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    DappRadar’s 2023 Report Reveals a 124% Surge in Web3Users

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    In 2023, Web3 apps skyrocketed by 124%, with blockchain games leading the way with a 34% advantage. Non-fungible tokens (NFTs) and decentralized finance (DeFi) also surged, with TVL reaching $103 billion.

    According to a January 11 study by a blockchain analysis firm. dap radar, the number of unique active wallets (UAWs) interacting with Web3 apps increased by 124% in 2023. Harmony, Solana, and Hive saw a decline in user numbers, while Near, Klaytn, and Arbitrum saw the largest increases over the year.

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    UAW is a metric that quantifies the number of wallet interactions with a Web3 application (also known as a decentralized application (dApp)) over a period of time.

    Throughout the year, these apps were used by an average of 4.2 million UAWs per day, more than double the number from the previous year.

    Blockchain games lead

    By the end of the year, blockchain-powered games accounted for 34% of all dApp activity, with an average of 1.1 million UAW.

    Growth was also seen in the NFT collections and DeFi sectors, with new NFT wallets increasing by 166% and DeFi total value locked (TVL) increasing by 77% to $103 billion.

    The report also examines the performance patterns of several blockchain chains and identifies high- and low-performing chains.

    Furthermore, NFT adoption by game studios has also been joined by traditional businesses, fashion labels, and political organizations, with NFT sales increasing by 445%. The market was still dominated by the Blur and OpenSea platforms, with Pudgy Penguins bridging the gap between web3 and web2.

    Products containing non-fungible tokens (NFTs) experienced the greatest growth, increasing by 166% compared to 2022. Decentralized finance (DeFi) had his second-highest increase, increasing by 112%.

    Research shows that social media apps have increased by 29%. This is primarily due to “major protocols” such as Lens Protocol, Galxe, and Friend.tech.

    Among all blockchain networks, Near, Klaytn, and Arbitrum had the fastest growth rates. Near reported an increase of 1,902%, Klaytn 1,099% and Arbitrum 624%.

    Fitness app SuperWalk, decentralized marketplace Uniswap v3, and loyalty rewards platform Kai-Ching are some of the most popular dApps on these networks.

    some losses have occurred

    Throughout the year, Harmony, Solana, and Hive suffered the biggest losses. The UAW was down 96% in Harmony, 76% in Solana, and 68% in Hive. According to the investigation, Harmony's downfall was due to a bridge exploit in June 2022 and its failure to bounce back the following year.

    However, Solana faced similar issues as a result of partnering with FTX. Nevertheless, the report said Solana “saw an impressive recovery in the final months of 2023,” which allowed it to end the year with lower-than-normal losses.

    Additionally, Hive Network's user base may have declined as a result of it “failing to meet its financial goals and reporting significant losses.” According to DappRadar, Splinterlands, his 11th ranked Web3 game by the UAW, is hosted on his Hive network.

    This report provides further evidence that activity on blockchain networks has increased over the past year. In October, about 10,000 of his UAWs joined his Arbitrum network thanks to the social networking app Stars Arena. As a result of the sharp increase in the amount of transactions sent, the Ethereum network received approximately $54.3 million in fees in one week in November.

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