DappRadar, a decentralized application tracking platform, reported that the number of active crypto wallets increased by 7% in October compared to the previous month.
During the month, at least 2 million wallets showed activity in decentralized applications. One of the reasons for this growth was the integration of the ETH Lido staking platform with second-tier solutions Arbitrum and Optimism. The application recorded an increase in unique addresses of 500% and 83%, respectively.
In addition, the growth of the indicator was facilitated by the partnership between Google Cloud and the NEAR Foundation.
“This growth once again shows the resilience of the industry even in challenging times,” said DappRadar.
Analysts also reported an increase in the total volume of blocked assets in DeFi projects – the figure increased by 5.3% and amounted to $53.2 billion. However, the volume of blocked assets is still 74% below the previous year’s record. The number of active wallets in DeFi applications also saw a 7% increase.
In general, the market is still in the consolidation phase. The bitcoin exchange rate, although it rebounded from the $18,000 level, remains within $20,000.
In October, infrastructure company Alchemy reported that Web3 project developers are more active than ever, especially on the Ethereum network. Analysts believe that 2022 could be the most important year for Web3 developers.
Source: Bits
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