The Q2 2022 CoinGecko Cryptocurrency Report provides an overview of the key events and trends in the cryptocurrency market during the second quarter. Some of the major developments include the collapse of the Terra ecosystem and its algorithmic stablecoin UST in May, which contributed to the decline of the overall crypto market cap by over 50% and the liquidation of major players like Three Arrows Capital. Bitcoin and Ethereum prices fell sharply but mining activity and development continued. DeFi activity remained robust despite declining token prices. NFT trading volumes also declined from the peak but blue-chip NFT floor prices held steady.
Network effects. It’s one of the most important concepts for business in general and especially for tech businesses, as it’s the key dynamic behind many successful software-based companies. Understanding network effects not only helps build better products, but it helps build moats and protect software companies against competitors’ eating away at their margins.
Yet what IS a network effect? How do we untangle the nuances of 'network effects' with 'marketplaces' and 'platforms'? What’s the difference between network effects, virality, supply-side economies of scale? And how do we know a company has network effects?
Most importantly, what questions can entrepreneurs and product managers ask to counter the wishful thinking and sometimes faulty assumption behind the belief that “if we build it, they will come” … and instead go about more deterministically creating network effects in their business? Because it's not a winner-take-all market by accident.
2022 has proven to be a tumultuous year for crypto - the total crypto market cap lost more than half its value, ending the year at $829 billion, marking the start of another crypto winter, after two years of bull market exuberance. NFTs and DeFi are among the hardest hit, and BTC recorded a steep decline of 64.2% since January 2022.
Our comprehensive 2022 Annual Crypto Industry Report covers everything from the crypto market landscape to analyzing Bitcoin and Ethereum, deep diving into the Decentralized Finance (DeFi) and Non-Fungible Token (NFT) ecosystem and reviewing the Centralized Exchanges (CEX) and Decentralized Exchanges (DEX) performance.
2023 Annual Crypto Industry Report | CoinGeckoCoinGecko
In the fourth quarter of 2023, the crypto market experienced a surge in anticipation related to ETFs, particularly with the growing optimism surrounding the potential approval of US spot Bitcoin ETFs. This optimism contributed to a bullish market sentiment, leading to a significant increase in the total crypto market cap from $1.1 trillion to $1.6 trillion, marking a 55% rise. During this period, the price of Bitcoin soared from $27,000 to $42,000.
When considering the entire year of 2023, the crypto market witnessed substantial growth, more than doubling its total market cap from $832 billion at the beginning of the year. This remarkable expansion was primarily driven by Bitcoin's impressive resurgence, experiencing a 2.6x increase. After the challenges and stagnation experienced in 2022, 2023 proved to be a robust year of recovery for the crypto industry.
Our comprehensive 2023 Crypto Industry Report covers everything from the crypto market landscape to analyzing Bitcoin and Ethereum, deep diving into the decentralized finance (DeFi) and non-fungible token (NFT) ecosystems, and reviewing how centralized exchanges (CEX) and decentralized exchanges (DEX) have performed.
Network effects. It’s one of the most important concepts for business in general and especially for tech businesses, as it’s the key dynamic behind many successful software-based companies. Understanding network effects not only helps build better products, but it helps build moats and protect software companies against competitors’ eating away at their margins.
Yet what IS a network effect? How do we untangle the nuances of 'network effects' with 'marketplaces' and 'platforms'? What’s the difference between network effects, virality, supply-side economies of scale? And how do we know a company has network effects?
Most importantly, what questions can entrepreneurs and product managers ask to counter the wishful thinking and sometimes faulty assumption behind the belief that “if we build it, they will come” … and instead go about more deterministically creating network effects in their business? Because it's not a winner-take-all market by accident.
2022 has proven to be a tumultuous year for crypto - the total crypto market cap lost more than half its value, ending the year at $829 billion, marking the start of another crypto winter, after two years of bull market exuberance. NFTs and DeFi are among the hardest hit, and BTC recorded a steep decline of 64.2% since January 2022.
Our comprehensive 2022 Annual Crypto Industry Report covers everything from the crypto market landscape to analyzing Bitcoin and Ethereum, deep diving into the Decentralized Finance (DeFi) and Non-Fungible Token (NFT) ecosystem and reviewing the Centralized Exchanges (CEX) and Decentralized Exchanges (DEX) performance.
2023 Annual Crypto Industry Report | CoinGeckoCoinGecko
In the fourth quarter of 2023, the crypto market experienced a surge in anticipation related to ETFs, particularly with the growing optimism surrounding the potential approval of US spot Bitcoin ETFs. This optimism contributed to a bullish market sentiment, leading to a significant increase in the total crypto market cap from $1.1 trillion to $1.6 trillion, marking a 55% rise. During this period, the price of Bitcoin soared from $27,000 to $42,000.
When considering the entire year of 2023, the crypto market witnessed substantial growth, more than doubling its total market cap from $832 billion at the beginning of the year. This remarkable expansion was primarily driven by Bitcoin's impressive resurgence, experiencing a 2.6x increase. After the challenges and stagnation experienced in 2022, 2023 proved to be a robust year of recovery for the crypto industry.
Our comprehensive 2023 Crypto Industry Report covers everything from the crypto market landscape to analyzing Bitcoin and Ethereum, deep diving into the decentralized finance (DeFi) and non-fungible token (NFT) ecosystems, and reviewing how centralized exchanges (CEX) and decentralized exchanges (DEX) have performed.
Non-fungible tokens or NFTs are part of a multi-billion dollar industry that seems to be growing steadily. NFT has been on the market for a few years but in the recent past, the mainstream has been known in the market. They are incomparable or “one-of-a-kind” digital assets that can determine ownership and determine the value of an original digital asset such as original images, videos, or audio.
2023 Q1 Crypto Industry Report | CoinGeckoCoinGecko
A new year brings new beginnings, as the crypto market woke from its end-2022 hibernation to shake off the bears, increasing 48.9% from a total market cap of $831.8B on Jan 1, 2023 to $1.238T on Mar 31, 2023. While it was not smooth sailing all the way, this run reversed losses stemming from FTX’s collapse, returning the market to heights before the Ethereum Merge. Prices of Bitcoin (BTC) and Ethereum (ETH) are now hovering around $28,000 and $1,800 respectively, with BTC performing particularly well, gaining close to 70% this quarter.
Our comprehensive 2023 Q1 Crypto Industry Report covers everything from the crypto market landscape to analyzing Bitcoin and Ethereum, deep diving into the decentralized finance (DeFi) and non-fungible token (NFT) ecosystems, and reviewing how centralized exchanges (CEX) and decentralized exchanges (DEX) have performed.
These slides discuss Network Effects, Platforms, Standards, and Complex Systems. All of these concepts continue to become more important as the digital economy progresses. From Uber to Instacart, and from smart phones to driverless vehicles, these concepts are playing an increasingly important role in the global economy. Their impact is most obvious when one thinks of the winner take all markets that are becoming increasingly common.
With a wide range of DeFi expertise, RWaltz is leading the edge over competition offering decentralized finance development services. The DeFi development company delivers various DeFi projects to the financial sectors through cutting-edge technologies.
NFTs - Common Use Cases and Legal Considerations (Japan)Joerg Schmidt
The presentation outlines common use cases for NFTs, including digital art, collectibles, blockchain games, and IP management. Legal and regulatory considerations can be found on the last few slides.
THE METAVERSE IS POTENTIALLY AN $8 TRILLION TO $13 TRILLION OPPORTUNITY (Citibank):
We believe the Metaverse may be the next generation of the
internet — combining the physical and digital world in a persistent
and immersive manner — and not purely a Virtual Reality world.
A device-agnostic Metaverse accessible via PCs, game consoles, and
smartphones could result in a very large ecosystem. Based on our
definition, we estimate the total addressable market for the Metaverse
economy could grow to between $8 trillion and $13 trillion by 2030.
METAVERSE USE CASES:
Gaming is viewed as a key Metaverse use case for the next several years due to the immersive and multi-player
experience of the space currently. But we believe that the Metaverse will eventually help us find new enhanced ways to
do all of our current activities, including commerce, entertainment and media, education and training, manufacturing and
enterprise in general. Enterprise use cases of the Metaverse in the coming years will likely include internal collaboration,
client contact, sales and marketing, advertising, events and conferences, engineering and design, and workforce train
METAVERSE INFRASTRUCTURE BUILDING:
the current state, the internet infrastructure is unsuitable for building a fully-immersive content streaming Metaverse
environment, that enables users to go seamlessly from one experience to another. To make the vision of Metaverse a reality, we
expect significant investment in a confluence of technology. Low latency — the time it takes a data signal to travel from one point
on the internet to another point and then come back — is critical to building a more realistic user experience.
MONEY IN THE METAVERSE:
We expect the next generation of the internet, i.e., the Metaverse, would encapsulate a range of form factors of money, including
the existing/traditional forms of money and also upcoming/digitally-native forms — cryptocurrency, stablecoins, central bank
digital currencies (CBDCs) — that were out of scope in a pre-blockchain virtual world
This document is the copyright of its respective holders. It is freely available on the Internet to anyone who searches for it independently. It is provided here under the "Fair Use Doctrine of U.S. Copyright Law."
Decentralized finance is a distributed financial system where there is no centralized governing body. Decentralized finance or DeFi applications utilize peer-to-peer finance networks. These networks are powered by decentralized and distributed platforms. The DeFi application ecosystem is vast and it includes various types of apps such as wallets, lending platforms, infrastructure development suits etc.
As there are many DeFi applications on the market, finding the top applications can be a difficult process. Here, we will discuss the top 5 DeFi applications – AAVE, Compound, MakerDAO, Synthetix, and MetaMask.
These are some of the widely utilized applications on the market. If you want to learn more about decentralized finance applications, then we have you covered. 101 blockchains feature a blockchain course that focuses on decentralized finance and will help you understand the working mechanism of this new financial structure.
