The report shows that the total dApp activity has declined severely, however, the activity on DeFi apps showed signs of recovery.
Exploit of DeFi protocols continued to persist in August 2022 with Nomad’s $120 million hack remaining the largest one.
DappRadar has recently published its report for the month of August 2022 after a volatile crypto market activity. As per the report, the DApps activity has been on a continuous decline month by month.
Currently, the daily Unique Active Wallets (UAW) connected to blockchain dapps have dropped to their lowest at 1.67 million. In August 2022, the UAW connected to blockchain DApps dropped by 2.53 percent in comparison to the previous month. There’s also a 14.73 percent drop in comparison to August 2021.
But on a positive note, DeFi dapps showed signs of recovery marking a 3.7 percent increase in terms of daily average UAW month-over-month (MoM). DappRadar notes that this growth has been mainly by Flow Protocol which registered an increase of...
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