CandleFocus Dapps' revenue hits $164M in October amid growing adoption
2024-11-08
Author: Content Editor
In October, decentralized applications (dApps) generated significant revenues, reaching $164 million, according to a report by Binance Research. This suggests increased adoption of blockchain technology, driven by the use of trading bots and decentralized exchanges. The report highlighted that dApp interactions have been steadily increasing, with three popular blockchains – Tron, Ethereum, and Solana – collectively generating $182 million in monthly revenue. The growth of dApps indicates a potential shift in revenue share from traditional blockchains to these protocols. The report also noted that trading-related dApps, particularly DEX and trading bots, were the primary revenue generators due to the surge in speculative trading of memecoins. Additionally, the report questioned whether infrastructure projects in the blockchain industry have been overfunded compared to new applications, which are crucial for attracting new users and promoting industry growth.
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