Blockchain analytics platform DappRadar announced on Monday that it will be shutting down after seven years, saying financial issues and an inability to continue in the current business environment were the main reasons.
“We’ve made the difficult decision to shut down the DappRadar platform. Running a platform of this scale became financially unsustainable in the current environment, and after exploring every option, we had to make the difficult decision to wind things down,”
DappRadar said in its official statement that it has been in the Web3 space for seven years, working with hundreds of blockchain companies and projects across the span of its operations.
The update was posted on X by the platform amid a crypto market crash that was first registered as an eventual slowing down of BTC momentum on Monday, which eventually led to a dip of 5.25% where BTC’s price was recorded at a low of $89,900 on Tuesday. The fall in value created massive liquidations in the market, estimated at $600 billion.
DappRadar’s reports on the Web3 and blockchain market have been instrumental in providing insights to researchers and readers interested in understanding relevant fluctuations in the industry.
The analytics platform pointed out key trends this year such as the rise of AI-powered apps and the decline of Web3 gaming, especially in April, when it hit its lowest point in 2025 so far of 4.8 million daily Active Unique Wallets. In September, another DappRadar report said that roughly 88% of crypto airdrops, including the ones which are linked to NFTs, lose value within three months.