Learn more about the course from here ->
Introduction to DeFi Course
https://academy.101blockchains.com/courses/defi-course
Learn about additional courses and masterclasses for the finance sector ->
Blockchain in Finance Masterclass
https://academy.101blockchains.com/courses/blockchain-in-finance
Central Bank Digital Currency (CBDC) Masterclass
https://academy.101blockchains.com/courses/central-bank-digital-currency
Enterprise Blockchains and Trade Finance Course
https://academy.101blockchains.com/courses/enterprise-blockchains-and-trade-finance
We also offer lucrative certification courses for professionals. Learn more about these courses from here ->
Certified Enterprise Blockchain Professional (CEBP) course
https://academy.101blockchains.com/courses/blockchain-expert-certification
Certified Enterprise Blockchain Architect (CEBA) course
https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect
Certified Blockchain Security Architect (CBSE) course
https://academy.101blockchains.com/courses/certified-blockchain-security-expert
Read our full guide on this topic ->
https://101blockchains.com/decentralized-finance-applications/
https://101blockchains.com/top-defi-protocols/
https://101blockchains.com/top-defi-wallets/
https://101blockchains.com/best-defi-asset-management-tools/
https://101blockchains.com/decentralized-finance-tools/
Marty is the Principal Architect for Rakuten’s Blockchain Lab based in Belfast, de-mystifying the hype around blockchain and designing practical applications with the technology. Marty has worked primarily within FinTech, Payments and Banking with companies such as Lloyds Banking Group, CyberSource and Visa before joining a startup to develop a payments platform for Bitcoin.
The Hive Think Tank: The Content Trap - Strategist's Guide to Digital ChangeThe Hive
In this The Hive Think Tank talk Harvard Business School Professor of Strategy Prof. Bharat Anand shares his insights on the Digital innovation trends that are shaping the way organizations will act in the future.
In this talk, Professor Anand presents the findings from his forthcoming book. To answer these questions, Anand examines a range of businesses around the world, from Chinese internet giant Tencent to Scandinavian digital trailblazer Schibsted, from The New York Times to The Economist, and from talent management to the future of education.
Deep Diving Into ETH Liquid Staking | CoinGeckoCoinGecko
The launch of Ethereum's Beacon chain in December 2020 brought staking rewards to validators but required a hefty 32 ETH stake, prompting the emergence of pooled staking and Liquid Staking Derivatives (LSDs). By August 2023, LSD protocols accounted for 43.7% of the total 26.4 million ETH staked. Post-Shapella, LSD staking surged, causing long entry queues while exit queues remained minimal. Top 8 LSDs yielded an average of 4.4% APY since January 2022, with Frax leading. However, yields are expected to decrease as more ETH is staked.
LSDs have distributed about 100,000 ETH in quarterly staking rewards, capturing over half of all ETH emissions since late 2022. This growth has given rise to LSDFi, with Lybra, Pendle, and EigenLayer dominating the sector, growing by 58.7x since January 2023. Despite these gains, concerns about cartelization and concentration loom, prompting debates about self-limitation within the protocol and LSDs.
Join us as dive into the realm of ETH liquid staking, how LSDs have become one of the largest segments in DeFi, as well as the growth of the LSDFi sector.
Non-fungible tokens or NFTs are part of a multi-billion dollar industry that seems to be growing steadily. NFT has been on the market for a few years but in the recent past, the mainstream has been known in the market. They are incomparable or “one-of-a-kind” digital assets that can determine ownership and determine the value of an original digital asset such as original images, videos, or audio.
2023 Q1 Crypto Industry Report | CoinGeckoCoinGecko
A new year brings new beginnings, as the crypto market woke from its end-2022 hibernation to shake off the bears, increasing 48.9% from a total market cap of $831.8B on Jan 1, 2023 to $1.238T on Mar 31, 2023. While it was not smooth sailing all the way, this run reversed losses stemming from FTX’s collapse, returning the market to heights before the Ethereum Merge. Prices of Bitcoin (BTC) and Ethereum (ETH) are now hovering around $28,000 and $1,800 respectively, with BTC performing particularly well, gaining close to 70% this quarter.
Our comprehensive 2023 Q1 Crypto Industry Report covers everything from the crypto market landscape to analyzing Bitcoin and Ethereum, deep diving into the decentralized finance (DeFi) and non-fungible token (NFT) ecosystems, and reviewing how centralized exchanges (CEX) and decentralized exchanges (DEX) have performed.
These slides discuss Network Effects, Platforms, Standards, and Complex Systems. All of these concepts continue to become more important as the digital economy progresses. From Uber to Instacart, and from smart phones to driverless vehicles, these concepts are playing an increasingly important role in the global economy. Their impact is most obvious when one thinks of the winner take all markets that are becoming increasingly common.
With a wide range of DeFi expertise, RWaltz is leading the edge over competition offering decentralized finance development services. The DeFi development company delivers various DeFi projects to the financial sectors through cutting-edge technologies.
NFTs - Common Use Cases and Legal Considerations (Japan)Joerg Schmidt
The presentation outlines common use cases for NFTs, including digital art, collectibles, blockchain games, and IP management. Legal and regulatory considerations can be found on the last few slides.
THE METAVERSE IS POTENTIALLY AN $8 TRILLION TO $13 TRILLION OPPORTUNITY (Citibank):
We believe the Metaverse may be the next generation of the
internet — combining the physical and digital world in a persistent
and immersive manner — and not purely a Virtual Reality world.
A device-agnostic Metaverse accessible via PCs, game consoles, and
smartphones could result in a very large ecosystem. Based on our
definition, we estimate the total addressable market for the Metaverse
economy could grow to between $8 trillion and $13 trillion by 2030.
METAVERSE USE CASES:
Gaming is viewed as a key Metaverse use case for the next several years due to the immersive and multi-player
experience of the space currently. But we believe that the Metaverse will eventually help us find new enhanced ways to
do all of our current activities, including commerce, entertainment and media, education and training, manufacturing and
enterprise in general. Enterprise use cases of the Metaverse in the coming years will likely include internal collaboration,
client contact, sales and marketing, advertising, events and conferences, engineering and design, and workforce train
METAVERSE INFRASTRUCTURE BUILDING:
the current state, the internet infrastructure is unsuitable for building a fully-immersive content streaming Metaverse
environment, that enables users to go seamlessly from one experience to another. To make the vision of Metaverse a reality, we
expect significant investment in a confluence of technology. Low latency — the time it takes a data signal to travel from one point
on the internet to another point and then come back — is critical to building a more realistic user experience.
MONEY IN THE METAVERSE:
We expect the next generation of the internet, i.e., the Metaverse, would encapsulate a range of form factors of money, including
the existing/traditional forms of money and also upcoming/digitally-native forms — cryptocurrency, stablecoins, central bank
digital currencies (CBDCs) — that were out of scope in a pre-blockchain virtual world
This document is the copyright of its respective holders. It is freely available on the Internet to anyone who searches for it independently. It is provided here under the "Fair Use Doctrine of U.S. Copyright Law."
Decentralized finance is a distributed financial system where there is no centralized governing body. Decentralized finance or DeFi applications utilize peer-to-peer finance networks. These networks are powered by decentralized and distributed platforms. The DeFi application ecosystem is vast and it includes various types of apps such as wallets, lending platforms, infrastructure development suits etc.
As there are many DeFi applications on the market, finding the top applications can be a difficult process. Here, we will discuss the top 5 DeFi applications – AAVE, Compound, MakerDAO, Synthetix, and MetaMask.
These are some of the widely utilized applications on the market. If you want to learn more about decentralized finance applications, then we have you covered. 101 blockchains feature a blockchain course that focuses on decentralized finance and will help you understand the working mechanism of this new financial structure.
Learn more about the course from here ->
Introduction to DeFi Course
https://academy.101blockchains.com/courses/defi-course
Learn about additional courses and masterclasses for the finance sector ->
Blockchain in Finance Masterclass
https://academy.101blockchains.com/courses/blockchain-in-finance
Central Bank Digital Currency (CBDC) Masterclass
https://academy.101blockchains.com/courses/central-bank-digital-currency
Enterprise Blockchains and Trade Finance Course
https://academy.101blockchains.com/courses/enterprise-blockchains-and-trade-finance
We also offer lucrative certification courses for professionals. Learn more about these courses from here ->
Certified Enterprise Blockchain Professional (CEBP) course
https://academy.101blockchains.com/courses/blockchain-expert-certification
Certified Enterprise Blockchain Architect (CEBA) course
https://academy.101blockchains.com/courses/certified-enterprise-blockchain-architect
Certified Blockchain Security Architect (CBSE) course
https://academy.101blockchains.com/courses/certified-blockchain-security-expert
Read our full guide on this topic ->
https://101blockchains.com/decentralized-finance-applications/
https://101blockchains.com/top-defi-protocols/
https://101blockchains.com/top-defi-wallets/
https://101blockchains.com/best-defi-asset-management-tools/
https://101blockchains.com/decentralized-finance-tools/
Marty is the Principal Architect for Rakuten’s Blockchain Lab based in Belfast, de-mystifying the hype around blockchain and designing practical applications with the technology. Marty has worked primarily within FinTech, Payments and Banking with companies such as Lloyds Banking Group, CyberSource and Visa before joining a startup to develop a payments platform for Bitcoin.
The Hive Think Tank: The Content Trap - Strategist's Guide to Digital ChangeThe Hive
In this The Hive Think Tank talk Harvard Business School Professor of Strategy Prof. Bharat Anand shares his insights on the Digital innovation trends that are shaping the way organizations will act in the future.
In this talk, Professor Anand presents the findings from his forthcoming book. To answer these questions, Anand examines a range of businesses around the world, from Chinese internet giant Tencent to Scandinavian digital trailblazer Schibsted, from The New York Times to The Economist, and from talent management to the future of education.
Deep Diving Into ETH Liquid Staking | CoinGeckoCoinGecko
The launch of Ethereum's Beacon chain in December 2020 brought staking rewards to validators but required a hefty 32 ETH stake, prompting the emergence of pooled staking and Liquid Staking Derivatives (LSDs). By August 2023, LSD protocols accounted for 43.7% of the total 26.4 million ETH staked. Post-Shapella, LSD staking surged, causing long entry queues while exit queues remained minimal. Top 8 LSDs yielded an average of 4.4% APY since January 2022, with Frax leading. However, yields are expected to decrease as more ETH is staked.
