DappRadar

The past week saw the crypto market valuation crash, erasing $40 billion due to US regulatory unrest, with Bitcoin and Ethereum showing resilience amidst a 30% altcoin value decline. This analytical piece delves into the factors contributing to this downturn and the subsequent impact on the dapp industry. Key Takeaways<ul><li>The recent regulatory FUD has substantially shaken the cryptocurrency market, driving its capitalization below $1 trillion.</li><li>The dapp industry holds strong, boasting 1.6 million unique active wallets as of 14 June.</li><li>Despite a 7.45% decrease in Bitcoin’s price, there’s been a significant rise in unique addresses (113) that have a balance of over 10,000 Bitcoin.</li><li>The first half of 2023 saw a significant shift in stablecoin dynamics with USDT supply increasing by $16.7 billion, while USDC supply decreased by $14 billion.</li><li>Flow (FLOW) and Chilliz (CHZ), hit hardest by the legal turmoil, witnessed severe losses of 41.60% and 40% respectively, sinking to over 95% below their all-time highs.</li><li>Uniswap maintained a high volume of $16.68 billion over the past seven days, with a notable shift of users converting WETH into USDC or USDT, accounting for 38.45% and 12.72% of the platform’s volume respectively.</li></ul>Read the full report &#x1f449; <a href="https://dappradar.com/blog/web3-resilient-against-us-crypto-regulations-with-1-6-million-daily-active-wallets" rel="noopener noreferrer nofollow">HERE</a> &#x1f448;

Web3 Resilient Against US Crypto Regulations with 1.6 Million Daily Active Wallets

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