Ethereum’s dominance in DeFi grew amidst market downturns, accounting for 69% of the TVL in protocols, DappRadar's latest report reveals.
Ethereum’s dominance in DeFi grew amidst market downturns, accounting for 69% of the TVL in protocols, DappRadar’s latest report reveals.
he number of daily Unique Active Wallets interacting with blockchain apps only reached 2.11 million on average in Q2, 11% down from Q1 2022, but still recorded a 62% growth YoY.Terra debacle and the liquidity issues occurring to the CeFi players such as BlockFi, Celsius, Voyager, and 3AC. In the wake of Terra’s collapse, the crypto market cap has dropped 34%, falling below the $1 trillion mark at a level not seen since Q4 2020.
In addition, the report highlights the security concern clouding the industry, with a total of $676 million being stolen in crypto assets in Q2. The notable example came from the Given the circumstance of increasing NFT marketplaces competing for market shares, OpenSea witnessed a drop in trading activities and revenue. The report explained:
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