- In 2022, there was a 50% increase of unique active wallets due to the decentralised app (Dapp).
- DappRadar’s 2022 report shows that DeFi, gambling and blockchain games dapps were the most popular.
- DeFi protocol’s unique active wallets saw a 2% growth, despite a 73% increase in total value locked (TVL).
2022 was a brutal year for cryptocurrency, with the crypto winter marked by plummeting prices and major negative events. FTX’s implosion is a case in point, DappRadar, the world’s largest dapps store, noted in its Dapp Industry Report 2022.
But despite the turmoil and the ongoing bear market, crypto has shown a resilience that’s reflected in events such as Ethereum’s successful Merge that has seen energy consumption decline by 99.9%.
DappRadar also reported that there were other remarkable growth metrics in the year. One of these is the significant growth in a key metric for the decentralised applications (dapps) sector – an increase in overall daily unique active wallets.
Dapps saw a 50% growth in unique active accounts
DappRadar reported that there was a 50% rise in daily unique active wallets (dUAWs) in the dapp market for 2022. According to the data, dUAWs increased from an average of 1.58million in 2021 up to more than 2.37 million by 2022.
According to the report, DeFi and gambling were the most used dapps categories. DeFi activity declined, although dUAW grew by 2% from 641,510 to 652,970 in 2021.
Gambling dapps accounted for 53,364 UAW in 2021. But that number increased 106% by 2022 to reach 110,140 dUAW.
Also, blockchain-based games saw a significant increase in daily unique users. The metric went up by 85% from 622,620 UAW to 1,152.255 daily active wallets.
In 2022, the DeFi industry TVL declined significantly
While the dapps industry remains on the path to greater adoption – we recently highlighted the sector saw a 31% growth in users in Q3, 2022 – the Total Value Locked (TVL) shrank massively amid the bear market.
DeFi TVL fell 73.97% to $55 Billion in 2022 from $256 Billion in December 2021.
Despite the significant declines, the top two DeFi chains remain as Ethereum and BNB Chain – which have unfortunately seen their TVL shrink by 74.56% and 62.5% respectively in 2022. Layer2 solutions such as Arbitrum and Optism have performed better. For instance, Arbitrum’s TVL only fell 12% while Optimism’s jumped 127%