LSDs have distributed about 100,000 ETH in quarterly staking rewards, capturing over half of all ETH emissions since late 2022. This growth has given rise to LSDFi, with Lybra, Pendle, and EigenLayer dominating the sector, growing by 58.7x since January 2023. Despite these gains, concerns about cartelization and concentration loom, prompting debates about self-limitation within the protocol and LSDs.
Join us as dive into the realm of ETH liquid staking, how LSDs have become one of the largest segments in DeFi, as well as the growth of the LSDFi sector.
2024 Q1 Crypto Industry Report | CoinGeckoCoinGecko
After a strong 2023 Q4, the total crypto market cap continued rallying by +64.5% in 2024 Q1, reaching a high of $2.9 trillion on March 13.
In absolute terms, the growth of this quarter (+$1.1 trillion) was almost double that of the previous quarter (+$0.61 trillion). This was largely driven by the approval of US spot Bitcoin ETFs in early January, sending BTC to a new all-time high in March.
Our comprehensive 2024 Q1 Crypto Industry Report covers everything from the crypto market landscape to analyzing Bitcoin and Ethereum, deep diving into the decentralized finance (DeFi) and non-fungible token (NFT) ecosystems, and reviewing how centralized exchanges (CEX) and decentralized exchanges (DEX) have performed.
We’ve summarized the key highlights, but be sure to dig into the full 50 slides below.
2023 Q2 Crypto Industry Report | CoinGeckoCoinGecko
After the exuberance of Q1, the crypto market took Q2 to consolidate the gains and increased slightly by 0.14%, from a total market cap of $1.238 trillion on March 31, 2023, to $1.240 trillion on June 30, 2023. April and May were relatively quiet months, particularly after Ethereum’s Shapella upgrade on April 12 as the market was absent of any strong overarching narrative. Prices of Bitcoin (BTC) and Ethereum (ETH) are now hovering around $30,000 and $1,900 respectively, with BTC climbing 6.9%, while ETH increased by 6.0% in Q2.
Our comprehensive 2023 Q2 Crypto Industry Report covers everything from the crypto market landscape to analyzing Bitcoin and Ethereum, deep diving into the decentralized finance (DeFi) and non-fungible token (NFT) ecosystems, and reviewing how centralized exchanges (CEX) and decentralized exchanges (DEX) have performed.
2023 Q3 Crypto Industry Report | CoinGeckoCoinGecko
A significant market downturn in mid-August split the relatively slow Q3 into two parts. With limited liquidity on cryptocurrency exchanges, Bitcoin's (BTC) value plummeted from around $29,000 to approximately $26,000 within a single day on August 17, causing the total cryptocurrency market capitalization to drop from $1.2 trillion to $1.1 trillion.
Despite the absence of any major market-related news on that particular day, it appeared as if traders were winding down their activities for the remainder of the summer. Trading volumes on centralized exchanges have declined by 20.2% in the third quarter compared to the second quarter. Despite it being a pretty eventful three months, the crypto market was absent of any momentum.
Our comprehensive 2023 Q3 Crypto Industry Report covers everything from the crypto market landscape to analyzing Bitcoin and Ethereum, deep diving into the decentralized finance (DeFi) and non-fungible token (NFT) ecosystems, and reviewing how centralized exchanges (CEX) and decentralized exchanges (DEX) have performed.
CoinGecko 2019 Year End Cryptocurrency ReportCoinGecko
This is the tenth cryptocurrency report produced by CoinGecko covering the full year of 2019.
In this report, we summarize and highlight the market dynamics in the cryptocurrency market such as:
- Market capitalization growth, volume change, and price movement
- Exchanges & Stabelcoins
- Crypto companies M&A
- 2020 Predictions from 20+ Thought Leaders
- 2020 Key Events
- Ethereum 2.0 Overview
- DeFi Growth
- Decentralized application (Dapp), Non-Fungible Tokens (NFT), and Masternodes market summary
Download the full report here:
https://bit.ly/coingecko-2019-report
View all of CoinGecko's historical quarterly reports here:
https://reports.coingecko.com/all-report
CoinGecko 2018 Full Year Cryptocurrency ReportCoinGecko
This is the sixth cryptocurrency report produced by CoinGecko covering the full year of 2018.
In this report, we summarize and highlight the market dynamics in the cryptocurrency market such as:-
- Market capitalization growth, volume change, and price movement
- Cryptocurrency exchange ranking, volume & dominance
- Initial Coin Offerings (ICOs) trends
- Stablecoins trends
- Timeline of major events & regulatory updates
- Bitcoin Cash split
- Decentralized applications (dapps) trends
- Security Tokens insights
- Masternodes insights
- Non-Fungible Tokens trends
- and many more...
Download the full report here:
http://reports.coingecko.com/2018-report
View all of CoinGecko's historical quarterly reports here:
http://reports.coingecko.com/all-reports
Hello fellow crypto enthusiasts!
As we come to the end of the year, it's a good time to look back at the events that shaped the crypto market in 2022. It's been an exciting year to say the least, with plenty of highs and lows. In the year end report we take a dig at some of the major events and analysis from the Crypto World.
The Overall Web3, Crypto & Blockchain Report 2023Crypto Monk
In this meticulously detailed analysis, you've navigated the intricacies of Blockchain technology, explored the dynamics of decentralized finance (DeFi), examined the vibrant NFT market, and delved into the world of BRC-20 tokens. Your scrutiny extended to both centralized and decentralized exchanges, shedding light on their respective roles within the crypto ecosystem. Moreover, report provided valuable insights into the evolving landscape of crypto funding.
The integration of beautiful graphs not only adds aesthetic value but also serves as an effective visual aid, elucidating complex data and making your findings more accessible
Earn.World - Report - October 2023
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South korean crypto market overview, nov 2020Xangle.io
The South Korean Crypto Market Overview, published jointly by Xangle and Chainalysis, revealed that the cumulative value of trading volume from the 4 big crypto assets exchanges in South Korea reached about $93 billion from June to October of this year.
Among the many interesting details to come out of the report was the fact that over those 5 months, altcoin trading volume exceeded the global average while Bitcoin trading volume fell short of the global average. According to CMC, Bitcoin accounted for 26% of global trading volume whereas Bitcoin only accounted for 15.3% of trading volume in South Korea.
[Xangle Research] Defi, dejavu of 2017 ICO market boom?Minji Kyeong
Defi, dejavu of 2017 ICO market boom?
- Bitcoin shrinking on dominance, amid overall market taking sideways in Q2 after recovery from COVID 19 market crash
- Active on-chain stats in Ethereum (Tx counts:+62% / Tx fee: +688% (QoQ)); partially resembling the spike seen during the bull run in 2017-2018
- ERC-20 tokens taking the lead with Defi tokens standing out
- Defi tokens & Stable Tokens rising while exchange tokens run low
- Total value locked in Defi multiplied over x25 times in two years
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGeckoCoinGecko
Real World Assets (RWAs) in crypto have a long history, starting with fiat-backed stablecoins such as Tether (USDT). However, since the introduction of DeFi in 2020, and the bear market of 2022, a more diverse variety of RWAs have been tokenized to cater to the needs of on-chain investors. While RWAs are still predominantly focused on debt / credit, other assets such as real estate, art & collectibles, etc have also piqued the interest of investors.
Fundamentally, RWA projects live at the intersection between the real world and blockchains, and between issuers and investors. Whether they can act as an effective intermediary at these intersections will be pivotal to their success. While there will inevitably be reliance on third parties, such as oracles, custodians, credit assessors, and more, how these are effectively utilized and managed will remain crucial for their continued operations.
We’ve summarized the key highlights, but be sure to dig into the full 21 slides below.
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGeckoCoinGecko
Real World Assets (RWAs) in crypto have a long history, starting with fiat-backed stablecoins such as Tether (USDT). However, since the introduction of DeFi in 2020, and the bear market of 2022, a more diverse variety of RWAs have been tokenized to cater to the needs of on-chain investors. While RWAs are still predominantly focused on debt / credit, other assets such as real estate, art & collectibles, etc have also piqued the interest of investors.
Fundamentally, RWA projects live at the intersection between the real world and blockchains, and between issuers and investors. Whether they can act as an effective intermediary at these intersections will be pivotal to their success. While there will inevitably be reliance on third parties, such as oracles, custodians, credit assessors, and more, how these are effectively utilized and managed will remain crucial for their continued operations.
We’ve summarized the key highlights, but be sure to dig into the full 22 slides below.
GameFi Report 2023: GameFi Levels Up | CoinGeckoCoinGecko
Early crypto games launched way back in 2017, with CryptoKitties becoming the earliest craze, causing congestion on the Ethereum network. CryptoKitties led to the creation of the ERC-721 NFT standard, and the first game-centric chain Flow.
The First GameFi Wave in 2021, ushered in by Axie Infinity and later StepN brought new GameFi trends such as Play-to-Earn (P2E) and Move-to-Earn (M2E). Blockchain games across a variety of genres quickly followed, and quickly spread beyond Ethereum onto more performant chains with cheaper gas fees.
While most of these games eventually collapsed due to overly-simplistic gameplay and unsustainable tokenomics, a few of them such as Alien Worlds, Farmers World, Splinterlands and Axie Infinity have survived until today, albeit with a much smaller community of active addresses. Compared to the peak of GameFi in November 2021, the number of active participating addresses have declined by 57.9% to 837k.
We’ve summarized the key highlights, but be sure to dig into the full 21 slides below.
The State of Decentralized Perpetual Protocols | CoinGeckoCoinGecko
As fears of another crypto exchange collapsing have gotten the community on edge, more crypto users are turning towards decentralized perpetual protocols to satiate their demand for leveraged trading. Throughout the recent bear market, perpetual exchanges have been a beacon of light in the otherwise gloomy state of DeFi, providing an avenue for users to trade with leverage in a permissionless way while allowing liquidity providers to earn sustainable fees in an environment starved for yield.
