NFTs

Daily DApp Users Surges To New High In February As DEX Activity Soars

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DEXes hosted an 11-month high for weekly trade volume in late February.

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.

According to the March 7 report, an average of 6.7 million wallets interacted with decentralized applications each day last month. The activity beat out January’s previous record of 5.3 million by 26.4%.

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.

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’s top ten dApps, with Jupiter Exchange, SyncSwap, Uniswap v3, and PancakeSwap v3 hosting between 1.1 million and 1.25 million users each.