Record Surge: Dapps Usage Soars 70% in Q3!

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Dapps Surge to New Heights in Q3 2024

Decentralized applications (dApps) have experienced a remarkable 70% surge in daily unique active wallets (UAW), reaching an all-time high of 17.2 million in the third quarter of 2024. This growth reflects a significant shift towards innovative technologies, particularly within the AI sector, which has seen substantial user engagement.

The report from DappRadar highlights that AI-related dApps averaged nearly 4.3 million UAWs, showcasing a quarterly growth of 71%. Key players like DIN and Alaya AI are driving this trend, indicating a growing excitement around integrating AI with blockchain technology.

Gaming Sector Faces Decline

Shifts in User Activity Among dApps

While gaming remains the most popular category for user activity within dApps, its market share has slightly decreased from 28% to 26%. This decline suggests users may be exploring more innovative applications such as social platforms and AI-driven solutions.

Notably, Toncoin-based HOT Game led as the most active dApp with 1.64 million UAW, while Ronin’s Pixels was among the top five gaming titles with 656,000 UAW. The social dApp sector also gained traction, capturing 19% of total activity, driven by CARV’s impressive performance.

DeFi Ecosystem Trends

Decentralized Exchanges Show Resilience

Despite an overall slump of 12% in total value locked (TVL) within the DeFi ecosystem—dropping to nearly $133 billion—decentralized exchanges (DEX) like Raydium and Uniswap have thrived due to increased memecoin trading activities.

Raydium recorded approximately 1.18 million daily UAW, while Uniswap achieved around 459,000 daily UAW across both V2 and V3 versions during this period. Jupiter Exchange also contributed significantly by registering about 216,000 daily UAW, marking it as one of the top DeFi applications by user engagement.

In Retrospect

The surge in decentralized application usage signals a transformative phase for blockchain technology as it integrates more deeply with artificial intelligence and other innovative sectors. As users continue to explore diverse functionalities beyond traditional gaming experiences, we can expect further evolution within this dynamic landscape.

Reference

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• DappRadar’s Q3 Report on Decentralized Applications
• CryptoSlate Article on Dapps Surge
• DappRadar Overview on Daily Active Wallets