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In the second quarter of 2024, the count of distinct active wallets (dUAW) within the Web3 sector reached an unprecedented 10 million daily, fueled by user engagement during various airdrop events.
A report from DappRadar indicates that the user base for Web3 applications in Q2 2024 achieved record highs, with a 40% increase over a three-month span. Between April and June 2024, the average number of unique active wallets was approximately 10 million each day.
Analysts at DappRadar highlight that the main driver behind the surge in Web3 user engagement was the airdrops that occurred during this timeframe. The uptick in active users was primarily influenced by airdrops from Blast and zkSync, which were executed last month. Analysts caution that the upward trend in dUAW may not be stable, as projects often struggle to adequately motivate users to stay engaged once the airdrops have ended.
The report further mentions that nearly all categories of decentralized applications (dApps) experienced notable growth in Q2. The SocialFi sector was the most active, with unique user numbers reaching 2 million daily during this period. Overall, this sector expanded by over 66%, propelled by the increasing popularity of applications such as Fantasy.top and UXLINK.
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The NFT market exhibited its highest level of activity since Q1 2023, with trading volume hitting $4 billion. More than 14.9 million NFT transactions were completed in Q2 2024. The NFT marketplace Magic Eden raised its market share from 17% to 22%, while the market leader Blur saw its share nearly cut in half to 31%.
Decentralized exchanges (DEX) also experienced substantial growth in active user numbers. The user base for Uniswap rose by 80%, while Raydium’s user count increased by 134%. DappRadar analysts attribute this trend to the rise in meme coin transactions on these platforms.
Despite the increase in user figures, the total value locked (TVL) in the DeFi sector fell by 4% compared to the previous quarter, totaling $168 billion. The most significant TVL reductions in Q2 2024 were observed on the Tron and Arbitrum networks, which experienced declines of 17% and 9%, respectively. Conversely, Layer 2 protocols for Ethereum demonstrated the most considerable growth over the three months, with TVL on the Linea and Base blockchains increasing by 420% and 44%, respectively.
In April of this year, analysts reported a twofold rise in the number of users for GameFi projects, and in June, the Binance cryptocurrency exchange announced it had surpassed 200 million users.
Сообщение Number of Web3 Users Hits Record High появились сначала на CoinsPaid Media.
