• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Thursday, May 29, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Report: NEAR Leads The Growth in Web3 Apps in 2023

Jordan Avery by Jordan Avery
February 5, 2024
in NEAR Protocol
Reading Time: 3 mins read
0
NEAR-PROTOCOL-WEB3-APPS-_1_
Share on TwitterShare on Facebook

According to the latest report from the analytics platform DappRadar, the number of unique active wallets (UAW) that engage with Web3 apps has increased by 124% in 2023. NEAR, itself Klaytn and Arbitrum led the year in growth, meanwhile Solana, Harmony, and Hive saw a decline in the number of unique users.

The term “UAW” is a measurement of how many unique active wallets interacted with a Web3 app, also known as a decentralized application (DApp) over a particular time frame.

NEAR-PROTOCOL-Web3 Apps
source: DappRadar

Over the course of the last year, an average of 4.2 million UAWs interacted with these apps on a daily basis, and this number is more than double the previous year’s users. However, (NFT) products led the way in growth, posting a 166% increase over 2022, meanwhile decentralized finance (DeFi) came in 2nd spot with a 112% increase. According to the report, Social media apps generated a 29% gain, thanks to “leading protocols” Lens Protocol, Friend.tech, and Galxe.

NEAR Protocol

NEAR stood out with the most remarkable growth rates among all blockchain networks, showcasing an extraordinary increase of 1,902%. In comparison, on the other hand, Klaytn experienced a significant growth of 1,099%. Meanwhile the 3rd spot went to Arbitrum, which witnessed a notable growth of 624%. Some of the top decentralized applications (DApps) on these networks include the loyalty rewards platform Kai-Ching, and the fitness application SuperWalk, and the decentralized exchange Uniswap v3.

According to the DappRadar report, Harmony, Solana, and Hive experienced significant setbacks throughout the year, with Harmony’s Unique Active Wallets (UAW) plummeting by 96%, meanwhile Solana’s by 76%, and Hive’s by 68%. 

The reason behind Harmony’s decline was attributed to a bridge exploit that happened in June 2022, which led to hindering its recovery in the year. Solana faced similar challenges, notably due to its association with FTX. Despite these hurdles, Solana demonstrated an impressive recovery in the final months of 2023, mitigating its losses for the year, as highlighted in the report. 

On the other hand, the report speculated that Hive network’s decline in number of unique users might be linked to the failure to meet financial targets and the reporting of substantial losses. Notably, Hive network serves as the host for Splinterlands, the 11th-ranked Web3 game by UAW.

At The End

Among blockchain developers, NEAR is considered a project definitely worthy of attention. Ultra-fast and cheap transactions, extensive functionality and freedom of development – all this allows to create applications that will be useful and convenient for users. Fully compatibility with Ethereum, which is also a great benefit, so it is not difficult to switch from Ether to NEAR or vice versa.

Tags: BlockchainDappRadar reportDeFi growthNEAR ProtocolnetworksNFT growthunique walletsWeb3 apps
Previous Post

Here Are 8 Top Reasons To Buy Solana (SOL) This Year

Next Post

How to Make Cross-Chain Swaps Easy with Squid Router

Related Posts

NEAR Struggles Amid Selling Pressure
NEAR Protocol

NEAR Struggles Amid Selling Pressure

December 27, 2024
NEAR-PROTOCOL-Chain Abstraction 1
NEAR Protocol

NEAR Protocol Unveils NEAR Name Tokens for Enhanced Digital Identities in Web3

May 30, 2024
near-protocol-Illia Polosukhin-price- 1
NEAR Protocol

Illia Polosukhin: The Rise of User-Owned AI on NEAR

May 26, 2024
NEAR-PROTOCOL-PRICE-22121121 1
NEAR Protocol

NEAR Protocol Poised for 47% Surge Soon, Analyst Says

May 13, 2024
near protocol-price-network 1
NEAR Protocol

NEAR Protocol Rockets in Q1: Market Cap, Revenue, Active Users Soar

May 6, 2024
near protocol partnership
NEAR Protocol

NEAR Foundation, Lulo X, and Peersyst Technology Partner to Drive Digital Finance Innovation

April 29, 2024

Press Releases

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?
News

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

by Alex Mercer
May 25, 2025

Introduction It seems the U.S. labor market has hit a pothole—again. The Kansas City Fed’s Labor Market Conditions Index (LMCI)...

Read more
Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

May 23, 2025
Dogecoin’s Ready to Bark Again—Could $0.30 Be the Next Fetch?

Dogecoin Ready to Bark Again—Could $0.30 Be Next

May 20, 2025
Ethereum Climbs While PEPE Reloads—Who's About to Explode

Ethereum Climbs While PEPE Reloads—Who’s About to Explode?

May 18, 2025
Trump Meme Coins Spark Calls for Treasury Review

Trump Meme Coins Spark for Treasury Review

May 15, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier