The decentralized application industry experienced a growth of 9.97% in May, with an average of 1,967,051 daily unique active wallets. The gaming and decentralized finance (DeFi) sectors were the main drivers of growth, although DeFi saw a decline in total value locked.

The gaming sector dominated with 36% of all dapp activity, while DeFi had a 31% market share. However, there was a decline in DeFi total value locked, dropping to $79.16 billion. Despite this, the crypto market traded mostly sideways in May, with low volumes and volatility.