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AI and Social Dapps Lead Growth as Crypto Market Cools Post-Trump Election
The crypto market has experienced a significant downturn in the wake of Trump’s presidency, but despite this, decentralized applications (dApps) have managed to maintain their strength. A recent report from Dapp Radar suggests that AI and social dApps have emerged as top performers, defying expectations.
In the first quarter of 2025, the overall user base for decentralized apps has remained relatively stable, with daily unique active wallets (dUAW) dropping only by a small margin to 24 million. This indicates that despite the market volatility, users are still engaging with these applications at an impressive rate.
It’s worth noting that DeFi suffered a significant blow in Q1, falling victim to reduced trading activity from the previous quarter. Dapp Radar attributed this decline to lower trading volume, resulting in a 15% drop. Blockchain gaming also witnessed a minor slump, but AI and social dApps continued to buck the trend.
The top-performing category was found to be AI with a staggering 29% rise in activity. This growth is attributed to its increased adoption across various sectors, including finance and healthcare. These applications allow for tasks such as portfolio management and personalized recommendations, which are now more crucial than ever amid market uncertainty.
Social dApps also made significant strides, experiencing a 10% increase in user engagement. This may be due to their ability to foster community building and social interaction. As the world faces unprecedented uncertainty with Trump’s presidency, users may be seeking solace in these platforms.
Solana, a Layer 1 network, has managed to dominate the top dApps, powering three of the five top platforms. Pump.fun, an application allowing for token launches on Solana, witnessed an impressive 112% increase in usage this quarter. This surge is thought to be driven by the hype surrounding meme coins, which is not surprising given the current market conditions.
In contrast, NFTs have cooled significantly, with trading volume dropping a staggering 22%. OKX took top spot for NFT trading volume, but OpenSea outperformed it in terms of transactions. Blur’s volume and sales were decent but lagged behind both OKX and OpenSea.
The results demonstrate that despite the market downturn, there is still significant demand for decentralized applications. This resilience could be attributed to their ability to adapt to changing market conditions, offering innovative solutions to users.
Source: https://cryptopotato.com/ai-and-social-dapps-lead-growth-as-crypto-market-cools-post-trump-election/
