DappRadar Shuts Down After Seven Years as Crypto Downturn Deepens
DappRadar, the long-running Web3 and DeFi analytics platform often described as the “homepage of decentralised apps,” has announced it is shutting down after seven years of operation.
The closure comes amid a prolonged crypto bear market that has strained many blockchain companies. According to DappRadar’s founders, running the platform had become financially unsustainable despite exploring every possible alternative.
The announcement was made in an X post on Monday, officially marking the end of a platform that once tracked millions of users and thousands of decentralised applications across numerous blockchains.
Seven Years of Tracking the Decentralised World
Founded in 2018 during Ethereum’s early DApp boom, DappRadar emerged as one of the most trusted sources of on-chain analytics. At its peak, it tracked tens of thousands of decentralised applications across more than 90 blockchains, covering sectors such as DeFi, NFTs, gaming, and Web3 infrastructure.
The platform reportedly served around 500,000 monthly users, becoming a go-to resource for journalists, developers, investors, and researchers.
Despite its influence, the company struggled financially. DappRadar was burning approximately $15,500 per month and had only three months of stablecoin runway left. While its treasury held around $1.6 million in assets, almost all of it was in the platform’s own RADAR token, which plunged by about 36% shortly after news of the shutdown.
Services to Wind Down Gradually
In its announcement, DappRadar said it would begin gradually shutting down its core services, including data tracking, its portfolio tracker, and airdrop tracker. The future of its DAO and RADAR token will be determined through community channels, with the team inviting stakeholders to participate in upcoming discussions.
A Sudden End Despite New Innovations
The shutdown came as a surprise to many because the team had recently teased a major technical milestone: a cross-chain staking mechanism for RADAR, enabling staking across multiple blockchains without bridges or high network fees.
However, despite the promising development, macroeconomic pressure and weakening user adoption outweighed the progress.
Web3 Industry Faces Mounting Challenges
DappRadar’s exit highlights the growing challenges facing independent Web3 data companies. As venture funding slows and market activity declines, more platforms are being forced to close or consolidate.
The analytics platform is not alone. In the past few months:
- Layer-1 blockchain Kadena announced it was winding down.
- Decentralised exchange Bunni shut down after an $8.4 million exploit wiped out its liquidity.
These closures underscore the severity of the ongoing downturn in the Web3 ecosystem.
Community Reacts With Sadness
Long-time users and industry leaders have expressed disappointment at the news, with many noting that DappRadar provided irreplaceable data and insight. Some worry that its departure could weaken transparency across the Web3 sector, making it harder for newcomers and developers to understand activity on decentralised networks.
As the platform winds down operations, the Web3 community faces the challenge of navigating an increasingly fragile analytics landscape—one missing a key player that had helped define an era of decentralised innovation.
