According to a new industry report published by DappRadar, the number of daily users engaged in decentralized applications, or DApps, rose 396% year-on-year to 2.4 million, well below that of 2.4 million. Found in Q4 2021, only 5.8%
The overall growth is impressive. Considering that during the quarter Cryptocurrency sector enters a short-term bear market including experiencing $1.19 billion in DeFi hacks and exploits.
DappRadar also wrote: “The first quarter of 2022 had its ups and downs, but wasted by the war in Ukraine. This is one of the biggest events since the 2008 global financial crisis that shook global markets and hurt the industry.”
Gaming DApps accounted for over 50% of total user activity in Q1 2022 and NFT tokens generated $12 billion in trading. Despite the bubble warning Meanwhile, in terms of the total value of DeFi-locked funds, Ethereum (ETH) took the top spot again with $127 billion, followed by Terra Luna (LUNA) at $29 billion and BNB Chain at $13 billion.
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