2024

bullish

DappRadar

Forefront

<h4>The recent Black Monday event had a worldwide impact. Economic and crypto markets took a hard hit. However, the recovery seems to be in full swing. There are plenty of bullish signals and events happening. So, keeping macro events out of the picture, the markets should do well.</h4> 
So, let’s take a closer look at this dApp industry <a href="https://dappradar.com/blog/ai-dapps-dominate-web3-industry-leading-with-28-activity-share" target="_blank" rel="noopener">report</a> by DappRadar. This is Part 1 of a two-part series. 
<h5>Dapp Industry Overview</h5> 
The dApp industry keeps doing well. For example, one indicator is the Unique Active Wallets (UAW). They went up by 78% which equals 15.9 million daily UAW (dAUW) compared to June. Gaming used to be the leading force in the dApp industry. However, its dominance dropped during July to 26%.&nbsp; 
The ‘Other’ category surpassed it with a 28% lead. This category has some AI-related dApps. For instance, <a href="https://www.aialaya.io/" target="_blank" rel="noopener">Alaya AI</a> or <a href="https://din.lol/" target="_blank" rel="noopener">DIN</a>. The ‘Social’ category also keeps growing. It currently has a 20% dominance. This translates to 3.1 million dAUW.&nbsp; 
The <a href="https://www.altcoinbuzz.io/category/nft/" target="_blank" rel="noopener">NFTs</a> category surpassed DeFi. NFTs saw a 67% activity increase and have a 15% dominance. DeFi only got up to 11%. Near, opBNB, Solana, and Base are the top chains. The picture below shows dominance by category. 
<figure id="attachment_147984" aria-describedby="caption-attachment-147984" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-147984 size-large" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-509-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-1024x649.jpg" alt="dApp industry" width="696" height="441" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-509-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-1024x649.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-509-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-300x190.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-509-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-768x487.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-509-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-663x420.jpg 663w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-509-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-696x441.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-509-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-1068x677.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-509-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_.jpg 1097w" sizes="(max-width: 696px) 100vw, 696px">
 <figcaption id="caption-attachment-147984" class="wp-caption-text">
 DappRadar industry report for July 2024
 </figcaption>
</figure> 
<h5>Social dApps on the Forefront</h5> 
The Social and <a href="https://www.altcoinbuzz.io/category/defi/" target="_blank" rel="noopener">DeFi</a> categories are the most popular apps measured by dAUW. <a href="https://cosmose.ai/" target="_blank" rel="noopener">Kai-Ching</a> took the lead in June with a 28% increase or 17 million dAUWs. This dApp unlocks AI-powered shopping. <a href="https://revox.ai/" target="_blank" rel="noopener">Revox | ReadON</a> takes second spot. This is a decentralized content distribution platform. It saw a massive 208% increase, totaling 12 million dAUWs.&nbsp; 
The social dApps manage to involve their users actively. Hence, their high ranking. <a href="https://raydium.io/swap/?inputMint=sol&amp;outputMint=2ubuHGFS4VJVxSEpvV3kDwz6JiuXdaAoGMwrwYC87tp8" target="_blank" rel="noopener">Raydium</a>, the Solana-based DEX, takes spot 3. It went up by 66% which translates to 8.74 million dAUWs. See the picture below. 
<figure id="attachment_147983" aria-describedby="caption-attachment-147983" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-147983 size-full" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-510-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_.jpg" alt="dApp Industry" width="810" height="708" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-510-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_.jpg 810w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-510-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-300x262.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-510-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-768x671.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-510-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-481x420.jpg 481w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-510-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-696x608.jpg 696w" sizes="(max-width: 810px) 100vw, 810px">
 <figcaption id="caption-attachment-147983" class="wp-caption-text">
 DappRadar industry report for July 2024
 </figcaption>
</figure> 
<h5>DeFi’s TVL Is on Par with the Q1 2024 Levels</h5> 
DeFi’s TVL (Total Locked Value) keeps growing. Since the start of this year, it has seen a positive trend. So, July was no different. TVL peaked at $175 billion in July. That’s a 5% increase compared to June. This also matches the Q1-2024 closing value.&nbsp; 
The $ETH spot ETF launch and memecoin trading both have their share in reaching these numbers. However, Ethereum still has the first-mover advantage. As a result, it dominates this category by holding 66% of all TVL. Solana comes in second. 
L2s also keep doing well. Linea gets the thumbs up. It’s currently the 10th largest chain by TVL. Airdrop rumors keep fueling this narrative. Avalanche also made a surprise appearance. It digitized 42 million car titles of the California DMV (dept. of Motor Vehicles) on its chain. This shows a practical use case for Web3. The picture below shows the TVL over 1 year. 
<figure id="attachment_147982" aria-describedby="caption-attachment-147982" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-147982 size-large" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-511-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-1024x574.jpg" alt="dApp industry" width="696" height="390" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-511-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-1024x574.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-511-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-300x168.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-511-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-768x430.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-511-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-750x420.jpg 750w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-511-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-696x390.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-511-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-1068x598.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-511-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_.jpg 1255w" sizes="(max-width: 696px) 100vw, 696px">
 <figcaption id="caption-attachment-147982" class="wp-caption-text">
 DappRadar industry report for July 2024
 </figcaption>
</figure> 
This sums up Part 1 of this 2-Part series. Here is the <a href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/dappradars-july-2024-dapp-industry-report-part-2/" target="_blank" rel="noopener">second part</a>. 
<a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="alignnone wp-image-123700 size-full" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg" sizes="(max-width: 1197px) 100vw, 1197px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg 1197w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1068x132.jpg 1068w" alt="" width="1197" height="148"></a> 
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<h6>Disclaimer</h6> 
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The post <a href="https://www.altcoinbuzz.io/reviews/dapps/dappradars-july-2024-dapp-industry-report-part-1/">DappRadar’s July 2024 dApp Industry Report — Part 1</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

DappRadar’s July 2024 dApp Industry Report — Part 1

Altcoin Buzz

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