Decentralized finance (DeFi) has officially overtaken gaming as the most popular sector in the decentralized app (DApp) world. According to DappRadar, DeFi now accounts for over a third of all DApp activity, with gaming falling to second place.
DeFi’s Rise to the Top
This shift is due to a surge in DeFi activity in October, fueled by increased trading, especially around meme coins. DeFi saw a whopping 7.4 million average daily unique active wallets, making it the dominant force in the DApp space for the first time since 2019.
Other DApp Sectors See a Dip
While DeFi soared, social and AI-focused DApps saw a decline in interest, suggesting a potential shift in the DApp market.
DeFi’s Strong Performance Continues
DeFi’s dominance is further solidified by its total value locked (TVL), which reached a record $165 billion in October. This figure represents the amount of money deposited in DeFi protocols, and it’s often seen as a measure of the health of the crypto ecosystem.
DeFi Attracts Investors
The sector also saw a significant $100 million in investments last month, indicating strong confidence in the future of DeFi.
