DeFi and social dApps lead in monthly unique wallets for August

DeFi

Decentralized exchanges Raydium and Uniswap v2 had 18.8 million and 4.8 million monthly unique active wallets, respectively, in August, granting them the second and fourth most active applications in the blockchain sector in the period.

Notably, Raydium posted 107% monthly growth in activity, while Uniswap v2 fell 9%, highlighting the trend of growing user activity on Solana.

Despite having two out of five of the most interacted platforms last month and a nearly 10% increase in monthly unique users, DeFi applications averaged 2 million dUAW and only accounted for 12% of all activity seen last month.

Social

Meanwhile, the social sector accounted for 23% of industry activity with 3.9 million dUAW in August, only bested by gaming applications’ 24% dominance.

The opBNB-based social platform CARV was the most used application last month, with 28 million unique active wallets — a 2,331% monthly increase.

Moreover, the Web3-based shopping application KAI-CHING saw 16.7 million monthly unique active users, making it the second-largest application by usage in August. This number is significant, as the app deployed on Near Protocol managed this feat despite losing 4% of its user base.

HOT Game, also deployed on the Near infrastructure, wrapped up the five most used blockchain applications in August, with 4.1 million monthly unique active wallets.

Falling TVL and revenue

Although DeFi applications saw a monthly increase in activity, the sector’s total value locked (TVL) and application revenue have not grown in tandem.

DeFi dapps saw a 15% slump in August, falling to $124 billion as the wider crypto market experienced declines.

On the revenue side, DeFi applications saw one of their worst year-to-date months, registering $65.4 million as per TokenTerminal data. This is a 13% drawdown from July’s roughly $75 million in revenue, which contrasts with the increasing activity seen last month.

The post DeFi and social dApps lead in monthly unique wallets for August – DappRadar appeared first on CryptoSlate.

DeFi and social dApps saw a notable rise in daily unique active wallets (dUAW) in August, as the overall dApp industry hit a record 17 million average dUAWs, up 9% from the previous month, according to a DappRadar report. DeFi Decentralized exchanges Raydium and Uniswap v2 had 18.8 million and 4.8 million monthly unique active
The post DeFi and social dApps lead in monthly unique wallets for August – DappRadar appeared first on CryptoSlate.