Founders Cite Financial Pressure as Reason for Closure
The founders of DappRadar, Skirmantas Januškas and Dragos Dunica, stated that the platform could no longer sustain its operations because its costs had exceeded the team's capacity to support them. They indicated that the tracking services for dapps and blockchains would cease functioning in the coming days as the shutdown process commences.
This announcement followed a post on X, where the DappRadar team conveyed that all possible avenues were explored before reaching the decision to close. The subsequent focus of their communication shifted to the RADAR token and the DappRadar DAO.
According to the founders, both the RADAR token and the DAO will be managed separately through community channels. However, specific details regarding these channels and the timeline for further updates have not yet been provided, leaving users awaiting further direction.
The news of the shutdown had an immediate impact on the market. The RADAR token experienced a notable decline, falling to approximately $0.00067 at the time of reporting. This market reaction underscored concerns about the project's remaining assets.
Analysis of DappRadar's Treasury
DappRadar's treasury holds approximately $1,648,499 in assets. A significant portion of these holdings, $1,602,301, is comprised of RADAR tokens, representing about 97% of the total treasury value. The remaining assets include $46,162 in USDT, along with smaller amounts of Ethereum and SAFE tokens.
Previously, DappRadar had successfully raised $7.33 million through two funding rounds. The company secured a seed round of $2.33 million in September 2019, followed by a Series A round of $5 million in May 2021. Notable investors included Prosus and Lightspeed Venture Partners. Despite these investments, the company faced ongoing financial challenges, particularly in a market environment characterized by reduced activity and funding.
The platform's journey began in February 2018. It launched in the aftermath of the CryptoKitties phenomenon and subsequently expanded its coverage to include 18,111 dapps across 93 different blockchains. DappRadar served an estimated 500,000 monthly users, demonstrating its widespread adoption and importance within the decentralized application ecosystem.
Broader Context: Web3 Closures and Industry Trends
DappRadar's closure adds to a growing list of Web3 platforms that have ceased operations in 2025. This trend includes notable entities such as Exchange eXch, the NFT marketplace X2Y2, and the decentralized exchange Mango Markets. The common factors contributing to these shutdowns appear to be declining user activity, reduced access to funding, and increasing operational costs.
The announcement from DappRadar comes at a time when other analytics platforms in the sector, such as DeFiLlama, Dune Analytics, Token Terminal, and Artemis Terminal, continue to operate and grow. However, the departure of a significant aggregator like DappRadar represents a loss of a key resource for developers, researchers, and investors who monitor decentralized activity.
The broader crypto industry has experienced a mix of positive and negative developments this year. For instance, Stream Finance suspended withdrawals in November following a $93 million loss attributed to an external fund manager. In contrast, Polymarket announced a partnership with UFC on November 13, illustrating the varied momentum within the sector.
In their concluding remarks, the founders expressed their hope that other entities will continue to develop tools that empower users to explore decentralized applications. They also extended their gratitude to the community for their engagement and support over the past seven years, through both bull and bear market cycles.
DappRadar's decision to shut down after seven years is a direct consequence of severe financial pressures and limited treasury reserves. This closure impacts token holders, developers, and users who depended on its analytics across 93 blockchains. The company intends to address matters concerning the RADAR token and the DAO next, leaving the community awaiting further details.