DApp Activity Surges in Q3 2024 Driven by AI Applications

According to Odaily, a report from DappRadar on October 8 revealed that blockchain activity experienced significant growth in the third quarter of 2024, primarily driven by artificial intelligence applications. The number of daily unique active wallets (UAW) reached a record 17.2 million, marking a 70% increase from the previous quarter. This surge is largely attributed to the performance of AI-related DApps, which saw a 71% increase in daily visits, with UAWs reaching nearly 4.3 million. During this period, activity in DeFi applications saw a decline, with the total value locked (TVL) dropping from $168 billion to $160 billion. The Ethereum network's TVL decreased by 20% to $95 billion. In contrast, other Layer 1 blockchains like Sui and Aptos performed exceptionally well, achieving growth rates of 78%, with TVLs of $1.6 billion and $1.3 billion, respectively.