DappRadar: Resiliency And Maturity Amid Extended Bear Winter

Key Points:

• The number of unique active wallets for DApps increased from 1.58 million in 2021 to 2.37 million this year.
• Ethereum (ETH) remained the leading decentralized financial system in 2022.
• The number of NFT traders increased by 876.89% in 2021, while the number of NFT sales increased by 10.16% in 2022.

According to a recent DappRadar research, one area of the digital asset market is able to withstand the ongoing market pressure caused by the prolonged crypto winter.

According to a recent analysis from the market intelligence platform, decentralized apps (DApps) are displaying resilience and maturity in the face of multiple events that have pulled down the sector overall.

The number of unique active wallets for DApps increased noticeably this year, from an average of 1.58 million last year to 2.37 million this year, according to the research.

The dapp (decentralized application) industry experienced a 50% increase in unique active wallets (dUAW) in 2022, rising from an average of 1.58 million daily dUAW in 2021 to 2.37 million in 2022 on average. However, the industry has been on a downward trend due to various events, including the war in Ukraine, the collapse of Terra Luna and the FTX situation. Despite these challenges, the dapp industry has demonstrated its resilience and maturity, while adoption of blockchain technology by consumers and businesses suggests that the future of the industry is bright.

Additionally, according to DappRadar, despite the crypto bad market, Ethereum (ETH) remained the leading decentralized financial system in 2022, with BNB Chain reclaiming the second position.

Ethereum remains the dominant DeFi protocol with $32.12 billion in TVL [total value locked], a 74.56% reduction. BNB Chain has reclaimed its position as the second-largest DeFi ecosystem, with a 62.50% decrease, reaching $6.5 billion.

The analytics company noted a significant rise in non-fungible token (NFT) activity from the previous year. The data reveals that despite this year’s trading volume only slightly increasing (0.41%), the number of unique NFT traders increased by an astounding 876.89% in 2021 and the number of NFT sales increased by 10.16% in 2022.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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