In 2023, web3 saw a 124% increase in Unique Active Wallets, with Near, Klaytn, and Arbitrum leading the growth, while others declined.
In a recent report from blockchain analytics platform nft-web3-games” data-type=”link” data-id=”https://dappradar.com/blog/dapp-industry-report-2023-defi-nft-web3-games” target=”_blank” rel=”noopener”>DappRadar On January 11, 2024, the web3 landscape saw substantial growth, with a 124% increase in unique active wallets (UAWs) interacting with decentralized applications (DApps) throughout 2023.
The data highlighted Near, Klaytn and Arbitrum as the growth pioneers, while Harmony, Solana and Hive experienced drops in user engagement.
On average, 4.2 million UAWs interacted with web3 applications daily, doubling the previous year's numbers. Non-fungible token (nft) products dominated the growth, up 166%, followed by defi with a 112% increase. Social media apps, powered by leading protocols such as Friend.tech, Lens Protocol and Galxe, reported a 29% gain.
Near, Klaytn, and Arbitrum emerged as the top performers, with growth rates of 1,902%, 1,099%, and 624%, respectively. Key DApps on these networks, such as KAI-CHING, SuperWalk, and Uniswap V3, contributed significantly to their success.
In contrast, Harmony, Solana, and Hive faced setbacks, experiencing drops of 96%, 76%, and 68%, respectively. Harmony's issues were related to a bridging exploit in June 2022, while Solana faced challenges related to her partnership with FTX.
The report acknowledged Solana's impressive recovery in the latter part of 2023. It was speculated that Hive's loss of users was due to it failing to meet financial targets and reporting significant losses.
Overall, the report underlines the vitality of blockchain networks, citing cases such as Stars Arena sending 10,000 UAW to the Arbitrum network in October and ethereum raising more than $54.3 million in fees in a single week in November.
