Nearly 2 Million Wallets Interacted with DApps Daily in June Despite Regulatory Challenges

Web3 activity increased in June despite regulatory actions targeting top centralized exchanges, according to a new report from DappRadar.

In the last month, nearly 2 million wallets interacted with DApps daily, a 1.4% increase from May. While Web3 games held the top spot with 36% of users, DeFi followed with 35% after a 14% increase. Six of the ten most popular DApps represent the DeFi sector. DappRadar attributed the increased adoption to airdrop hunters racking up transactions on Layer 2 networks zkSync Era and StarkNet, as well as the cross-chain bridging protocol LayerZero.

The increase in Web3 activity follows June's tumultuous news cycle.

The month began with the crypto markets tumbling after the SEC filed lawsuits against top centralized exchanges Coinbase and Binance. However, the SEC went on to approve a new custodial crypto exchange backed by financial institutions Citadel Securities and Charles Schuab the following week. This news coincided with a flurry of filings for Bitcoin ETFs, and Wall Street's renewed interest ignited bullish momentum in digital asset prices.