web3 apps surged 124% in 2023

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In 2023, web3 noticed a 124% surge in Distinctive Energetic Wallets, with Close to, Klaytn, and Arbitrum main development, whereas others declined.

In a latest report by blockchain analytics platform DappRadar on January 11, 2024, the web3 panorama witnessed substantial development, with a 124% improve in Distinctive Energetic Wallets (UAW) participating with decentralized functions (DApps) all through 2023.

The information spotlighted Near, Klaytn, and Arbitrum because the frontrunners in development, whereas Concord, Solana, and Hive skilled declines in person engagement.

DappRadar: web3 apps surged 124% in 2023 - 1

On common, 4.2 million UAW interacted every day with web3 apps, doubling the earlier yr’s figures. Nonfungible token (NFT) merchandise dominated development, boasting a 166% improve, adopted by defi with a 112% surge. Social media apps, buoyed by main protocols like Friend.tech, Lens Protocol, and Galxe, reported a 29% acquire.

Close to, Klaytn, and Arbitrum emerged because the standout performers, exhibiting development charges of 1,902%, 1,099%, and 624%, respectively. Key DApps on these networks, similar to KAI-CHING, SuperWalk, and Uniswap V3, contributed considerably to their success.

Top 10 blockchain by new wallets creation (UAW) in 2023

Conversely, Harmony, Solana, and Hive confronted setbacks, experiencing declines of 96%, 76%, and 68%, respectively. Concord’s struggles had been linked to a bridge exploit in June 2022, whereas Solana grappled with challenges tied to its affiliation with FTX.

The report acknowledged Solana’s spectacular restoration within the latter a part of 2023. Hive’s lack of customers was alleged to stem from lacking monetary targets and reporting vital losses.

General, the report underscores the vibrancy of blockchain networks, citing cases like Stars Enviornment driving 10,000 UAW to the Arbitrum community in October and Ethereum amassing over $54.3 million in charges in a single week in November.

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