DApp Activity Surges in Q3 2024, Driven by AI Applications

AI in Brief

According to Odaily, a report by DappRadar on October 8 revealed that blockchain activity experienced significant growth in Q3 2024, driven primarily by AI applications. The number of daily unique active wallets (UAW) reached a record high of 17.2 million, marking a 70% increase from the previous quarter. This increase is largely attributed to the performance of AI-related DApps, which saw a 71% increase in daily visits, with UAWs reaching nearly 4.3 million.

During this period, activity in DeFi applications saw a decline, with the total value locked (TVL) falling from $0.207270.6692.168 billion to $0.207270.6692.160 billion. Ethereum’s TVL decreased by 20% to $0207270669295 billion. In contrast, other Layer 1 blockchains such as Sui and Aptos performed exceptionally well, achieving growth rates of 78%, with TVLs of $020727066921.6 billion and $020727066921.3 billion, respectively.

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