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A new DappRadar report reveals that one sector of the digital asset industry remains resilient even as the extended crypto winter continues to weigh on the market.
In a new report, a market intelligence platform says decentralized applications (DApps) have shown “resilience and maturity” in the face of a number of events that have dragged down the entire industry.
According to the report, DApps saw a notable increase in the number of unique active wallets, increasing from an average of 1.58 million last year to an average of 2.37 million this year.
“The DApp (decentralized application) industry saw a 50% increase in Unique Active Wallets (dUAW) in 2022…
However, due to the civil war in Ukraine, the collapse of Terra Luna, the FTX situation, etc., the industry is shrinking. Despite these challenges, the DApp industry has shown resilience and maturity, and consumer and enterprise adoption of blockchain technology suggests a bright future for the industry. ”
DappRadar also found that Ethereum (ETH) will remain the top decentralized financial protocol in 2022 amid a cryptocurrency bear market, with the BNB chain regaining second place.
“Ethereum is still the dominant DeFi protocol with a TVL of $32.12 billion [total value locked], a reduction of 74.56%. The BNB chain regained its position as the second largest DeFi ecosystem, down 62.50% to reach $6.5 billion. ”
The analytics firm recorded a significant increase in activity related to non-fungible tokens (NFTs) compared to last year. The data shows that while trading volume increased only modestly by 0.41% this year, the number of unique NFT traders will grow by a staggering 876.89% from 2021, with NFT sales of 10.16 in 2022. % increased.
You can read the full report here.
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Featured image: Shutterstock/LongQuattro/jamesteohart
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