Dive into our State of Decentralized Perpetual Protocols Report as we explore the history and evolution of decentralized perpetuals, how they have performed thus far, and what we can expect from decentralized perpetuals in the near future.
The Global Crypto Classification Standard by 21Shares & CoinGeckoCoinGecko
We are pleased to release the Global Crypto Classification Standard (GCCS) jointly developed by 21Shares and CoinGecko, which serves as an industry taxonomy and uniformed way to categorize cryptoassets.
Crypto, with its unfamiliar technology stack and sheer number and variety of projects and tokens, terminology and jargon, may be daunting and overwhelming to industry newcomers. The GCCS provides a clear framework to classify various projects and cryptoassets within the space, so that users and investors can easily identify what a project does, and where they sit as part of the larger crypto stack.
Read more: https://www.coingecko.com/research/publications/global-crypto-classification-standard
As NFT projects continue to pop up and censorship woes become a reality, decentralized storage has become a beacon of hope for many. Let’s check out how much the decentralized storage sector has grown!
This is the fourth cryptocurrency report produced by CoinGecko covering the second quarter of 2018.
In this report, we summarize and highlight the market dynamics in the cryptocurrency market such as:-
- Market cap growth, volume change, and price movement
- % change from All Time High
- Timeline of major events & regulatory updates
- Initial Coin Offerings (ICOs)
- Cryptocurrency exchange ranking, volume & dominance
- Twitter analysis
- Decentralized Applications (dApps) Trends
- and many more...
Download the full report here:
http://reports.coingecko.com/2018-q2-en
View all of CoinGecko's historical quarterly reports here:
http://reports.coingecko.com/all-reports
This is the third cryptocurrency report produced by CoinGecko covering the first quarter of 2018.
In this report, we summarize and highlight the market dynamics in the cryptocurrency market such as:-
- Market cap growth, volume change, and price movement
- Timeline of all major events worldwide
- Key regulatory updates
- Initial Coin Offerings (ICOs)
- % change from All Time High
- and many more...
Download the full report here:
http://www.newsletter.coingecko.com/landing/2018-q1-report
2017 Year in Review Cryptocurrency Report by CoinGeckoCoinGecko
This is the second cryptocurrency report produced by CoinGecko covering the year-in-review of 2017.
In this report, we summarize and highlight the market dynamics in the cryptocurrency market such as:-
- Market cap growth, volume change, and price movement
- Timeline of all major events worldwide are also covered
- Bitcoin and Ethereum against the Big Mac index.
- Bitcoin state of forks
- and more...
Q3 2017 Cryptocurrency Report by CoinGeckoCoinGecko
CoinGecko presents our first cryptocurrency report covering Q3 of 2017. In this report, we summarize and highlight the market dynamics in the cryptocurrency market such as market cap growth, volume change, and price movement. We also conducted some fun analysis comparing the price of Bitcoin and Ethereum against the Big Mac index.
Welocme to ViralQR, your best QR code generator.ViralQR
Welcome to ViralQR, your best QR code generator available on the market!
At ViralQR, we design static and dynamic QR codes. Our mission is to make business operations easier and customer engagement more powerful through the use of QR technology. Be it a small-scale business or a huge enterprise, our easy-to-use platform provides multiple choices that can be tailored according to your company's branding and marketing strategies.
Our Vision
We are here to make the process of creating QR codes easy and smooth, thus enhancing customer interaction and making business more fluid. We very strongly believe in the ability of QR codes to change the world for businesses in their interaction with customers and are set on making that technology accessible and usable far and wide.
Our Achievements
Ever since its inception, we have successfully served many clients by offering QR codes in their marketing, service delivery, and collection of feedback across various industries. Our platform has been recognized for its ease of use and amazing features, which helped a business to make QR codes.
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At ViralQR, here is a comprehensive suite of services that caters to your very needs:
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Additionally, there is a 14-day free offer to ViralQR, which is an exceptional opportunity for new users to take a feel of this platform. One can easily subscribe from there and experience the full dynamic of using QR codes. The subscription plans are not only meant for business; they are priced very flexibly so that literally every business could afford to benefit from our service.
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Subscribers of ViralQR receive detailed analytics and tracking tools in light of having a view of the core values of QR code performance. Our analytics dashboard shows aggregate views and unique views, as well as detailed information about each impression, including time, device, browser, and estimated location by city and country.
So, thank you for choosing ViralQR; we have an offer of nothing but the best in terms of QR code services to meet business diversity!
Elevating Tactical DDD Patterns Through Object CalisthenicsDorra BARTAGUIZ
After immersing yourself in the blue book and its red counterpart, attending DDD-focused conferences, and applying tactical patterns, you're left with a crucial question: How do I ensure my design is effective? Tactical patterns within Domain-Driven Design (DDD) serve as guiding principles for creating clear and manageable domain models. However, achieving success with these patterns requires additional guidance. Interestingly, we've observed that a set of constraints initially designed for training purposes remarkably aligns with effective pattern implementation, offering a more ‘mechanical’ approach. Let's explore together how Object Calisthenics can elevate the design of your tactical DDD patterns, offering concrete help for those venturing into DDD for the first time!
Accelerate your Kubernetes clusters with Varnish CachingThijs Feryn
A presentation about the usage and availability of Varnish on Kubernetes. This talk explores the capabilities of Varnish caching and shows how to use the Varnish Helm chart to deploy it to Kubernetes.
This presentation was delivered at K8SUG Singapore. See https://feryn.eu/presentations/accelerate-your-kubernetes-clusters-with-varnish-caching-k8sug-singapore-28-2024 for more details.
State of ICS and IoT Cyber Threat Landscape Report 2024 previewPrayukth K V
The IoT and OT threat landscape report has been prepared by the Threat Research Team at Sectrio using data from Sectrio, cyber threat intelligence farming facilities spread across over 85 cities around the world. In addition, Sectrio also runs AI-based advanced threat and payload engagement facilities that serve as sinks to attract and engage sophisticated threat actors, and newer malware including new variants and latent threats that are at an earlier stage of development.
The latest edition of the OT/ICS and IoT security Threat Landscape Report 2024 also covers:
State of global ICS asset and network exposure
Sectoral targets and attacks as well as the cost of ransom
Global APT activity, AI usage, actor and tactic profiles, and implications
Rise in volumes of AI-powered cyberattacks
Major cyber events in 2024
Malware and malicious payload trends
Cyberattack types and targets
Vulnerability exploit attempts on CVEs
Attacks on counties – USA
Expansion of bot farms – how, where, and why
In-depth analysis of the cyber threat landscape across North America, South America, Europe, APAC, and the Middle East
Why are attacks on smart factories rising?
Cyber risk predictions
Axis of attacks – Europe
Systemic attacks in the Middle East
Download the full report from here:
https://sectrio.com/resources/ot-threat-landscape-reports/sectrio-releases-ot-ics-and-iot-security-threat-landscape-report-2024/
UiPath Test Automation using UiPath Test Suite series, part 3DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 3. In this session, we will cover desktop automation along with UI automation.
Topics covered:
UI automation Introduction,
UI automation Sample
Desktop automation flow
Pradeep Chinnala, Senior Consultant Automation Developer @WonderBotz and UiPath MVP
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
UiPath Test Automation using UiPath Test Suite series, part 4DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 4. In this session, we will cover Test Manager overview along with SAP heatmap.
The UiPath Test Manager overview with SAP heatmap webinar offers a concise yet comprehensive exploration of the role of a Test Manager within SAP environments, coupled with the utilization of heatmaps for effective testing strategies.
Participants will gain insights into the responsibilities, challenges, and best practices associated with test management in SAP projects. Additionally, the webinar delves into the significance of heatmaps as a visual aid for identifying testing priorities, areas of risk, and resource allocation within SAP landscapes. Through this session, attendees can expect to enhance their understanding of test management principles while learning practical approaches to optimize testing processes in SAP environments using heatmap visualization techniques
What will you get from this session?
1. Insights into SAP testing best practices
2. Heatmap utilization for testing
3. Optimization of testing processes
4. Demo
Topics covered:
Execution from the test manager
Orchestrator execution result
Defect reporting
SAP heatmap example with demo
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
Encryption in Microsoft 365 - ExpertsLive Netherlands 2024Albert Hoitingh
In this session I delve into the encryption technology used in Microsoft 365 and Microsoft Purview. Including the concepts of Customer Key and Double Key Encryption.
PHP Frameworks: I want to break free (IPC Berlin 2024)Ralf Eggert
In this presentation, we examine the challenges and limitations of relying too heavily on PHP frameworks in web development. We discuss the history of PHP and its frameworks to understand how this dependence has evolved. The focus will be on providing concrete tips and strategies to reduce reliance on these frameworks, based on real-world examples and practical considerations. The goal is to equip developers with the skills and knowledge to create more flexible and future-proof web applications. We'll explore the importance of maintaining autonomy in a rapidly changing tech landscape and how to make informed decisions in PHP development.
This talk is aimed at encouraging a more independent approach to using PHP frameworks, moving towards a more flexible and future-proof approach to PHP development.
Epistemic Interaction - tuning interfaces to provide information for AI supportAlan Dix
Paper presented at SYNERGY workshop at AVI 2024, Genoa, Italy. 3rd June 2024
https://alandix.com/academic/papers/synergy2024-epistemic/
As machine learning integrates deeper into human-computer interactions, the concept of epistemic interaction emerges, aiming to refine these interactions to enhance system adaptability. This approach encourages minor, intentional adjustments in user behaviour to enrich the data available for system learning. This paper introduces epistemic interaction within the context of human-system communication, illustrating how deliberate interaction design can improve system understanding and adaptation. Through concrete examples, we demonstrate the potential of epistemic interaction to significantly advance human-computer interaction by leveraging intuitive human communication strategies to inform system design and functionality, offering a novel pathway for enriching user-system engagements.
