DApps user activity up 3.7% in August

by in DeFi News

DApp

In May, not only the value of leading digital currencies collapse but also the activity of users of blockchain applications (DApps) sharply weakened.

The recovery trend was outlined at the end of the summer, according to the report of the DappRadar team. The average daily number of active addresses increased by 3.7% last month compared to May.

Analysts attribute the strengthening of the decentralized applications market to the increase in transactional activity on the Solana and Flow blockchains. These networks have recently become more used by DApps developers, as they successfully compete in performance with Ethereum.

The DeFi decentralized finance ecosystems are also recovering after a big drop in spring-summer 2022.

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According to the DeFiLlama platform, the number of funds accumulated in protocols increased to $60.03 billion on September 12. In mid-June, this figure was about $55 billion.

The lion’s share of digital assets placed in DeFi projects is deployed on Ethereum – $35.25 billion.

The second and third places in the ranking of blockchains in terms of blocked funds are occupied by Tron and Binance Chain - $5.77 billion and $5.46 billion, respectively.