The crypto industry experienced significant growth in Q2 2024, with over 10 million unique active wallets (UAW) created between April and June, marking a 40% increase from the same period last year, according to DappRadar.
This surge in UAWs was observed across all industry segments, with SocialFi leading the charge. The rise of SocialFi highlights the increasing interest in decentralized social platforms, which offer users more control and privacy compared to traditional social media.
NFTs have also shown consistent growth since their peak in Q3 2023, driven by the popularity of Runes and Ordinals. These innovative digital assets continue to attract users, contributing to the steady rise in NFT activity.
The Crypto Industry Recorded Over 14 Million Transaction In Just Q2 2024
In Q2 2024, the industry recorded over 14 million transactions, significantly boosting the total transaction volume to $4 billion, up from $1.6 billion the previous year. This substantial increase underscores the expanding adoption and utility of blockchain technology across various applications.
UNIQUE ACTIVE WALLETS REACH NEW HIGH AS WEB3 GAINS MOMENTUM
According to DappRadar, unique active wallets (UAW) from April to June topped 10 million, marking a 40% increase over the previous quarter.
Each sector of the industry onboarded more users, with SocialFi claiming the… pic.twitter.com/5eR8ux7tSp
— IBC Group Official (@ibcgroupio) July 5, 2024
The growing number of unique active wallets and the increase in transaction volume reflect the crypto industry’s resilience and its ability to attract new users and investments. As more people explore the benefits of blockchain technology, the ecosystem continues to evolve, offering new opportunities and driving further innovation.
Overall, Q2 2024 has been a period of robust growth for the crypto industry, with significant increases in user activity and transaction volumes. The continued expansion of UAWs, coupled with the rising popularity of NFTs and SocialFi, indicates a promising future for the sector as it continues to innovate and attract a broader audience.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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