As the AI-related DApps surged over 71% in the same time period, the main reason for the surge of DApps is considered the same.
The activity in decentralized finance (DeFi) slipped from $168 billion to $160 billion in terms of the total value locked from one quarter to another.
The NFT platform OpenSea had an outstanding performance in terms of the number of sales, active traders, and trading volume, and surged over $570 million in the same time frame.
The blockchain activity mainly accompanied by artificial intelligence (AI) applications has led the growth of Decentralized applications (DApps) in Q3 of this year.
On October 8, DappRadar released a report stating that the daily unique active wallets (UAWs) have seen a significant increase of 70% compared to Q2. This activity increased UAWs to around 17.2 million.
As the AI-related DApps surged over 71% in the same time period, the main reason for the surge of DApps is considered the same. Some significant members like Data Intelligence Network and Alaya AI have become the leaders of this trend.
The data intelligence network commonly abbreviated as DIN is working on an AI native layer of data collection, validation, and quantitative operations. The network has touched about 1 million daily UAWs in the previous year.
At the same time, if we talk about Alaya, it is also a distributed artificial intelligence platform that took its total account of users to 100,000 wallets in the last 1.5 months.
What about DeFi?
Source: DappRadar
The activity in decentralized finance (DeFi) slipped from $168 billion to $160 billion in terms of the total value locked from one quarter to another. The Ethereum network also slipped 20% and stood at around $95 billion.
Going completely opposite to the trend, some layer-1 blockchains like Sui and Aptos came up as ultimate leaders, by gaining 78% hype in the time frame accounting for $1.6 billion and 1.3 billion respectively in terms of the total value locked.
NFT Platforms didn’t play well
Taking account of the non-fungible tokens, it didn’t play well in the quarter, as compared to its activities in the last 90 days. The trading volume slipped by 60% and stood at $1.6 billion, and at the same time NFT sales slipped to 11.5 million, a fall of 23% as compared to the previous one.
The NFT platform OpenSea had an outstanding performance in terms of the number of sales, active traders, and trading volume, and surged over $570 million in the same time frame. The platform has made a significant comeback in the industry and has become one of the leading members.
Meanwhile, competitors like Blur and Magic Eden also declined. In Q2, the trading volume on Blur slipped by 78% because of tapering down its airdrop motives.
The suspension of royalties by Magic Eden crashed the activity which as a result took the creators as well as traders towards OpenSea. Adding to this, the Bitcoin Ordinals hype is no longer valid and the leading community-centric NFT marketplace was very famous for that.
