DappRadar’s Latest Report Finds 883% Year-On-Year Increase in Daily Unique Wallets, Exploding NFT Industry Market Cap

Blockchain, News | September 6, 2021 By:

DappRadar, the Lithuania-founded, global app store for decentralized applications (dApps), has released its latest report on the dapps industry.

In this report, DappRadar analyzes the current state of play in the dapps industry, providing financial metrics, distribution metrics, and detailed social and technical overviews.

Some key highlights from the report include:

  • The dapp industry registered more than 2 million daily unique wallets during August, an 18.14% increase from the previous month and a 883% increase year-on-year.

  • BSC is the most used network in the entire industry, with over 1 million unique active wallets. WAX comes second with 581,500 unique users. Both networks are driven by gaming dapps supported by the play-to-earn paradigm.

  • The NFT space exploded in August, surpassing $14.27 billion in market cap.

  • Axie Infinity and OpenSea ($355 million and $78 million respectively) generated $433 million in revenues during August alone, and collectively represent 87% of Ethereum’s total revenue.

  • The DeFi ecosystem’s TVL reached $142 billion, whereas 70% of it is still concentrated on the Ethereum network. Avalanche and Solana made a solid entry with more than $5 billion locked.

  • The usage in Ethereum is shifting towards NFTs, DeFi’s unique active users decreased by 17% whilst unique users interacting with NFTs increased by 202%.

The full report can be found here: https://dappradar.com/blog/dapp-industry-overview-august-2021