DappRadar завершает свою работу: анализ причин закрытия Translation: DappRadar Closes Its Doors: An Analysis of the Reasons Behind the Shutdown

The analytical platform DappRadar has made the decision to cease its operations, citing the «financial instability» of the market.

«After seven years, it’s time to say goodbye. We have made the difficult choice to close DappRadar. Launching a platform of this scale under the current conditions has become financially unviable,» the statement reads.

The project was initiated in 2018 and has become one of the largest analytic services for monitoring on-chain activity, providing data ranging from NFT markets to DeFi protocol metrics.

In the coming days, the team will begin the winding-down process, gradually shutting down blockchain tracking and decentralized applications.

«As we depart, we do so knowing we made the right decision, remained true to our principles, and brought genuine benefits to the industry,» the team emphasized.

Further information regarding the future of the DAO and the RADAR token will be provided by the platform’s team later.

In light of the news, the DappRadar token saw a decline of 8% over the course of a day, according to CoinGecko.

It is worth noting that in August, the MEV protocol Eden Network announced its closure, citing intense competition in the sector and high operational costs.