2024

DappRadar

Magic Eden

<h4>The dApp industry keeps performing well. That’s despite the recent Black Monday event. Recovery seems to be taking part as we speak.</h4> 
DappRadar had <a href="https://dappradar.com/blog/ai-dapps-dominate-web3-industry-leading-with-28-activity-share" target="_blank" rel="noopener">a report</a> about the July dApp Industry growth. We take a closer look at this. This is Part 2 of a two-part series.&nbsp; 
<h5>Gaming NFTs on the Front Row</h5> 
During recent months, the NFT trend has changed. NFTs seemed to have found their way up again. Especially when in March they reached a $2 billion trading volume. However, the momentum seems to have gone. In July, the NFT trading volume narrowly went over $500 million. Compared to June, that’s a massive 41% decrease.&nbsp; 
On the plus side, sales only fell by 11%. So, it seems that the demand is still there. However, the prices are dropping. Furthermore, it should come as no surprise that Ethereum still leads the dance. Its market share is 29%. However, Polygon is breathing down its neck. Its market share is now 24%. This is due to a shift in their focus. Polygon switched from DeFi to blockchain gaming. The market seems to shift from PFPs to gaming-related NFT collections. 
One chain to keep an eye out for is Sui and its NFTs. We wrote about the unique features of <a href="https://www.altcoinbuzz.io/nft/sui-nfts/" target="_blank" rel="noopener">Sui NFTs</a>. They’re about to start making waves. You want to check out their blue-chip collection of <a href="https://www.altcoinbuzz.io/nft/prime-machin-case-study-for-sui/" target="_blank" rel="noopener">Prime Machin</a>.&nbsp; 
<figure id="attachment_148022" aria-describedby="caption-attachment-148022" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-148022 size-large" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-512-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-1024x576.jpg" alt="dApp Industry" width="696" height="392" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-512-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-1024x576.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-512-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-300x169.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-512-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-768x432.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-512-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-747x420.jpg 747w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-512-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-696x392.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-512-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-1068x601.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-512-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_.jpg 1278w" sizes="(max-width: 696px) 100vw, 696px">
 <figcaption id="caption-attachment-148022" class="wp-caption-text">
 DappRadar dApp Industry Report
 </figcaption>
</figure> 
<h5>NFT Marketplaces</h5> 
Since its grand entrance, <a href="https://blur.io/collections" target="_blank" rel="noopener">Blur</a> was a force to reckon with. Last year, it led the NFT marketplace sector. However, during July, <a href="https://opensea.io/" target="_blank" rel="noopener">Open Sea</a> took over the top spot again. Its trading volume dominated, with a 31% market share. Blur still holds a steady second spot. 
<a href="https://magiceden.io/" target="_blank" rel="noopener">Magic Eden</a> comes in third, due to the popular Bored Ape Yacht Club collection. <a href="https://element.market/zksync" target="_blank" rel="noopener">Element Market</a> also joined the party in the fourth spot. Its volume was up by 202% in July. The zkCastle collection was crucial in this rise. In case you want to follow up on a Sui NFT marketplace, <a href="https://www.tradeport.xyz/" target="_blank" rel="noopener">Tradeport</a> is the place to go. The picture below shows the July top 5 of NFT marketplaces. 
<figure id="attachment_148020" aria-describedby="caption-attachment-148020" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-148020 size-large" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-513-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-1024x360.jpg" alt="dApp industry" width="696" height="245" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-513-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-1024x360.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-513-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-300x105.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-513-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-768x270.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-513-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-1195x420.jpg 1195w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-513-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-696x245.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-513-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-1068x375.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-513-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_.jpg 1346w" sizes="(max-width: 696px) 100vw, 696px">
 <figcaption id="caption-attachment-148020" class="wp-caption-text">
 DappRadar dApp Industry Report
 </figcaption>
</figure> 
<h5>Exploits and Hacks</h5> 
Exploits and hacks are unfortunately part of the Web3 sector. During the last couple of months, we have noticed a downward trend. However, July wiped all this off the table. It saw a 400% increase in exploits and hacks compared to June. We’re looking at $250 million in damages. A number we haven’t seen since November 2023. 
Some noteworthy exploits during July, were, for instance, 
<ul> 
 <li><a href="https://www.altcoinbuzz.io/cryptocurrency-news/wazirx-hack-234-9m-compromised-via-ethereum-multisig-wallet/" target="_blank" rel="noopener">WazirX multisig exploit</a> on 19th July 2024 — This took the mother lode share by a whopping $230 million.&nbsp;</li> 
 <li>Li.Fi exploit on 16th July 2024 — An arbitrary call vulnerability caused this $8 million loss. This is a cross-chain DeFi protocol.</li> 
</ul> 
Securing dApps remains an important priority. Developers need to pay extra attention to keep their platforms safe from exploits. 
<figure id="attachment_148021" aria-describedby="caption-attachment-148021" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-148021 size-large" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-514-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-1024x463.jpg" alt="dApp industry" width="696" height="315" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-514-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-1024x463.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-514-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-300x136.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-514-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-768x348.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-514-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-1536x695.jpg 1536w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-514-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-928x420.jpg 928w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-514-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-696x315.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-514-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_-1068x483.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/FireShot-Pro-Webpage-Capture-514-AI-Dapps-Dominate-Web3-Industry-Leading-with-28-Activity-Share-dappradar.com_.jpg 1920w" sizes="(max-width: 696px) 100vw, 696px">
 <figcaption id="caption-attachment-148021" class="wp-caption-text">
 DappRadar dApp Industry Report
 </figcaption>
</figure> 
This sums up Part 2 of this two-part series. Here’s a link to <a href="https://www.altcoinbuzz.io/reviews/dapps/dappradars-july-2024-dapp-industry-report-part-1/" target="_blank" rel="noopener">Part 1</a>. 
<a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="alignnone wp-image-123700 size-full" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg" sizes="(max-width: 1197px) 100vw, 1197px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg 1197w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1068x132.jpg 1068w" alt="" width="1197" height="148"></a> 
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The post <a href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/dappradars-july-2024-dapp-industry-report-part-2/">DappRadar’s July 2024 Dapp Industry Report — Part 2</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

DappRadar’s July 2024 Dapp Industry Report — Part 2

Altcoin Buzz

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