Daily active dApp users surged to a new all-time high for the second consecutive month in February, according to a new report from DappRadar.<\/p>\n
According to the March 7\u00a0report<\/a>, an average of 6.7 million wallets interacted with decentralized applications each day last month. The activity beat out January\u2019s previous record of\u00a05.3 million<\/a>\u00a0by 26.4%.<\/p>\n GameFi projects continued to boast the largest share of dApp users, with blockchain games hosting a 20% monthly increase to 1.87 million active wallets, equating to 28% of daily dApp users in February. Three of the four most popular dApps represented the gaming sector, with MotoDEX, Sweat Economy, and Hot Game hosting 6.7 million, 3.75 million, and 1.82 million monthly users respectively.<\/p>\n DeFi users trended sideways for the month, with roughly 1 million wallets engaging with DeFi dApps each day. However, decentralized exchanges (DEXes) made up four of the month\u2019s top ten dApps, with Jupiter Exchange, SyncSwap, Uniswap v3, and PancakeSwap v3 hosting between 1.1 million and 1.25 million users each.<\/p>\n <\/p>\n DEXes hosted nearly $50B worth of trade during the week of Feb. 25, the highest level in 11 months.<\/p>\n The spike in dApp activity coincided with Bitcoin and Ethereum posting several multi-year price highs last month, culminating in BTC posting new\u00a0all-time highs<\/a>\u00a0earlier this week.<\/p>\n The surge in crypto prices propelled DEXes into the dApp leaderboard by users, with many traders also chasing the eye-watering gains coming out of the memecoin segment \u2014 for which the market cap has nearly\u00a0tripled<\/a>\u00a0since mid-January.<\/p>\n The user base for both NFT protocols and SocialFI dApps averaged roughly 1 million daily, marking growth of 24% and 12% respectively.<\/p>\n NFT marketplaces continue to vie for dominance despite volume falling 14% month-over-month to $1.3 billion, although total NFT sales count posted a slight uptick of 1.5% to 5.23 million. Monthly NFT volume has now dipped 27.5% since posting a local high of $1.8 billion in December.<\/p>\n <\/p>\nNo definitive leader among NFT marketplaces<\/h2>\n
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