Arbitrum

Solana

DappRadar

Hive

Galxe

According to a report by DappRadar released on January 11th, unique active wallets (UAW) interacting with Web3 applications have surged by 124% in 2023. Leading blockchains like Near, Klaytn, and Arbitrum have shown significant growth, while Harmony, <a href="https://en.bitcoinhaber.net/solanas-rise-as-a-strong-competitor-to-ethereum-and-the-excitement-around-saga-phones" rel="noopener noreferrer nofollow">Solana</a>, and Hive experienced declines in user numbers.
UAWs, indicating the number of wallets engaging with decentralized applications (DApps) within a specific timeframe, have doubled compared to the previous year, with an average of 4.2 million UAWs daily. Non-fungible tokens (NFTs) led the growth with a 166% increase, followed by decentralized finance (DeFi) with a 112% rise. Social media applications like Friend tech, Lens Protocol, and Galxe contributed to a 29% increase through leading Web3 protocols.
Near, Klaytn, and Arbitrum networks recorded the highest growth rates among all blockchain networks, with Near at 1,902%, Klaytn at 1,099%, and Arbitrum at 624%. Top DApps on these networks included loyalty rewards platform KAI-CHING, fitness app SuperWalk, and decentralized exchange Uniswap V3.
Harmony, Solana, and Hive were among the biggest losers in terms of user base, with UAWs dropping by 96%, 76%, and 68% respectively. Harmony’s decline was linked to a bridge exploit in June 2022 and its inability to recover in the following year. Solana faced challenges due to its association with FTX but managed an impressive recovery in the final months of 2023, minimizing losses for the year.
Hive’s user loss may have resulted from missing financial targets and reporting significant losses. Despite this, Hive Network hosts Splinterlands, the 11th top Web3 game by UAW. The report also highlights increased blockchain activity throughout the year, with Stars Arena driving over 10,000 UAWs to the Arbitrum network in October, and Ethereum generating over $54.3 million in transaction fees in a single week in November.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/web3-applications-surge-with-124-increase-in-active-wallets-in-2023" rel="noopener noreferrer nofollow">Web3 Applications Surge with 124% Increase in Active Wallets in 2023</a></h5>

Web3 Applications Surge with 124% Increase in Active Wallets in 2023

BH NEWS

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