Dev Dives: Train smarter, not harder – active learning and UiPath LLMs for do...UiPathCommunity
💥 Speed, accuracy, and scaling – discover the superpowers of GenAI in action with UiPath Document Understanding and Communications Mining™:
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Learn about the latest enhancements to out-of-the-box document processing – with little to no training required
Get an exclusive demo of the new family of UiPath LLMs – GenAI models specialized for processing different types of documents and messages
This is a hands-on session specifically designed for automation developers and AI enthusiasts seeking to enhance their knowledge in leveraging the latest intelligent document processing capabilities offered by UiPath.
Speakers:
👨🏫 Andras Palfi, Senior Product Manager, UiPath
👩🏫 Lenka Dulovicova, Product Program Manager, UiPath
SAP Sapphire 2024 - ASUG301 building better apps with SAP Fiori.pdfPeter Spielvogel
Building better applications for business users with SAP Fiori.
• What is SAP Fiori and why it matters to you
• How a better user experience drives measurable business benefits
• How to get started with SAP Fiori today
• How SAP Fiori elements accelerates application development
• How SAP Build Code includes SAP Fiori tools and other generative artificial intelligence capabilities
• How SAP Fiori paves the way for using AI in SAP apps
2. CoinGecko Q2 2022 Cryptocurrency Report
DeFi Analysis
- Q2 2022 DeFi Overview
- Q2 2022 DeFi Daily Active Users
- Q2 2022 DeFi Multichain Market Share
- Q2 2022 DeFi Ecosystem Overview
25
1
Table of Contents
Analysts:
Market Landscape
- Q2 2022 Spot Market Overview
- Q2 2022 Top 30 Coins Dominance
- Q2 2022 Cryptocurrency Price Returns
- Q2 2022 Top 15 Stablecoins Overview
- Q2 2022 Top 30 Crypto Market Cap & Bitcoin vs. S&P 500
- Notable Events Timeline for Q2 2022
3
Founders’ Note 2
Non-Fungible Tokens (NFTs)
- Q2 2022 NFT Trading Volume across Top 8 Chains
- Q2 2022 NFT Platform Trading Volumes
- Q2 2022 NFT Trends
- Solana NFTs
30
Bitcoin Analysis
- Q2 2022 Bitcoin Price vs. Trading Volume
- Q2 2022 Bitcoin Mining Hash Rate
- Q2 2022 Price Returns: Bitcoin vs. Major Asset Classes
10
Benjamin Hor
Win Win
Exchanges
- Q2 2022 Top 10 Cryptocurrency Exchanges
- Q2 2022 Top 10 Centralized Exchanges (CEX)
- Q2 2022 Top 10 Decentralized Exchanges (DEX)
- Q2 2022 Derivatives Exchanges – Bitcoin Perpetual Swaps Volume
- Q2 2022 Derivatives Exchanges – Bitcoin Perpetual Swaps Open Interest
- Q2 2022 Derivatives Exchanges – Bitcoin Perpetual Swaps Funding Rate
- Q2 2022 Performance of GBTC and $BITO
35
Shaun Lee Dillon Yap Weng Dee Jun Sheng Zhong
Ethereum Analysis
- Q2 2022 Ethereum Price vs. Trading Volume
- Roadmap to Eth2.0
- Q2 2022 Ethereum Consensus Layer Staking
- stETH:ETH Price Deviation
14
The Fall of Terra & Contagion Effects
- Downwards Algo Un-Stablecoin
- Waning Moon
- What happened to UST & LUNA?
- From Terra / UST to Three Arrows Capital (3AC)
- CeFi Firms on the Brink
19
3. CoinGecko Q2 2022 Cryptocurrency Report 2
Founders’ Note
Bobby Ong
COO
TM Lee
CEO
As we reach the midpoint of the year, it looks like 2022 is shaping up to be an annus horribilis for the crypto market. The total crypto market cap, which now stands at
$900B, fell by over 50% q-o-q and roughly 70% since the peak in November 2021. Both BTC and ETH took similar-sized dips, falling below their previous 2018 bull cycle
highs, which many previously thought to be safe bottoms. In comparison to now, Q1 felt like the calm before the storm.
As investors go risk-off in an unforgiving macroeconomic environment, the first major crypto domino block to fall was Terra, whi ch was still on the ascend as close as Q1
2022. At peak, LUNA and UST reached $40B and $18B in market cap, respectively. The death spiral was swift - the entire scheme unraveled within a week due to a tsunami
of panic outflows. The effects of this collapse are still being felt today as we continue to uncover entities that have reckl essly aped into UST.
Major price drawdowns across all crypto assets also caused cascading liquidations of leveraged positions, wiping out many. Weekly multi-billion dollarliquidations on
CEXes become commonplace, as speculators repeatedly got rekt. Most prominent was Three Arrows Capital, which is now facing bankruptcy and liquidation. Many CeFi
crypto lending firms, the source of much of this leverage, are now staring at bailouts or bankruptcy. While DeFi protocols continued chugging along, the value of their
tokens, as well as TVL, were not spared.
The NFT segment was no different as overall NFT trading volumes fell by 26% from the peak. However, floorprices of blue chip s have not fallen much in native token
terms, perhaps a sign of resilience. This quarter also saw the emergence of Solana NFTs, with their introduction on OpenSea bringing an infusion of interest.
However, Magic Eden has reaped most of the benefits thus far. On Ethereum, there’s been more diversity in NFT trading
activity, with LooksRare and X2Y2 showing signs of renewed interest.
With everything looking all doom and gloom this quarter, are there any silver linings to look out for? Firstly, it’s
important to zoom out to see how far we’ve progressed. Just three years ago, crypto was mainly just BTC, ETH, and
speculation on CEXes. Today, we have multiple altchains with their own ecosystems. DeFi has become table stakes for
every chain. And NFT enthusiasts have formed their own communities within crypto while spurring the GameFi and
Metaverse narratives.
Secondly, the bursting of the bubble allows the industry to flush out a lot of the excesses accumulated throughout the
last bull run. By the end of last year, it was clear that the hype surrounding crypto had far outpaced actual progress and
was never going to be sustainable. While there will always be collateral damage from market pullbacks, it helps to
refocus the industry on the genuine fundamentals instead of chasing the next “number-go-up-only” scheme.
Finally, we want to reiterate what we said last quarter - challenging markets are the best times to BUIDL. The Ethereum
merge is in its final stretch, altchains are still receiving funding to figure out scalability solutions, and DeFi projects are
still announcing new products. While CEXes may be cutting back headcount, many projects are still hiring.
On the CoinGecko end, we remain long-term bullish on the continued development of the crypto industry, and the team
will continue to sharpen our focus and ship. Expect more to come from us in the coming quarters! Next up, GeckoCon!
5. CoinGecko Q2 2022 Cryptocurrency Report 4
Q2 2022 Spot Market Overview
Markets plummeted in Q2 2022
-55.9%
Top 30 Market Cap
Changein Q2 2022
Market Cap
Top 30 crypto market capitalization took a
beating in Q2 2022, losing over half its
value and falling below $1 trillion.
Measured from the Nov 2021 Top 30 market
cap ATH of $2.6T, market cap has
experienced a ~68% loss, or -$1.8T.
$0B
$100B
$200B
$300B
$400B
$500B
$0.0T
$0.2T
$0.4T
$0.6T
$0.8T
$1.0T
$1.2T
$1.4T
$1.6T
$1.8T
$2.0T
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
Total Volume Traded Total Market Cap Trendline (Market Cap)
Spot trading volumes remained relatively
steady relative to Q1 at ~$100B levels,
aside from spikes in May due to the Terra
fallout, and a further market sell-off mid-
June.
Source: CoinGecko
Top30 Market Cap& Spot TradingVolume (Jan – Jun 2022)
Trading Volume
LUNC & USTC fell out of the Top 30 for
obvious reasons, along with WAVES and
AXS. Meanwhile, XMR, OKB, LEO, and UNI
broke in. Notably, stables have gained
significant ground, with BUSD and DAI
previously at #13 and #20 now at #6 and
#12 respectively.
6. CoinGecko Q2 2022 Cryptocurrency Report 5
Q2 2022 Top 30 Coins Dominance
BNB and stablecoins gain dominance
Top30 CoinsDominance(Jan – Jun 2022)
16.3%
(21.9%)
8.1%
(4.4%)
6.8%
(2.8%)
4.4%
(4.0%)
In Q2, Bitcoin dominance remained
roughly the same as in Q1 at 46.8%, while
ETH fell from 21.4% to 16.3%.
Source: CoinGecko
2.1%
(0.94%)
1.94%
(2.23%)
15.7%
(17.6%)
46.8%
(48.1%)
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
BTC ETH USDT USDC BNB BUSD XRP Others (8-30)
Within the Top 15 , BNB, DOGE, and TRON
increased their relative market share to
4.4%, 1.1%, and 0.73% respectively.
Within the Top 30, stablecoins USDT,
USDC, BUSD, and DAI now make up
17.8% of market share.
7. CoinGecko Q2 2022 Cryptocurrency Report 6
Q2 2022 Cryptocurrencies Price Returns
Only one LEO stayed afloat on the red sea of Q2 2022
Is DeFi dead? While the meme may not hold much water as DeFi protocols
continue to chug along, their token valuations continue to plummet,
being the only sector which recorded huge additional losses on top of already
significant losses of Q1 2022.
LUNA (now LUNC), the top performer of last quarter, has been completely
wiped off the board.
While there may have been some performers in Q1 2022, none were spared in
Q2 with the brutal market downturn. The carnage that was Q2 2022 makes Q1
seem tame in hindsight, with pretty much every token taking double digit
losses.
Source: CoinGecko
On average, the Top 5 exchange tokens took the least losses of ~43%, while
the Top 5 P2E was hit the hardest at a loss of 71%. GMT, the governance
token of STEPN, which increased by 14x within its first month, has since lost
over 60% of its value in Q2.
