Summary
The number of daily active users of decentralized applications (dApps) has reached its highest level since 2022, with 5.3 million users in January, according to research from DappRadar. This marks an 18% monthly increase and indicates a sustained rise in on-chain activity. Web3 games accounted for 28.3% of active users, followed by decentralized finance (DeFi) with 19%, and socialfi dApps with 868,000 daily users, a 262% increase compared to the previous month. Near was the leading network by active users, followed by BNB Chain and ZkSync Era. In terms of transaction volume, Solana came out on top with over 343 million transactions, followed by Wax and BNB Chain. Ethereum-based dApps had the highest monetary value, followed by Arbitrum, BNB Chain, and Polygon. NFT trading volume reached $1.5 billion, with Blur leading the activity. OpenSea, the former leader in the NFT space, recorded its lowest volume at $102 million.
Key Points
1. Strong activity on web3 games and socialfi platforms is driving an increase in on-chain activity. This is evident from the surge in daily active decentralized application users, reaching its highest level since 2022 at 5.3 million throughout January.
2. Web3 games accounted for a significant portion of active users, with 1.5 million or 28.3% of users engaging in these games. DeFi followed closely with 1 million or 19% of users. Socialfi dApps, which experienced a significant jump of 262% month-over-month, were the third most active sector with 868,000 daily users.
3. Near was the leading network by active users, despite a 31% decline, with 10.2 million users. BNB Chain and ZkSync Era followed with 7.8 million and 5.45 million users respectively. In terms of transaction volume, Solana emerged as the leader with over 343 million transactions executed last month, surpassing networks with higher user counts.