Use of dApps on the rise: seven million active wallets daily

DApp activity increased 77 percent in the first quarter of this year. An average of seven million wallets per day were active (Unique Active Wallets), according to a report by Dappradar.

This growth can be attributed to the good performance of the DeFi market. Total value locked (TVL) in the DeFi sector increased 70 percent to $175 billion during this period.

TVL growth was particularly strong for Solana at 165 percent.

The NFT sector also recorded its strongest quarter since 2023, with trade volume up 50 percent to $3.9 billion.

According to Dappradar, losses from exploits and hacks totaled $407 million in the quarter. This is down 32 percent from the previous quarter, but up nine percent from last year.