Q2 2022 Q1 2022
BTC -56% 2%
ETH -67% -8%
BNB -49% -13%
XRP -60% 3%
ADA -59% -9%
LINK -63% -12%
UNI -55% -31%
AAVE -71% -13%
MKR -56% -7%
GRT -80% -26%
BNB -49% -13%
LEO 1% 61%
FTT -49% 34%
OKB -42% -26%
CRO -75% -15%
SAND -69% -40%
MANA -66% -18%
AXS -77% -31%
GMT -65% 1402%
GALA -78% -40%
Top-5 Play-To-Earn Tokens
Top-5 Exchange Tokens
Top-5 DeFi Tokens
Top-5 Cryptocurrencies
In-line with the halving of total market cap, the Top 5 cryptocurrencies took
similar losses in Q1 2022, with an average loss of 50.9%. Out of the Top
5, BNB suffered the least decline, while ETH took the biggest hit in terms of
price returns.
The sole exception within the Top 30 was Bitfinex's exchange token LEO
that managed to stay afloat this quarter and maintain its 61% gain from Q1
2022. All other coins took significant losses, the hardest hit being AVAX,
down by 82%.
8. CoinGecko Q2 2022 Cryptocurrency Report
Market Cap
7
Q2 2022 Top 15 Stablecoins Overview
Terrable quarter for stablecoins
Top15 StablecoinsMarket CapBreakdown(Jan – Jun 2022)
Source: CoinGecko
$0B
$20B
$40B
$60B
$80B
$100B
$120B
$140B
$160B
$180B
$200B
Jan 22 Feb 22 Mar 22 Apr 22 May 22 Jun 22
USDT USDC BUSD DAI FRAX USTC Others
$66.5B
-$15.4B (-18.8%)
$55.6B
+$3.5B (+6.7%)
$17.6B
+$0.1B(+0.5%)
$6.3B
-$2.9B (-31.5%)
$1.4B
-$1.3B (-48.1%)
-18.3%
Top 15 StablecoinsMarket
Cap Decline in Q2 2022
Tether retained its lead, though its share
decreased by almost 20%. USDC took the lead in
Q2 in terms of growth with close to a 7%
increase. In contrast, FRAX and DAI however saw
losses of 48% and 32% in market cap
respectively, possibly due to negative association
with algorithmic stables.
Before its ultimate downfall which wiped out
~$18B in market cap, USTC overtook BUSD as the
third largest stablecoin. As of end-Q2, it (still) sits at
7th place despite never restoring its peg. With the
meltdown of UST, FRAX broke into the Top 5.
The slight decrease (discounting USTC) in
stablecoin market share suggests that a certain
amount of capital has completely exited the crypto
ecosystem, in contrast to last quarter where
investors likely de-risked into stables amidst
market uncertainty.
The Top 15 stablecoins lost almost a fifth of its
market cap, or -$33.9B in absolute terms.
9. CoinGecko Q2 2022 Cryptocurrency Report
Market Cap
8
Q2 2022 Top 30 Crypto Market Cap & Bitcoin vs. S&P 500
There was a high correlation between the two asset classes in Q2 2022
S&P 500
Top30 CryptoMarket Capvs. S&P 500 (Jan – Jun 2022)
The BTC-S&P500 60d correlation reached
yet another ATH of 0.75 on 25th May
2022 according to data from CoinMetrics,
which indicates strong correlation. It has
since dropped to 0.67 as of 30 June 2022.
The Top 30 crypto market
cap correlation with the S&P500 was
0.92 (high correlation) in Q2 2022. This
was an increase from the correlation
coefficient of 0.72 in Q1 2021.
Source: CoinGecko
The Top 30 market cap also moved in
lockstep with Bitcoin, as their relationship
was effectively perfectly correlated at ~1.
3,500
3,700
3,900
4,100
4,300
4,500
4,700
4,900
$0.0T
$0.5T
$1.0T
$1.5T
$2.0T
$2.5T
Jan 22 Feb 22 Mar 22 Apr 22 May 22 Jun 22
Top 30 Crypto Market Cap Bitcoin Market Cap S&P 500
As highlighted in our previous report,
crypto assets' correlation with traditional
markets do not come as a surprise as a
majority of investors perceive crypto as a
risky asset class.
10. CoinGecko Q2 2022 Cryptocurrency Report 9
Q2 2022 Notable Events Timeline
A quarter filled with major milestones for crypto
4 Apr 9 May
12 Jun
29 Jun
Harmony Horizon
Bridge hacked for
~$100M
Celsius suspended
all withdrawals
21 Jun
Optimism
Airdrop
Arbitrum Odyssey
began (Paused since
Week 2)
1 May
27 Jun
23 Jun
UST Depegged and
Luna Collapsed
Circle issued EUROC
stablecoin
Yugalab's Metaverse
NFT Otherside Mint
7 Apr
1 Jun
30 Jun
21 Jun
ProShares launched
Short BTC ETF (BITI)
Ethereum Gray
Glacier Hard Fork
Three Arrows
Capital ordered into
liquidation in BVI
Ethereum Ropsten
Testnet Merge
8 Jun
Pudgy Penguin
acquired by Luca
Netz
Solana NFT Beta
launched on
OpenSea
NEAR launched
USN stablecoin
20 Apr 5 May
Tron launched
USDD stablecoin
STEPN ban in
China announced
Coinbase
added to
Fortune 500
24 May
8 Jun
GBTC Conversion
to ETF Application
Denied
30 Jun
12. CoinGecko Q2 2022 Cryptocurrency Report 11
Q2 2022 Bitcoin Price vs. Trading Volume
Bitcoin tumbles downward
BTC Price Trading Vol
Bitcoin Price and Spot Trading Volume Apr ‘21 - Oct '21
Bitcoin Price andSpot TradingVolume (Jan–Jun 2022)
-55.8%
BTC Price Return in Q2 2022
BTC was in a downward trend throughout
Q2 2022. At one point, it recorded 9
consecutive weeks of being in the red,
the first time this has happened. It broke
multiple resistance levels, including major
ones at $30k and $20k.
BTC hit a yearly low of $17,760 briefly,
which was below even the previous cycle’s
high, before rebounding to reclaim $20k.
Some noteworthy Q2 events affected BTC:
• Broader equity market also fell,
dragging BTC along
• LFG Foundation sold their BTC
holdings to protect the UST peg
• Three Arrows Capital insolvency
(which had large holdings of GBTC)
causing BTC to slump
• SEC rejected Greyscale’s Bitcoin ETF
application
Q2 2022 Price Return
-55.8%
Source: CoinGecko
Q1 2022 Price Return
1.6%
$0B
$20B
$40B
$60B
$80B
$100B
$120B
$140B
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
$50,000
Volume Price
Yearly
low
$17,760
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
13. CoinGecko Q2 2022 Cryptocurrency Report
140m
160m
180m
200m
220m
240m
260m
280m
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22
12
Q2 2022 Bitcoin Mining Hash Rate
Hashrate trends upwards despite slumping BTC price
Bitcoin'sTotal HashRate(Jan – Jun 2022)
Hash Rate TH/s
Bitcoin’s total hash rate became
increasingly erratic and volatile in the
latter half of Q2, perhaps a sign of miners
grappling with new market conditions.
BTC’s slumping price meant lower
profitability for miners, pushing some to
go offline. Miners with spare capacity can
capitalize on reduced competition to grab
a larger slice of the hash rate pie, which
pushes the hash rate back up again, and
the cycle repeats itself.
Miners are also reported to be selling
more, if not all, of their BTC holdings,
exerting downward pressure on BTC price.
More is expected to come in Q3 as more
companies are pressed for liquidity.
Despite all these, overall hashrate is still
trending upwards (for now), even hitting a
new ATH on 8 June.
-1.7%
Bitcoin’shash rate decrease
in Q2 2022
Q1 2022 Hash Rate
-3.5%
Q2 2022 Hash Rate
-1.7%
208m
200m
215m
Previous All-Time-High (ATH)
248m TH/s
New All-Time-High (ATH)
266m TH/s
Source: Blockchain.com
14. CoinGecko Q2 2022 Cryptocurrency Report 13
USD & Oil stay above, while others sink
Bitcoin vs. Major Asset Classesin Q2 2022
Bitcoin was the worst performing asset when
compared to major asset classes. Out of the asset
classes, only Crude Oil and DXY posted positive
gains. Constricted supply for oil, and rising interest
rates could be reasons for such.
Q2 2022 Bitcoin vs. Major Asset Classes Price Returns
Price Return
Bitcoin largely mimicked the behavior of US equities,
dipping hand-in-hand wheneverthe Federal Reserve
announced a rate hike.
The correlation between Bitcoin and equities has been
on upward trend as the year progresses. It remains
to be seen whether this trend will be buckled as we
enter a recession.
-60%
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
Apr-22 May-22 Jun-22 Jul-22
S&P 500 NASDAQ CRUDE OIL DXY
GOLD TLT BTC
Source: Yahoo Finance
16. CoinGecko Q2 2022 Cryptocurrency Report
$0B
$10B
$20B
$30B
$40B
$50B
$60B
$70B
$80B
$90B
$100B
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
$3,500
$4,000
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
15
Q2 2022 Ethereum Price vs. Trading Volume
Ultrasound Descend
Source: CoinGecko
-67.4%
ETH Price Return in Q2 2022
Ethereum PriceandSpot TradingVolume (Jan – Jun 2022)
Q1 2022 Price Return
–11%
Q2 2022 Price Return
–67%
Like BTC, ETH was on a clear downward
trajectory throughout Q2 2022. From start
of April to mid-June, ETH recorded 11
weekly closes in the red, also the first
time this has happened.
ETH dipped briefly below $900 before
making a quick recovery back to $1,000
and is currently holding the 200-week
Simple Moving Average as support.
