DappRadar, a global store for Dapps, has released its latest quarterly blockchain industry report.
Some key highlights from the report include:
The blockchain industry grew 25% quarter-over-quarter and 509% year-over-year in terms of Unique Active Wallets, reaching 1.54 million daily UAW on average during Q3.
The NFT market cap for the top 100 Ethereum collections + NBA Top Shots is estimated at $14.19 billion, supporting the value flow into NFTs.
Games continue to drive usage within the industry, with UAW connecting to game dapps increasing 140% quarter-over-quarter, while DeFi and NFT connected wallets decreased by 11% and 2%, respectively, from the previous quarter; nonetheless, usage is positive in all categories as compared with August.
Splinterlands became one of the most played dapps in the industry; The Hive increased its usage by a staggering 1,376% quarter-over-quarter, reaching 238,000 daily UAW on average during September.
Axie Infinity keeps shattering records, becoming the most traded NFT collection ever by surpassing $2 billion in historical trading volume.
The NFT space generated $10.67 billion in trading volume during Q3 — an increase of 704% from the previous quarter; Ethereum and Ronin respectively accounted for 77.73% and 19.53% of this volume.
The DeFi space is getting competitive with Terra, Solana and Avalanche consolidating as DeFi players; the TVL in the industry rose 53.45% quarter-over-quarter to reach $178.12 billion.
The full report can be found here: https://dappradar.com/
Commenting on the findings of the report, Skirmantas Januškas, CEO and co-founder of DappRadar said:
“The blockchain industry saw quite some results in the past quarter — 25% UAW growth is no mean feat. But it’s the developments, the attitudes changing, the new trends emerging in those three short months that really scream “dapps got game”.
“It’s your NFTs getting greater utility, your Snoop Doggs buying into metaverses, your governments looking to tax play-to-earn, your institutional-grade DeFi products, your Bloombergs talking crypto like it’s everyday business…
“So much has happened on so many levels that as we wrap Q3, I have that crisp sense of exhilaration of having climbed atop a mountain to look over the landscape mapped ahead. Don’t mind the market slump, this industry is on a roll.”
Additionally, Head of Finance & Research at DappRadar, Modesta Jurgeleviciene, said:
“If I were to sum up Q3 in a single word, it would be “diversification”. The play-to-earn movement became a key driver in the space, NFTs turned towards greater utility and secured record volumes, and the DeFi space got a lot more interesting and competitive with the likes of Solana and Terra.
“With diversification come more use cases, and with more use cases comes greater adoption. The industry is branching out. More than just a basket assets within a portfolio, crypto is beginning to infiltrate everyday life.”
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