Crypto Market Shows Resilience Despite Crypto Winter

Cryptocurrency

The crypto winter has not harmed at least one industry niche. The cryptocurrency market is facing one of its most brutal crypto winters, marked by a sustained drop in digital asset prices and the failure of major crypto companies, as well as high-profile cases of hacks and heists.

Nonetheless, a recent report from blockchain data and analytics firm DappRadar suggests that the industry may not be in such a gloomy state, as it has shown remarkable resilience and maturity amid the crypto winter.

According to DappRadar’s 2022 Industry Report, decentralized applications (dApps) usage has skyrocketed despite the bearish market conditions.

The dApp industry saw a 50% year-on-year increase in its daily unique active wallets (dUAW), rising from 1.58 million in 2021 to 2.37 million in 2022. This growth can be attributed to increased acceptance among consumers and businesses, as well as increased investor interest.

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