Some noteworthy events affecting ETH in
Q2 2022:
• Terra collapse - cascading liquidations
of leveraged positions using bETH
• stETH loses 1:1 parity with ETH
• Gray Glacier hard fork and difficulty
bomb delayed to mid-September
ETH Price Trading Vol
17. CoinGecko Q2 2022 Cryptocurrency Report 16
Roadmap to Eth2.0
Eth2.0 renamed to “Consensus Layer” and completed The Merge on testnet
2020 2021 2022 2023
Beacon Chain
1 December 2020
London Hard Fork
5 August 2021
Altair Upgrade
27 October 2021
Arrow Glacier Hard Fork
9 December 2021
▶ Sepolia Merge scheduled for 6 July 2022, and after
that only Goerli left before mainnet
The Merge
~Q3 2022
▶ Enable shard chains, which will allow splitting of
transactions across them to increase the network
throughput
▶ Enable dApp development to allow smart contract
function on the merged network
Shard Chains
~2023
▶ Delay of difficulty bomb to September 2022
▶ The difficulty bomb makes mining unprofitable,
disincentivizing miners from keeping the Proof-of-
Work network live after the transition to Proof-of-
Stake
Gray Glacier Hard Fork
29 June 2022
▶ Eth1.0 and Eth2.0 renamed to “execution layer” and
“consensus layer” respectively.
The Great Renaming
24 January 2022
Source: https://ethereum.org/en/
Ropsten Testnet Merge
8 June 2022
18. CoinGecko Q2 2022 Cryptocurrency Report
7 M
8 M
9 M
10 M
11 M
12 M
13 M
14 M
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
17
Q2 2022 Ethereum Consensus Layer Staking
Staked ETH plateauing after spike in Q1 2022
Despite fluctuations in stETH prices, Lido
remained the largest ETH staking service
by validator count. Lido has a 31.76%
market share amongst all staking pools.
By end-Q2 2022, almost 13 million ETH
was staked, representing roughly 11% of
total ETH supply.
Unlike after the Klin Testnet Merge in Q1,
ETH Staking did not spike after the merge
of the Ropsten and Sepolia testnet as
The Merge and difficulty bomb was
delayed until September.
The rate of ETH staking started slowing in
May and June after increasing by 9.52% in
April alone.
Source: Dune Analytics (@hagaetc)
Cumulative ETH Stakedfor Ethereum ConsensusLayer (Jan – Jun 2022)
Q1 2022 Total
Staked ETH
+25%
11,028,546
12,994,347
8,852,770
Q2 2022 Total
Staked ETH
+17.8%
+17.82%
TotalETH Staked in Q2 2022
19. CoinGecko Q2 2022 Cryptocurrency Report 18
stETH:ETH Price Deviation
Terra's fallout and bETH contagion
stETH:ETH Ratio (Jan – Jun 2022)
0.90
0.92
0.94
0.96
0.98
1.00
1.02
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
Terra / UST
Collapse
The stETH-ETH Curve pool, is now down to
$718M in TVL, compared to its peak of
$5.6B on April 5.
With Terra’s collapse, users were bridging
their bETH back to mainnet and converting
them to ETH via Curve. At the same time,
large LPs such as Celsius, 3AC and Amber
also withdrew liquidity from the pool.
Celsius and 3AC withdrawals continued as
they tried to salvage their portfolios.
Total circulating stETH is now ~4.2M,
representing ~30% of all staked ETH and
~3.5% of total ETH circ supply.
0.9346
Lowest stETH:ETH ratio
Important to note that stETH is not meant
to be 1:1 to ETH. stETH to ETH redemption
will only be unlocked post-Merge, and
users are taking on smart contract risk
when staking ETH on Lido.
20. CoinGecko Q2 2022 Cryptocurrency Report 19
THE FALL OF TERRA &
CONTAGION EFFECTS
21. CoinGecko Q2 2022 Cryptocurrency Report
$0.0B
$5.0B
$10.0B
$15.0B
$20.0B
$25.0B
$30.0B
$35.0B
$40.0B
$0.00
$0.20
$0.40
$0.60
$0.80
$1.00
$1.20
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
Market Cap Price
20
Downwards Algo Un-Stablecoin
Crypto’s Darling Stablecoin JUMPed off a Cliff
*UST unravelled as quickly as it had
risen. At its peak, it had a $18.7B market
cap. But UST had fallen to a mere $807M
at the end of June.
UST Price Market Cap
UST ATL
June 18th
$0.007
The depegging event resulted in a 99%
drop in value, with UST hitting the lows of
$0.007 in late June. However, it rebounded
back to $0.05 at the end of June.
Source: CoinGecko
*LUNA and UST mentioned in this slide refers to LUNC (Terra Classic) and USTC (UST Classic)
UST Price & Market Cap (Jan – Jun 2022)
With the redemption mechanism for UST
to LUNA being disabled, the supply of UST
can’t be reduced. This has left 9.8B UST still
in circulation.
-95.7%
UST Market Cap FromPeak to
30th June
UST Market Cap
May 7th
$18.7B
22. CoinGecko Q2 2022 Cryptocurrency Report 21
Waning Moon
UST de-pegging had a domino effect on LUNA
As LUNA price continuously fell, more
LUNA had to be minted for every UST.
Eventually, LUNA went into a death
spiral whereby the market cap of UST
went below that of LUNA. This led to an
exponential increase in LUNA supply,
and it saw a 99% drop in price.
LUNA Price Market Cap
LUNA’s ATH
April 5th
$119.18
How *LUNA worked: If the price of UST
fell, more LUNA would be minted to
absorb any excess supply of UST. This in
turn would encourage arbitrageurs in the
market to return the peg. At least that was
the theory.
Source: CoinGecko
*LUNA and UST mentioned in this slide refers to LUNC (Terra Classic) and USTC (UST Classic)
LUNA Price & Market Cap(Jan – Jun 2022)
The depegging event: LUNA failed to
absorb such high volumes of UST sells.
New LUNA was minted, and UST was
burned. In turn, the newly minted LUNA
was sold, further driving down its price.
+1.9M%
LUNASupply Increase
$0B
$10B
$20B
$30B
$40B
$50B
$0
$20
$40
$60
$80
$100
$120
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
Market Cap Price
USTC overtook
LUNA Market Cap
May 10th
23. CoinGecko Q2 2022 Cryptocurrency Report 22
What happened to UST & LUNA?
Timeline of events
What’s next:
▶ Multiple lawsuits have been filed by
LUNA & UST investors in various
countries against Terraform Labs.
▶ Do Kwon has been summoned for a
parliamentary hearing in South
Korea.
▶ Current and ex-Terraform Labs
employees in South Korea have been
barred from leaving the country.
▶ Fallout from Terra has affected
various other companies, with many
turning insolvent till this day.
May
1st – 5th
Market downturn saw crypto drop, followed by large UST outflows into
other stablecoins. The UST peg soon broke, falling to $0.98. However,
peg was soon restored, with Luna Foundation Guard (LFG) stepping in.
May
7th - 8th
May
9th
The UST peg didn’t hold for long, as UST holders continued selling. The
peg broke to $0.60 and briefly rebounded as LFG tried to defend the peg.
Unfortunately, it didn’t last long and collapsed again for good.
May
12th
The Terra blockchain is halted, after the price of LUNA fell sharply, thus
threatening the network’s security. Once resumed, it was halted again for
9 hours.
May
16th
Do Kwon proposed to fork Terra, with the current chain to be renamed
to Terra Classic. UST is excluded from the new chain, dubbed Terra 2.0.
May
28th
Terra 2.0 launched, with an airdrop distributed to holders of UST and
LUNA at the time of depegging.
Anchor’s semi-dynamic earn rate introduced, with a slight reduction from
earlier 20%. Total Value Locked (TVL) in Anchor hit an all-time high of
$17.15B on May 5th.
24. CoinGecko Q2 2022 Cryptocurrency Report 23
From Terra / UST to Three Arrows Capital (3AC)
There were further domino effects on Three Arrows Capital, who is now facing liquidation
BlockFi
stETH
Celsius
Network
Jump
Crypto
USDT
Three Arrows
Capital (3AC)
Hashed
Galaxy Digital
Delphi Labs
Fei
USDN
Voyager
Digital
Orion
Money
Gro Protocol
GBTC
Deribit
Genesis
Global Trading
Blockchain.com
BitMEX
CoinFLEX
Finblox
Pantera Capital
Invested in Terra
Binance Labs
Coinbase
Ventures
Orthogonal
Trading
Maple
Finance
Babel Finance
Also has exposure to
25. CoinGecko Q2 2022 Cryptocurrency Report
CeFi Firms on the Brink
Celsius, BlockFi, Voyager, which collectively had at least ~$25B in AUM, now face insolvency
27. CoinGecko Q2 2022 Cryptocurrency Report
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
$0B
$50B
$100B
$150B
$200B
$250B
$300B
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
DeFi Market Cap DeFi Share of Market (DeFi/Global Market Cap)
26
Q2 2022 DeFi Overview
DeFi’s dominance continued eroding as markets trended lower
Late Q1 2022 Recovery Collapse of Terra
Much of the DeFi market cap was wiped
out largely due to the collapse of Terra
and its stablecoin, UST. Terra
ecosystem projects were wiped out,
alongside protocols that supported these
assets.
Notably, the panic spread towards other
stablecoins, leading to mass
redemptions of USDT and other algo-
stablecoins depegging.
DeFi market cap suffered a hefty drop,
decreasing from $142 billion to $36
billion in a span of 3 months, along with
the rest of the crypto market.
DeFi Market Cap DeFi Share of Market
Besides that, DeFi exploits have ramped
up in Q2, affecting projects such as Inverse
and Rari. These attacks have negatively
impacted token prices as investors lose
faith in these hacked protocols.
-74.6%
Decrease in DeFi Market Cap
compared to 1st April 2022
Source: CoinGecko
DeFi Market CapandDeFi Share ofOverall Market (Jan – Jun 2022)
28. CoinGecko Q2 2022 Cryptocurrency Report 27
Q2 2022 DeFi Daily Active Users
As on-chain activity slowed down, DeFi has managed to retain most of its users
In early May, the number of DeFi users
spiked during the Terra collapsed, as
CEXs halted trading sporadically. As
such, trading volumes on Curve Finance
and Uniswap skyrocketed as holders
were eager to sell their LUNA & UST.
While the market cap has taken a severe
beating, it seem that activity within DeFi
has fared much better.
