Dapps see 70% surge in usage to hit record activity levels during Q3

Dapps see 70% surge in usage to hit record activity levels during Q3
фото показано с : cryptoslate.com

2024-10-10 02:30

Decentralized applications (dApp) registered a significant 70% surge in daily unique active wallets (UAW) between the second and third quarters, reaching an all-time high of 17.2 million, according to DappRadar’s third-quarter report.

Applications tied to artificial intelligence (AI) emerged as the standout performers among the different sectors within the dApp industry last quarter, averaging nearly 4.3 million daily UAWs and experiencing 71% quarterly growth.

The report pointed out that data processing layer DIN and distributed AI data platform Alaya AI were key players driving the surge in usage in the AI sector.

Moreover, it was suggested that this trend highlights the growing excitement around AI technologies and their integration into the blockchain industry.

Gaming dominance dwindles

The gaming sector remains the most dominant in terms of user activity. However, its overall share of the dApp market has declined slightly, falling from 28% to 26% on a quarterly basis. The report noted that this could be users shifting to more innovative applications, such as AI and social platforms.

Toncoin-based gamified wallet HOT Game was the most active dApp, gathering 1.64 million UAW in the third quarter, while Ronin-based Pixels was the fifth largest dApp by usage, reaching 656,000 UAW and being the only pure gaming title among the five most used applications last quarter.

The social dApp sector captured 19% of all activity in the third quarter, with the modular data layer CARV exhibiting 1.24 million UAW and becoming the most active social dApp in the period.

DEX growth

The total value locked (TVL) in the DeFi ecosystem slumped 12% in the third quarter, leaving the over-$150 billion area to end September at nearly $133 billion.

The report highlighted that decentralized exchanges (DEX) Raydium and Uniswap witnessed substantial growth despite the falling TVL, particularly due to memecoin trading.

Solana-based Raydium registered 1.18 million daily UAW last quarter, while Uniswap recorded 459,000 daily UAW across V2 and V3 over the period.

Jupiter Exchange added to DEX activity in the third quarter, registering 216,000 daily UAW and becoming the third-largest DeFi application by user engagement.

The post Dapps see 70% surge in usage to hit record activity levels during Q3 appeared first on CryptoSlate.

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