In the first quarter of 2024, decentralized applications (dApps) saw a 77% increase, and the number of daily active user wallets reached 7 million. 🚀 This growth came as Bitcoin reached an all-time high in the first quarter of 2024, exceeding $73,000. 📈

According to DappRadar, this increase in new users marks the end of the longest-running bear market. The growth is attributed to the US approval of spot Bitcoin exchange-traded funds (ETFs), which has pushed BTC to new all-time highs.

In the first quarter of 2024, the social vertical stood out with a 324% increase in the sector's growth. While decentralized finance, gaming and NFTs are performing well, the rise in social media dApps suggests that a new trend may be emerging in the industry.

However, in the first quarter of 2024, the blockchain space suffered a loss of $407 million due to cheats and exploits. This amount represents a 32% decrease from Q4 2023 and a 9% increase from Q1 2023, indicating that security issues remain.

Ripple co-founder Chris Larsen's Ripple chain account was breached, resulting in the loss of 213 million XRP tokens worth approximately $112.5 million. Another incident occurred with the hacking of the Munchables protocol, which led to the loss of 17.4k ETH worth $62.5 million. Additionally, the exchange industry was hit after BitForex was allegedly involved in an exit scam with $56.5 million in questionable outflows across various blockchains.