Web3 Applications Achieve Record High with 10 Million Daily Active Users

CoinCircle News reported:
The use of decentralized applications significantly increased in the second quarter.
According to data from DappRadar, Unique Active Wallets (UAW) exceeded 10 million, representing a 40% growth compared to the previous quarter.
While SocialFi dominates the rankings, every sector of the industry has attracted more users. However, despite reports from DappRadar indicating a 66% growth in social platforms with an average of nearly 2 million UAW, experts have been skeptical given the continuous decline in Friendtech and Fantasy Top.
Gaming remains the largest sector in dApps usage, briefly surpassing 3 million users in early May, only to decline by 30% thereafter.
Notably, NFTs experienced their best quarter since the first quarter of 2023.
Driven by the popularity of ordinals and Runes (a new protocol enabling meme coins on Bitcoin), non-fungible tokens have been steadily growing since hitting a low in the third quarter of 2023. The industry’s transaction volume has increased from $16 billion last year to $40 billion, with over 14 million transactions in the second quarter.
OpenSea, once the darling of the NFT industry, ranked third in transaction volume at $3.69 billion from 1.8 million transactions. Blur took the gold with $12.7 billion, closely followed by Magic Eden at $8.84 billion.
The OKX NFT market and UniSat based on Ordinals respectively ranked fourth and fifth.
However, other indicators show OpenSea continues to be popular among traders. On July 2nd, OpenSea had 1,255 unique buyers, while Blur had 836. Sales volumes also favored the former, with $2,384 and $2,168, respectively.
Among the top five NFT collections, only Runestones witnessed growth in the past quarter. With transactions totaling $165 million, the series saw a 93% increase, while others like Bored Ape Yacht Club, Pudgy Penguins, and Mutant Ape Yacht Club remained stagnant due to price declines.