BLOCKCHAIN ANALYTICS SITE DAPPRADAR ANNOUNCES SHUTDOWN OVER BUDGET ISSUES
DappRadar, one of the long-running platforms for tracking Web3 trends and decentralized apps, has announced that it will be closing down after seven years of operation. The team said the service can no longer remain financially viable, even after considering several possible solutions.
RIPPLE INVESTS $4 BILLION TO GROW ITS NETWORK—IS XRP HEADING TO $5?
In a note sent to users on Monday, founders Skirmantas Januskas and Dunica Dragos confirmed that the website and all related features will be taken offline in the coming days. This includes DappRadar’s blockchain and dapp monitoring tools.
They also mentioned that updates regarding the future of the DAO and the RADAR token will be shared soon through community channels. Final decisions have not yet been made, and community members will be invited to help shape what happens next.
DappRadar’s Contribution to Web3: Real-Time Insights Across Blockchains
DappRadar delivered real-time data on DeFi, NFT, gaming, and metaverse projects, becoming a trusted guide for millions navigating the ups and downs of the Web3 world. The team said their mission was to bring clarity and reliability to a fast-moving industry—and they believe they succeeded.
Created in 2018, the platform earned the nickname “World’s Dapp Store” for its wide coverage of more than 90 blockchains. It provided instant metrics on user activity, transactions, and trading volume across decentralized applications.
In addition to rankings and analytics dashboards, DappRadar introduced tools for tracking token and NFT portfolios, along with discovery features such as quests and airdrops. Its multilingual research reports were frequently used by developers, investors, academics, and media outlets.
According to the founders, they collaborated with hundreds of blockchains and thousands of projects over seven years, with DappRadar’s data powering newsrooms, research studies, and market insights around the world.
Market Shifts Made It Hard for DappRadar to Sustain Its Business
DappRadar’s rapid growth was supported by outside investment. The company raised around $7.33 million across two funding rounds, including a $5 million Series A in May 2021 led by Prosus Ventures and Lightspeed Venture Partners. Other participants included Mastercard Lighthouse, BaltCap, Blockchain Ventures, JBIC IG Partners, and NordicNinja VC.
CRYPTO FUNDS FAVOR SOLANA OVER BITCOIN AND ETHEREUM, DRIVING SOL MOMENTUM
These resources helped the platform expand its data coverage and introduce new features at a time when crypto usage and speculation were booming. As more people explored decentralized apps, DappRadar’s rankings and analytics tools became increasingly popular.
However, shifting market conditions eventually made the environment difficult for analytics platforms that depend heavily on activity cycles. Revenues tightened, operating costs rose, and the founders said that closing the platform was a hard but unavoidable decision.
They expressed gratitude to the community, partners, and investors for their support over the years and encouraged others to continue building tools that help users discover decentralized applications.
With DappRadar’s shutdown, one of Web3’s most recognized analytics hubs leaves the space—creating an opening for competitors and new innovators as the industry looks for more resilient business models.
FAQs
1. Why is DappRadar shutting down?
DappRadar is closing because the platform is no longer financially sustainable, even after exploring different options to stay operational.
2. What services will be discontinued?
All website features, including blockchain tracking and dapp analytics tools, will be taken offline in the coming days.
3. When was DappRadar launched?
DappRadar launched in 2018 and operated for seven years as a major Web3 analytics platform.
4. How much funding did DappRadar raise?
The company raised about $7.33 million across two rounds, including a $5 million Series A in 2021.
5. What impact did DappRadar have on Web3?
DappRadar became a key data source across more than 90 blockchains, supporting developers, investors, academics, and media with real-time insights and research.
