DappRadar, a platform once widely used for tracking decentralized applications, announced via its X account on Monday that it was shutting down.
Launched in 2018, the platform has become one of the most important 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 had become “financially unsustainable in the current environment, and after exploring all options, we had to make the difficult decision to end things.”
Regarding the DAO and the RADAR token, the team did not share any additional information on what would happen, but stated that decisions regarding them would be communicated through the appropriate channels.
The RADAR token is down 36% since the announcement on Monday, according to CoinMarketCap, reflecting market uncertainty as token holders await further guidance.
Read more: July was a terrible, no good, very bad month for NFTs, says DappRadar report
