DappRadar's co-founders announce they will wind down operations after seven years

DappRadar’s co-founders, Skirmantas Januškas and Dragos Dunica, have announced via X that the platform plans to wind down operations after seven years. 

The team made the announcement in a statement where they reflected on a mix of pride in what they were able to achieve as a platform and exhaustion from market pressures. The closure heralds the loss of a well-known provider of data, rankings, and insights for dapps across multiple blockchain networks.

Why DappRadar is packing up

According to what the founders shared on X on Monday, the shutdown is happening because running the platform as it is has become “financially unsustainable in the current environment,” and its tracking services, which covered blockchains and Dapps, will be taken offline in the coming days, as the shutdown begins. 

“After seven years, it’s time to say goodbye. We’ve made the difficult decision to shut down the DappRadar platform. Running a platform of this scale became financially unsustainable in the current environment, and after exploring every option, we had to make the difficult decision to wind things down,” the team wrote on X. 

According to the post, which has been viewed over 300,000 times, the platform plans to inform its users separately on what will happen to its native RADAR token and its decentralized autonomous organization (DAO). It also revealed that there are decisions to be made regarding the token and the DAO and that it was interested in hearing from the community. 

Following the announcement, the token price took a nosedive of about 40% immediately, reaching as low as $0.00064, according to data from Nansen. 

For now, it is unclear what will come next for the team at DappRadar. However, in their announcement, they expressed hope that the mission to help people understand and better explore decentralized apps will not end with the shutdown and that someone will pick up where they’ve left off and “carry the torch forward.”

The team believes DeFi is a core pillar of finance, and even though funding has been cooling and exploit-related losses have surged this year, there is space for more growth and recovery. 

DappRadar is not the only DeFi protocol to shut down recently 

The shutdown of DappRadar is a big blow to the DeFi space; the platform had aggregated crucial metrics that helped users avoid rugs and stay ahead of the bots as they analyzed Web3 projects. Still, its shutdown is not an isolated case in the DeFi sector and comes on the heels of a broader wave of Web3 shutdowns this year, which has affected exchanges like eXch, NFT marketplaces like X2Y2, and DeFi protocols like Mango Markets.

eXch was privacy-focused and famous for encouraging anonymous trading, but it announced permanent closure in May of 2025 amid intense regulatory scrutiny. The platform first opened shop in 2021 and handled millions in volume before it came under fire for helping hackers launder billions in the February hack that targeted Bybit, an ordeal it could not recover from. 

As far as NFT marketplaces go, X2Y2 was one of the most popular; founded in 2022 pseudonomously, it stood out with its low fees and royalty enforcement tools and was even touted as a threat to Opensea at some point, with its $5.6B in all-time volume. Unfortunately, that was when the NFT sector was on the up and up. It has been in a bear market for a long time now, and X2Y2 has not fared well. 

Mango Markets used to be a hot venue for DeFi lending and perps trading on Solana, but it fully shut down in January of this year, following a unanimous governance approval that felt inevitable after the exploit that rocked the protocol in October 2022. 

These are only some of the notable platforms in crypto that have shut down this year; there are many more, and a lot come from the gaming sector, which is currently suffering as VC funds are busy chasing shiny new things like the AI sector. 

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