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Strong January Performance: WAX Sees 145% Growth

Posted by
Robert Hoogendoorn

Lack of gas fees beneficial for gaming

January has been a tremendous month for the Wax blockchain as their daily active wallets grew from 9.000 to almost 21.000. That’s 145.9% growth month-over-month. This made WAX the best performer among the established blockchain platforms according to the Dapp Industry Report for January 2021 by DappRadar.

The launch of Alien Worlds in December pushed the growth of WAX to new heights. Currently 8 thousand wallets interact with the game on a daily basis. Alien Worlds has been the fastest growing dapp on WAX with 10.7 thousand active wallets and almost 19 million transactions. 

At the same time the Atomic Market marketplace is a premier destination for every user on the WAX blockchain. The marketplace attracted 11 thousand wallets during the month.

In recent months WAX has been connects its ecosystem to the decentralized finance (DeFi) world on the Ethereum blockchain. Unique tokenomics allow WAX tokenholders to get tokens on the Ethereum blockchain. This way WAX users can tap into the DeFi developments on the Ethereum blockchain. This DeFi bridge and the increased activity on their blockchain, are big wins for WAX.

The success of WAX can’t be seen separately from the troubles on the Ethereum blockchain. A game like Alien Worlds can use the WAX blockchain without users needing to worry about gas fees. On the Ethereum blockchain however, games need to move to layer-2 solutions to circumvent the problem. Matic has become a go-to solution for many developers, while others built their own custom sidechain

Despite the gas fees, Ethereum has seen stable user activity as more than 60 thousand wallets use Ethereum daily. According to the DappRadar Dapp Industry Report 99 percent of all activity on Ethereum came from DeFi applications. Especially Compound and Uniswap had notable success, while SushiSwap is catching up. Activity on EOS has been stable, while Tron saw a slight drop in activity.

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