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DappRadar, the onchain analytics platform launched in 2018, announced it will shut down operations.
What's the scoop?
- No Further Details on Assets: The team provided no immediate information on the future of its DAO or $RADAR token, stating updates would come through appropriate channels.
- Token Reaction: The $RADAR token dropped 36% following the Monday announcement, according to CoinMarketCap data.
Bankless Take:
Over the past few years, the analytics space has become particularly more competitive as onchain data has become more standardized and available, with more and more teams debuting products that make sense of the massive amount of data available on blockchains. Further, with institutions coming onchain, it’s easy to imagine that many are turning to internal data analysis or seeking partnerships with large teams like DeFiLlama or Artemis who may be able to meet a more specific and uniquely tailored set of data needs.
