DappRadar

NFT Sector’s Daily Unique Active Wallets Increased by 109% in Q3 2023As we navigate through 2023, the third quarter has unfolded with a subdued tempo, a trend often mirrored in economic cycles, particularly as many participants take seasonal breaks. Yet, even in these quieter times, there are glimmers suggesting that the current market downturn could be reaching its final stretch. In this report, we’ll traverse the intricate pathways of the Web3 landscape, highlighting the key sectors, their challenges, and the potential harbored within them. Key Takeaways<ul><li>The average number of daily Unique Active Wallets (dUAW) interacting with decentralized applications surged 15% from Q2 2023, reaching an average of 2.2 million dUAW.</li><li>Gaming’s market dominance dipped slightly from the previous quarter, while the NFT sector made its presence felt, growing at 12% of total industry activity.</li><li>DeFi’s Total Value Locked (TVL) witnessed a 7% decline, standing at $71.9 billion. Ethereum, though down by 11% in TVL, retained its leading position.</li><li>The DeFi landscape saw Base emerge as a significant player, quickly amassing a TVL of $378 million.</li><li>NFT market indicators, such as trading volume and sales count, hit an all-time low since Q1 2022, hinting at market shifts and changing interests.</li><li>Exploits and hacks within the dapp sector rose sharply, with a disconcerting 204% increase from Q2, resulting in losses amounting to $701 million. The Multichain breach alone accounted for $231 million in lost funds. </li></ul>Full report &#x1f449; <a href="https://dappradar.com/blog/state-of-the-dapp-industry-q3-2023?utm_source&#61;cmc&amp;utm_medium&#61;community&amp;utm_campaign&#61;report" rel="noopener noreferrer nofollow">here</a>

State of the Dapp Industry Q3 2023

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