Web3 & Blockchain·Updated Mar 17, 2026 by DappRadar
Ethereum maintained market dominance in January 2021 with $112 billion in transaction volume, representing 86% of total blockchain activity and over $30 billion in total value locked.
The NFT sector experienced explosive growth, with Ethereum-based NFT volume increasing tenfold to $33 million, while Flow’s NBA Top Shot surpassed all Ethereum platforms to lead the market with over $40 million in sales.
Binance Smart Chain recorded its strongest performance to date, processing over $15 billion in transaction volume and achieving the highest number of unique active wallets, driven primarily by Venus and PancakeSwap.
Ethereum's DeFi ecosystem remained the primary driver of its activity, accounting for 99% of its network usage with Uniswap and 1inch as the leading platforms.
High gas fees caused by Ethereum's scalability constraints accelerated a migration toward alternative layer-1 blockchains and layer-2 solutions like Matic.
The Wax blockchain’s gaming dapp, Alien Worlds, demonstrated rapid adoption by reaching 8,000 daily active wallets during the month.
Ethereum maintained market dominance in January 2021 with $112 billion in transaction volume, representing 86% of total blockchain activity and over $30 billion in total value locked.
The NFT sector experienced explosive growth, with Ethereum-based NFT volume increasing tenfold to $33 million, while Flow’s NBA Top Shot surpassed all Ethereum platforms to lead the market with over $40 million in sales.
Binance Smart Chain recorded its strongest performance to date, processing over $15 billion in transaction volume and achieving the highest number of unique active wallets, driven primarily by Venus and PancakeSwap.
Ethereum's DeFi ecosystem remained the primary driver of its activity, accounting for 99% of its network usage with Uniswap and 1inch as the leading platforms.
High gas fees caused by Ethereum's scalability constraints accelerated a migration toward alternative layer-1 blockchains and layer-2 solutions like Matic.
The Wax blockchain’s gaming dapp, Alien Worlds, demonstrated rapid adoption by reaching 8,000 daily active wallets during the month.