Assessing the Impact of FTX Meltdown in the Dapp Industry

Assessing the Impact of FTX Meltdown in the Dapp Industry

Key Takeaways

  • On November 8, the FTX and Alameda Research wallets had $1.7 billion and $177.3 million, respectively. At writing, the net worth of both wallets has decreased by 94% and 69%, respectively.
  • DeFi UAW peaked on November 9 and 10, reaching almost 500,000 UAW on both days; DeFi activity is now back to last month’s levels (400K dUAW).
  • Gaming dapps and gaming chains as EOS, Hive, Wax, Ronin and IMX seem mostly unaffected by the FTX meltdown; gaming UAW peaked on November 10 with almost 900,000 UAW.
  • Since November 1, the DeFi TVL has dropped 20.60%, from $83 billion to $65 billion.
  • Solana decreased its dUAW by 6.53% (46K) and the transactions count by 10.42% (1.5M) since October 31; its activity peaked on November 8 with 65K UAW. Solana lost 18% in TVL measured in SOL and 66% in TVL USD.
  • Since November 1, Solana’s NFT trading volume increased by 380% and the NFT sales count increased by 396%. DeGods had a decrease in the floor price in SOL of 24.01% and 69.11% in USD; additionally, the number of NFTs listed has increased by 58.04%.
  • After rumor of Crypto.com potentially being insolvent on November 13, the activity in Cronos has reached 15,000 dUAW and 25k in transactions count. Its TVL has decreased by 19% in USD, but gained 45% in CRO.
  • The overall NFT trading volume since November 1 decreased by 68.60%, and the sales count dropped by 24.50%. The blue-chips collections have maintained their value, as they decreased on average by 9.78% in ETH value or 30% in USD value.

    Full report from DappRadar here.