DappRadar

2023: Closing with 4.2 Million Daily UAW – A Bullish Signal for 2024In 2023, the dapp industry surpassed all expectations, and reinforced the notion that it’s an enduring and evolving part of the global financial and technological landscape. As one of the longest bear markets in history finally ended, it left behind soaring inflation, rising interest rates, geopolitical conflicts, while facing numerous challenges in every front. With this Dapp Industry Report 2023 we invite you to explore the data for all verticals of the dapp industry, and glimpse into what 2024 and future beyond will bring.Key Takeaways<ul><li>The Dapp Industry witnessed a 124% YoY increase in its Unique Active Wallets (UAW), closing 2023 with 4.2 million daily UAW.</li><li>NFT collections have gained increased interest, as the number of new wallets trading and using these assets increased 166%.</li><li>Blockchain-powered games continue to lead the charge in terms of dapp activity, recording a yearly dominance of 34% with an average of 1.1 million UAW by year’s end.</li><li>Near, Klaytn, and Arbitrum stood out as the chains with the highest growth in new user wallet creation, each seeing increases exceeding 600% year-over-year. On the other hand, Harmony, Solana, and Hive experienced a notable dip in user interest.</li><li>DappRadar approved 2,985 new dapps this year; Alien Worlds emerged as the most viewed dapp on our website.</li><li>The Total Value Locked (TVL) in DeFi surged by 77% this year, reaching $103 billion, with Ethereum commanding a dominant 57% share. Solana, Arbitrum, and Optimism were the top gainers by TVL growth; 503%, 136%, and 68%, respectively.</li><li>PancakeSwap led the way in the DeFi space, becoming the most used dapp in 2023 with over 860,000 monthly UAW.</li><li>NFTs have become a lot cheaper throughout 2023, and therefore the trading volume dropped 49% to $12.6 billion. However, the number of NFTs sold increased 445% to 60 million.</li><li>Blur leads in NFT trading volume with a 56% yearly dominance, while OpenSea maintains the highest trader count, with an average of 280,000 traders per month.</li><li>The year saw a significant drop in financial losses due to hacks and exploits, decreasing by 96% to $1.9 billion. However, the frequency of these incidents rose by 17.3%.</li></ul>Read the full report &#x1f449; <a href="https://dappradar.com/blog/dapp-industry-report-2023-defi-nft-web3-games?utm_source&#61;coinmarketcap&amp;utm_medium&#61;social&amp;utm_campaign&#61;2023report" rel="noopener noreferrer nofollow">HERE</a>

Dapp Industry Report 2023

DappRadar

Other articles published on Jan 11, 2024

Industry Leaders React to Bitcoin ETF Approval as SEC Commissioners Differ…What Did They Say?

WisdomTree Bitcoin Fund (BTCW) Makes History in First Wave of Bitcoin ETFs with Anticipated Launc...

First Spot Bitcoin ETFs Approved in the US Begin Trading

Top Cryptocurrencies To Invest In For January

Seeking Insights from Google Bard: The Trajectory of Lido DAO and Borroe Finance Prices

Top 8 Crypto Trends That Will Dominate The Market In 2024: Analyst

Join our free newsletter for daily crypto updates!