DappRadar, one of the most recognized blockchain analytics platforms since 2018, has announced that it will shut down operations due to mounting financial pressure. The decision marks the end of a major Web3 data hub that served millions of users across the decentralized ecosystem.
Founders Skirmantas Januskas and Dunica Dragos confirmed the shutdown in a message to users, explaining that despite exploring several alternatives, the platform has become financially unsustainable. The team will now begin winding down all services in the coming days, including blockchain tracking, decentralized application analytics, user metrics, and ecosystem dashboards.
The founders also stated that updates regarding the DAO and RADAR token will be shared through community channels, where final decisions will be made with community involvement.
A Key Pillar of Web3 Analytics Since 2018
Launched in 2018, DappRadar became widely known as the World’s Dapp Store, offering near real-time analytics across over 90 blockchains. It provided reliable metrics on active users, volumes, transactions and trends across DeFi, NFTs, gaming and metaverse projects.
Over the years, the platform built a reputation for delivering trustworthy insights during both bull and bear markets. Its dashboards, rankings and data feeds were used by retail investors, blockchain developers, researchers and global media outlets.
DappRadar also expanded its offerings with tools such as:
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Token and NFT portfolio trackers
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Discovery tools including quests and airdrops
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In-depth research content
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Multi-language analytics and reports
The founders noted that they collaborated with hundreds of blockchain partners and thousands of Web3 projects, contributing heavily to the industry’s growth and transparency.
Market Challenges Made the Business Model Unsustainable
DappRadar’s growth was supported by venture funding. The company raised $7.33 million across two funding rounds, including a $5 million Series A in 2021 led by Prosus Ventures and Lightspeed Venture Partners.
These funds helped expand infrastructure during a period of rapid crypto adoption. However, as market activity slowed across DeFi, NFTs and gaming, analytics platforms tied to user cycles were hit hard. Revenues dropped while operational costs remained high, ultimately forcing the shutdown.
The founders described the closure as “difficult but necessary,” thanking users, partners and investors for years of support and encouraging others to continue building in the decentralized analytics space.
With DappRadar’s exit, the Web3 ecosystem loses a major player, leaving room for competitors and new startups to fill the analytic gap as the industry works toward more resilient business models.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are volatile and risky. Always conduct your research before making any investment decisions.
