In the second quarter of 2024, Web3 user engagement hit an all-time high, with approximately 10 million daily unique active wallets (dUAW), marking a 40% increase from Q1.
According to a July 4 report by blockchain analytics platform DappRadar, the unprecedented growth spanned various sectors of the decentralized application (DApp) industry, leading to an overall bullish trend.
Social dApps and NFTs Growth Marks Q2
The social sector had the highest increase, clocking in a 66% rise in dUAW. This rise was driven by applications like Fantasy.top and UXLINK. The blockchain gaming sector also saw an uptick in users, although its market share slightly declined.
Decentralized exchanges (DEXs) such as Uniswap and Raydium registered substantial increases in user activity. Uniswap’s dUAW was up by 80%, and Raydium’s was up by 134%, owing to an influx of meme coin traders.
NFT marketplaces enjoyed their highest usage since Q1 2023, with $4 billion in trading volume across over 14.9 million in
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