hive’s loss of users was speculated to be linked to missed financial targets and significant losses.
The report emphasizes the resilience of the blockchain ecosystem, showcasing instances like Stars Arena driving 10,000 UAW to the Arbitrum network in October and Ethereum collecting over $54.3 million in fees in a single week in November.
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