Headline: DappRadar Bids Farewell: The End of an Era in On-Chain Analytics Due to Market Instability

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

«After seven years, it’s time to say goodbye. We have made the difficult decision to shut down 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 grew to be one of the leading analytical platforms for tracking on-chain activity, providing data ranging from NFT marketplaces to DeFi protocol metrics.

In the coming days, the team will begin the process of winding down, gradually disabling blockchain tracking and dapps.

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

Information regarding the future of the DAO and the RADAR token will be shared by the platform’s team at a later time.

Following the announcement, the DappRadar token plummeted by 8% in a single day, according to CoinGecko.

It’s worth noting that in August, the MEV protocol Eden Network announced its shutdown due to intense competition within the sector and high operational expenses.