DappRadar

Bitcoin

DeFi

Linea

Eden

<h4>Although Bitcoin is now 12% lower in price than in Q1-2024, the primary indicators and traffic show a thriving industry.</h4> 
Let us look at the Dapp industry. 
<h5>The Dapp Industry</h5> 
In Q2-2024, the Dapp sector saw massive <a href="https://dappradar.com/blog/dappradar-tracks-unique-active-wallets-but-what-does-that-mean" target="_blank" rel="noopener">unique active wallet</a> (UAW) transactions. The social sector experienced an increase of 66% more than the last quarter. It averaged over ten million daily unique active wallet addresses. This is due to the growing interest in Web3, with use cases like<a href="https://x.com/fantasy_top_?s=21" target="_blank" rel="noopener"> fantasy.top</a>, <a href="https://x.com/uxlinkofficial?s=21" target="_blank" rel="noopener">UXLINK</a>, and quests. 
The gaming sector dominates the dapp industry. Its share has fallen by 2% from the previous quarter, followed by the same decline in the DeFi sector. 
<img decoding="async" class="wp-image-145300 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxfbgfghfhyt-300x189.jpg" alt="" width="594" height="374" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxfbgfghfhyt-300x189.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxfbgfghfhyt.jpg 498w" sizes="(max-width: 594px) 100vw, 594px"> 
<h6 style="text-align: center;">Source: <a href="https://dappradar.com/blog/state-of-the-dapp-industry-q2-2024?__cf_chl_rt_tk=LuXwzr3.Byy_XEGepxG6ArpGLn110l_bTV4k.Epoqn0-1720152495-0.0.1.1-4926" target="_blank" rel="noopener">DappRadar</a></h6> 
<h5>DeFi TVL</h5> 
DeFi TVL in Q2-2024 is $168 billion. Ethereum led the way, reporting $120 billion in TVL. It was 9% higher than Q1 2024. In Q1-2024, there was a lot of hype around memecoin increasing Solana’s TVL, but in Q2-2024, the hype died down. Solana’s TVL in the Q2-2024 report displayed $9.6 billion. 
<ul> 
 <li><a href="https://x.com/trondao?s=21" target="_blank" rel="noopener">Tron</a> saw a decline, cutting its TVL to $8 billion due to regulatory concerns. The total value locked in arbitrum declined and stood at $4 billion, a 9% drop. Arbitrum, an L2 solution, lost a lot of market share to other L2 networks and competing Layer-1 chains.</li> 
 <li><a href="https://x.com/base?s=21" target="_blank" rel="noopener">Base</a> was one of the few tokens that could gain more, increasing its TVL by 44% to equal $1.9 billion. The chain’s innovative approach, community, and strategic partnerships were pivotal in its growth.</li> 
 <li><a href="https://x.com/lineabuild?s=21" target="_blank" rel="noopener">Linea’s</a> TVL soared and moved to $1 billion. The TVL surge is because of its involvement with Dapps and partnerships. The increase in user adoption was a result of airdrop farming. Linea remains one of the few Layer-2 solutions without its token.</li> 
</ul> 
<img decoding="async" class="wp-image-145301 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xcvfdfgdfgdg-300x167.jpg" alt="" width="614" height="342" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xcvfdfgdfgdg-300x167.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/xcvfdfgdfgdg.jpg 494w" sizes="(max-width: 614px) 100vw, 614px"> 
<h6 style="text-align: center;">Source: <a href="https://dappradar.com/blog/state-of-the-dapp-industry-q2-2024?__cf_chl_rt_tk=LuXwzr3.Byy_XEGepxG6ArpGLn110l_bTV4k.Epoqn0-1720152495-0.0.1.1-4926" target="_blank" rel="noopener">DappRadar</a></h6> 
Of all the DeFi Dapps, <a href="https://www.altcoinbuzz.io/?s=Raydium" target="_blank" rel="noopener">Raydium</a> and Uniswap V3 had the largest turn-up based on unique active wallets (UAW). This resulted from an increase in memecoin trading activity. 
<h5>NFTs</h5> 
In the second quarter of the year 2024, most <a href="https://www.altcoinbuzz.io/?s=NFTs" target="_blank" rel="noopener">NFTs</a> have continued to stay firm. The analysis by DappRadar highlighted that Q1-2024 was one of the best quarters since Q1-2023. 
But, Q2 2024 numbers are even higher. NFTs generated $4 billion in trading, which was up 3.7%. The quantity of sold NFTs increased by 28%, reaching 14. 9 million. 
<img decoding="async" class="wp-image-145302 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/cxzfdgfhghj-300x165.jpg" alt="" width="619" height="341" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/cxzfdgfhghj-300x165.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/cxzfdgfhghj.jpg 495w" sizes="(max-width: 619px) 100vw, 619px"> 
<h6 style="text-align: center;">Source: <a href="https://dappradar.com/blog/state-of-the-dapp-industry-q2-2024?__cf_chl_rt_tk=LuXwzr3.Byy_XEGepxG6ArpGLn110l_bTV4k.Epoqn0-1720152495-0.0.1.1-4926" target="_blank" rel="noopener">DappRadar</a></h6> 
<h5>NFT Marketplace&nbsp;</h5> 
Analyzing the NFT marketplace share, <a href="https://x.com/blur_io?s=21" target="_blank" rel="noopener">Blur</a> remains the market leader with 31% of the market share. It experienced a 50% decrease from the previous quarter. 
<a href="https://x.com/magiceden?s=21" target="_blank" rel="noopener">Magic Eden</a> follows, experiencing success with <a href="https://www.altcoinbuzz.io/?s=ordinals" target="_blank" rel="noopener">Ordinals</a> and increasing its dominance from 17% to 22%. <a href="https://x.com/opensea?s=21" target="_blank" rel="noopener">OpenSea</a> ranks third in trading volume and dominance but is the most dominant NFT marketplace by sales, with a 12% market share. 
<img decoding="async" class="wp-image-145304 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxvbcnhjggjhj-300x159.jpg" alt="" width="644" height="341" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxvbcnhjggjhj-300x159.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxvbcnhjggjhj.jpg 493w" sizes="(max-width: 644px) 100vw, 644px"> 
<h6 style="text-align: center;">Source: <a href="https://dappradar.com/blog/state-of-the-dapp-industry-q2-2024?__cf_chl_rt_tk=LuXwzr3.Byy_XEGepxG6ArpGLn110l_bTV4k.Epoqn0-1720152495-0.0.1.1-4926" target="_blank" rel="noopener">DappRadar</a></h6> 
<h5>The Largest Collections by Trading Volume</h5> 
Three of the 5 NFT collections by trade volume this quarter are like Q1, with <a href="https://x.com/runestone_shop?s=21">Runestone</a> and<a href="https://x.com/fantasy_top_?s=21"> fantasy.top</a> taking the place of others. Two of these collections are popular in the second quarter of 2024. 
<img decoding="async" class="wp-image-145306 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxbgghnhghg-300x160.jpg" alt="" width="654" height="349" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxbgghnhghg-300x160.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxbgghnhghg.jpg 487w" sizes="(max-width: 654px) 100vw, 654px"> 
In the second part of this article, you will discover more insights that you must be aware of. 
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<h6>Disclaimer</h6> 
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. 
The post <a href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/dappradar-report-state-of-the-dapp-industry-q2-2024-part-1/">DappRadar Report: State Of The Dapp Industry Q2-2024 – Part 1</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

DappRadar Report: State Of The Dapp Industry Q2-2024 – Part 1

Altcoin Buzz

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