SNEAK PEEK
- U.S. Federal Reserve’s interest rate hikes, high inflation, layoffs and slow economic growth influenced crypto in 2022.
- DappRadar has issued its yearly cryptocurrency market analysis.
- DappRadar connected 50 blockchains, monitored 13,000 DApps, and collected 13,500 NFTs.
DappRadar has published its annual market report, concentrating on obstacles, significant technological breakthroughs, and a rising number of daily active users.
All of the new and creative models being created around the concept of decentralization and the increased use of blockchain technology by key industries and enterprises have resulted in the development of a broader spectrum of Dapps. Many large corporations from many sectors are investigating how they might enter the Web3 environment.
By 2022, DappRadar will monitor more than 13,500 NFT collections and almost 13,000 Dapps via its 50 blockchain connectors. The enormous number of dApps demonstrates the sector’s status, where successful projects continue to emerge despite adverse conditions.
The network, Dapp, and crypto industries have surely had highs and lows in 2022. Macroeconomic issues, usually slowing economic development, have created great uncertainty. Harsh marketplace circumstances were the norm for much of the year, but the blockchain and Dapp industries still need to make several remarkable technological advances.
As of 2022, the Dapp sector had an average of 2.37 million daily dUAW, up 50% from 1.58 million in 2021.
Despite a 74.56% decrease in TVL, Ethereum remains the most popular DeFi network. As a result of a 62.50% reduction, BNB Chain has regained its position as the second-largest DeFi ecosystem, reaching $6.5 billion.
Yuga Labs kept growing by purchasing CryptoPunks, Meebits, and the NFT firm WENEW Labs. There were 312 crypto assaults in 2022, resulting in $48.74 billion in damages, the largest for any year.
According to the sources, the Dapp business will progress and grow more in 2023, with new and creative technologies being created and implemented.
