In terms of growth, projects built on the Near, Klaytn, and Arbitrum blockchains took the lead. However, there was a decline in user participation in networks like Harmony, Solana, Hive, and BNB Chain, with Harmony experiencing a staggering decrease of 96% in unique addresses. Solana also lost 76% of its users but managed to regain some ground towards the end of the year.
On average, approximately 4.2 million unique addresses were daily interacting with Web3 applications by the close of 2023. Notably, NFT projects witnessed a remarkable growth rate of 166% compared to the preceding year, attracting a surge in new users. However, the trading volume for NFTs decreased by 49% to $12.6 billion when compared to 2022.
Decentralized finance (DeFi) applications experienced a notable increase in their user base, with a rise of 112%, while the volume of locked assets surged by 77% to reach a value of $103 billion. The number of unique addresses interacting with social media projects grew by 29%.
Among the most popular projects on the DappRadar platform were the games Alien Worlds and Farmers World, as well as the SyncSwap exchange. In a drastic turn of events, the trading volume of Bitcoin Ordinals tokens witnessed a colossal decline of 97% as reported by DappRadar in August.