DappRadar, a platform once widely used to track decentralized applications, announced via its X account on Monday that it is shutting down.
Launched in 2018, the platform had become 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 all options, we had to make the difficult decision to shut things down.”
Regarding the DAO and the RADAR token, the team did not share any additional information about what would happen, but said that decisions regarding this 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 await further guidance.
Read more: July was a terrible, bad, very bad month for NFTs, DappRadar report shows
