Analytics company DappRadar published State of the Web3 Industry Q2 2024 Report. It is estimated that the number of unique active wallets (UAW) on Web3 has reached a record 10 million per day. At the same time, the growth in the number of users of Web3 applications amounted to 40% in three months.
The report says that the main catalyst for the increase in user activity was the token airdrop distributions held during this period. However, the UAW growth trend can be volatile, as projects rarely manage to sufficiently incentivize users to stay active after airdrops are over.
Analysts also note that almost all sectors of decentralized applications (dApps) showed significant growth in the 2nd quarter. Of these, the social dapps sector grew the most, by 66%, reaching almost 2 million daily UAWs.
Despite the increase in the number of users, the total value locked (TVL) in the DeFi sector decreased by 4% compared to the previous quarter, amounting to $168 billion.
Losses from hacker attacks and exploits amounted to $430 million, which is 5% more than in the previous quarter. The biggest hacker attack of the quarter was the theft of $305 million from the Japanese DMM Bitcoin exchange.
The NFT market had its best quarter since the beginning of 2023, with trading volume of $4 billion and 14.9 million sales. NFT platform Blur remains the leader with 31% of the market, Magic Eden increased its share from 17% to 22%. OpenSea leads in terms of sales with 12% of the market.
Decentralized exchanges have also shown significant growth in the number of active users. The number of Uniswap users increased by 80%, and Raydium users – by 134%. Analysts attribute the growing trend of DEX users to the increase in memcoin transactions on these platforms.
We will remind you that May 2024 was marked by a rapid increase in investments in Web3 and blockchain — 152 projects from this field attracted a total of $1.08 billion.
