Popular analytics platform DappRadar, a provider of data on the decentralized application (DApp) industry, has announced it is shutting down after nearly seven years of operation.
Founders DappRadar Skirmantas Januškas and Dragos Dunica announced on social media that they would be shutting down their platform. They stated that «under current conditions, running a platform of this scale has become financially unviable,» and therefore plan to cease tracking blockchains and decentralized applications in the coming days, once the shutdown process begins.
Their post also stated that DappRadar will separately report on what will happen next with its own RADAR token and the decentralized autonomous organization (DAO).
Immediately after the announcement of the closure, the price of the cryptocurrency fell by approximately 30% and at the time of publication was trading at $0,00072 (data from Nansen).
The largest platform DappRadar, which tracks and analyzes decentralized applications on various blockchains, was founded in 2018. It tracks more than 12,000 DApps across 50 blockchains, including Ethereum,BSC, Polygon, avalanche, Fantom, Flow and Cardano. DappRadar Provides detailed analytics on DApps performance, user activity, and market trends.