Firm Shuts Down, Citing ‘Financially Unsustainable’ Market

DappRadar, a once widely-used platform for tracking decentralized applications, announced via its X account on Monday that it will be shutting down.

Launched in 2018, the platform had grown into one of the most prominent analytics hubs for on-chain activity, reporting on everything from NFT markets to DeFi flows across dozens of blockchains.

The team shared that running the platform became “financially unsustainable in the current environment, and after exploring every option, we had to make the difficult decision to wind things down.”

As for the DAO and the RADAR token, the team didn’t share any additional information on what would happen, but said that decisions around those would be communicated through the appropriate channels.

The RADAR token is down 36% since the announcement was shared on Monday, according to CoinMarketCap, reflecting market uncertainty as token holders wait for further guidance.

Read more: July Was a Terrible, No Good, Very Bad Month For NFTs, DappRadar Report Shows