DApp Usage Surges by 70%, Reaching Record-High Activity Levels in Q3
According to Dapp Radar’s Q3 report, daily unique active wallets (UAW) interacting with decentralized applications (dApps) surged by 70% between the second and third quarters of 2023, reaching an all-time high of 17.2 million.
AI-related applications led the way across various sectors in the dApp industry, with nearly 4.3 million daily UAW, representing a 71% growth over the quarter.
The report highlighted that data processing layer DIN and the decentralized AI data platform Alaya were the key contributors to the significant rise in AI-related usage. This trend signifies the growing attention towards the integration of AI technologies with the blockchain industry.
In terms of user activity, the gaming sector remained the largest, though its overall market share within the dApp space slightly declined, from 28% to 26% quarter-over-quarter. The report suggested that users may be gravitating toward more innovative applications, such as AI and social platforms.
Toncoin-based gaming wallet HOT Game stood out as the most active dApp in Q3, accumulating 1.64 million UAW, while Ronin-based Pixels ranked as the fifth most used dApp with 656,000 UAW, making it the only pure gaming application among the top five.
Social dApps accounted for 19% of all activity in Q3. CARV, a modular data layer, led the sector with 1.24 million UAW, making it the most active social dApp of the quarter.
Despite a 12% decline in the total value locked (TVL) within the DeFi ecosystem, which fell from over $150 billion to $133 billion by the end of September, certain decentralized exchanges (DEXs) like Raydium and Uniswap saw significant growth, particularly driven by memecoin trading.
Raydium, built on Solana, recorded 1.18 million daily UAW during the quarter, while Uniswap’s V2 and V3 versions maintained 459,000 daily UAW. Additionally, Jupiter Exchange boosted DEX activity with an average of 216,000 daily UAW, ranking as the third most engaging DeFi application for users in Q3.