Web3 Gaming Rises, DeFi Endures Amid Crypto Market Slump
October’s crypto market slump failed to dent Web3 gaming growth and DeFi resilience, according to DappRadar. Web3 gaming accounted for 27.9% of unique active wallets, drawing over 4.5 million daily users—a 1% monthly increase. The report noted that innovation and improved user experiences have fueled Web3 gaming’s countertrend expansion. This surge drove NFT trading volume to $546 million in October. DeFi dApps held an 18.4% share, led by Pump.fun (4.29M UAW) and Jupiter Exchange (1.93M UAW), despite TVL slipping to $221 billion from $235 billion following a $20 billion market crash and multiple exploits.
AI DApps now represent 14.2% of activity, while social protocols and other emerging sectors bolster the decentralized application ecosystem. Separately, Allied Market Research forecasts the metaverse market will climb from $41.9 billion in 2020 to $1.2 trillion by 2030, driven by VR/AR, blockchain, and NFTs. Gaming remains the top metaverse use case, with content creation and social platforms set to achieve the highest CAGR. Major firms such as Alibaba, ByteDance, and Meta lead the charge, even as privacy, interoperability, and pricing concerns persist.
Bullish
The DappRadar report underscores resilience and growth in Web3 gaming and DeFi during a broader market downturn. Historical parallels—such as the 2021 market correction when gaming and NFT sectors outperformed—suggest that innovation-led segments can attract capital even in declines. A 1% month-on-month rise in daily active wallets and $546 million in NFT volume signal renewed trader interest. In the short term, tokens tied to Web3 gaming and DeFi may see inflows as traders rotate into high-engagement, yield-oriented sectors. Over the long term, sustained user growth and TVL recovery could reinforce fundamental valuations, supporting a bullish outlook for these niches.