While daily active users have decreased
from almost 50k to just below 30k, there
were multiple instances in Q2 where the
need for DeFi truly shined.
In the wake of Celsius’ withdrawal
restrictions on June 13th, daily users of
DeFi protocols spiked by 24%. In both
events where centralized entities have
failed, users have flocked to enjoy DeFi’s
permissionless nature.
-34.5%
Decrease in AverageDaily DeFi
Users compared to 1st April 2022
Source: Adapted from @wanxin
*Accounts only for users of DEX and lending protocols on Ethereum
DailyActive DeFi Userson Ethereum(Jan – Jun 2022)
29. CoinGecko Q2 2022 Cryptocurrency Report
59% 58% 54% 53%
58% 60%
7% 7%
7% 7%
8%
9%
4%
6%
4% 4%
6% 5%
5%
5%
6% 6%
6% 5%
5%
5%
6% 6% 10% 11%
5%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
Ethereum BSC Tron Others Avalanche Solana
Polygon Cronos Arbitrum Fantom Terra Classic
28
Q2 2022 DeFi Multichain Market Share
As Terra imploded, old and new contenders arise to take its spot.
$194B $176B $176B $188B
In Q2 2022, Ethereum regained some of
its TVL dominance, as altchains started to
shrink. While Ethereum has increased its
share of TVL from 54% to 60%, its
overall TVL is still 52% lower compared
to Q1 2022.
Avalanche, Polygon and Solana have
maintained their respective TVL shares,
albeit in line with the overall market
downturn.
Although Tron’s TVL has reduced from
$4.8B to $3.9B, Tron’s TVL share has
tripled from 2% to 6%, largely due to the
launch of its algo-stablecoin, USDD.
The collapse of UST and LUNA in May
saw Terra’s TVL shrink to just 5%. By the
end of June, there was just over $21M left
on the network. The new Terra 2.0 network
has even less than that, at $13M TVL.
Multi-chainTotal Value Locked(TVL)Breakdown (Jan– Jun 2022)
$124B $79B
-55.1%
Decrease in Multi-chain DeFiTVL
since 1st April 2022
Source: DefiLlama
*Monthly TVL is calculated by taking the average TVL on daily basis for each month.
*After the collapse of Terra in May 2022, the original Terra network was renamed as Terra Classic.
Market
Share
30. CoinGecko Q2 2022 Cryptocurrency Report 29
Q2 2022 DeFi Ecosystem Overview
Amidst the crypto carnage, most of DeFi sunk lower into the depths
Insurance
$1.1B
Fixed Interest
$0.14B
The devastation continued for DeFi in Q2 2022, as major DeFi sectors suffered
massive decreases in market cap of up to 77%. In its entirety, the DeFi
sector lost ~67% of its market cap compared to the previous quarter, in line
with Ethereum’s plunge from $3,300 to $1,100.
While DEX volumes have remained fairly stable throughout the year (see
later slide for further details), the same cannot be said for their market cap. As
the largest segment of DeFi, DEX tokens saw a sharp drop in price, reducing
the overall market cap by approximately $19.1 billion.
However, in a sea of red, there is still some hope. The asset management
sector increased its share of the market from 1% to 4.4%, moving ahead of
the insurance sector. Largely driven by Tenset, the segment enjoyed a 40%
increase in market cap during the last quarter.
Market Capof Each DeFi Category(Q22022)
DeFi Total Market Capitalization
as of 1st July 2022*
$18.6B
(-67.3%)
Source: CoinGecko
* Categorical market cap includes only governance and utility tokens (excluding stablecoins and wrapped tokens)
32. CoinGecko Q2 2022 Cryptocurrency Report 31
Q2 2022 NFT Trading Volume across Top 8 Chains
NFT volumes drop to new intra-year low in June; Solana & BNB are on the rise
With 83% of the NFT market share in
June, Ethereum is still the dominant
chain by far…on paper.
Discounting the volumes generated by
wash-trades on X2Y2 (which is $600M for
June alone) would put it on relatively equal
footing with Solana – the latest contender
to challenge Ethereum for the NFT crown.
The bear market tore JPEGs to shreds as Q2
trading volume plummeted 26.2%, with
June registering only a measly ~$830M in
total volume – the lowest it’s been since
June 2021 before NFT Summer.
Source: Cryptoslam
Top8 Chainsfor NFT TradingVolume(Jan– Jun 2022)
26.2%
Tradingvolumedecrease
from Q1 2022 to Q2 2022
$4.0B
$2.6B
$2.1B
$3.3B
$2.7B
$0.7B
$0.3B
$0.2B
$0.2B
$0.3B
$0.3B
$0B
$1B
$1B
$2B
$2B
$3B
$3B
$4B
$4B
$5B
$5B
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
Ethereum Solana BNB Flow Polygon Ronin WAX Avalanche
Volume $10.3B $7.6B
BNB was the only chain that saw an
increase in volume (611%), thanks to
STEPN’s move into the ecosystem. The
upcoming Chinese ban on STEPN however
should put a dent into BNB’s numbers.
Meanwhile, Ronin continued its slip
(-88%), with the bridge hack and a collapse
in player revenue the final nails in its coffin.
33. CoinGecko Q2 2022 Cryptocurrency Report 32
Q2 2022 NFT Platform Trading Volumes
OpenSea’s dominance slips in shrinking market as competitors gain grounds
Top5 General NFT Marketplaces(Jan – Jun 2022)
Source: Dapp Radar and r@chen8 from Dune Analytics
*OpenSea volumes incudes Ethereum, Polygon and Solana
**A different data source is used for this slide compared to the previous slide
$4.9B
$3.4B
$2.5B
$3.5B
$2.7B
$0.7B
$0.6B
$0.6B
$0.3B
$0.6B
$1.1B
$0.9B
$0.3B
$2.5B
$1.9B
$0.3B
$0.4B
$0.3B
$0B
$1B
$2B
$3B
$4B
$5B
$6B
$7B
$8B
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
OpenSea X2Y2 MagicEden LooksRare Atomic
Volume $16.9B $12.5B
OpenSea’s integration of Solana seemed to
have “backfired”, opening up the floodgates
for Solana NFTs, but one that ended up
benefitting Magic Eden more. The NFT
market pie may have shrunk but Magic
Eden was getting a much bigger share of
it by the end of Q2 (32%).
OpenSea successfully retained its
teetering hold over the top position.
However in May and June, Magic Eden and
X2Y2 seemed to have caught up, taking
turns to overtake OpenSea’s daily and
even weekly volume.
26.0%
Tradingvolumedecrease
from Q1 2022 to Q2 2022
Similar to LooksRare in Q1, X2Y2 rose
rapidly as traders capitalized on its rebate
and incentive program with wash trades –
without which would put its volume at
around LooksRare’s level.
Despite their superior fee structure,
LooksRare and X2Y2 still lag behind
OpenSea but are slowly gaining ground.
34. CoinGecko Q2 2022 Cryptocurrency Report
Q2 2022 NFT Trends
Move aside sneakers and goblins, the Great PFP Migration is here?
► STEPN’s rise to prominence launched move-to-earn into the spotlight. At its peak in April, STEPN saw >300,000 users a day. Shoes were
trading at an >$1,200 a pair, GST and GMT broke all-time highs, with players raked in ~$48 a day.
► A combination of questionable tokenomics design and the Chinese ban however resulted in waning interests and rapid price dips
afterwards
► Another Pokemon-esque move-to-earn project, Genopets, is on the verge of release and has seemed to capture much of STEPN’s
audience judging from its NFTs’ rising floor prices, but time will tell if things will be different for them.
Move-to-earn
► The words “No roadmap. No Discord. No utility.” are plastered on Goblintown’s website, but that didn’t stop it from going up, up, up.
Goblintown’s ascent was unexpected, but it was hardly surprising. The cryptoverse has always been a space heavily driven by
narratives and memes, and Goblintown’s self-deprecating humor hit the right spot at the right time in a slumping market.
► Following its overnight success, many free-mint projects and copycats started popping up. Free mints dominated the charts (evenover
Punks and Apes) for a while as traders punted on these low-risk-high-reward bets but like so many memes of the past, interests in
Goblins quickly faded.
Goblins& Free Mints
► As it turns out, the Great PFP Migration proved to be more than just a fluke after all. Time and time again, Art Blocks picked up in
volume and prices during times of market turmoil.
► PFP projects in general can be seen as the fast fashion of NFTs, with a de rigueur art style designed for mass appeal. Art Blocks on the
other hand features pieces that most resemble high art
► During a market downturn, traders usually seek solace in more timeless pieces that traditionally hold value better (think classic Chanel
bag designs), and we believe this is precisely what is happening in the case of Art Blocks.
Art Blocks
33
35. CoinGecko Q2 2022 Cryptocurrency Report
Solana NFTs
OpenSea and Magic Eden have forged a gateway into the Solana ecosystem
► Integration of Solana on
the biggest NFT
marketplace, OpenSea,
gathered attention on the
ecosystem
► Solana’s MoM volume
jumped by ~50% in April,
with Solana collections
regularly breaking into the
top volume leaderboard
► The rise of STEPN and
move-to-earn also
ushered in new waves of
users into Solana NFTs
► This generated a spill-over
effect for other up-and-
comingSolana NFT
projects too
► Magic Eden, the leading
NFT platform on Solana,
also exploded onto the
scene as user activities
grew
► It even flipped OpenSea in
daily and weekly volume
on several occasions. It
recently raised$130M at a
valuation of $1.6B 🚀
► The NFT market hasshrunk due to bearish macroeconomic conditions, but Solanahas been chippingaway
Ethereum’s NFTmarketshare
► In fact, the latestnumbers showthatSolanais on par with Ethereum in volumeafter discountingwash trades
► Solana NFTs in general lack thelongevity of Ethereum blue-chips. Time willtell if this momentum can be sustained
in the longrun
OkayBears
Floor: 100 SOL Vol: 1.8M SOL
► First Solana NFT to top theOpenSea volume charts
for consecutiveweeks
► Broke into the Top 2 position, beating out Ethereum
giants like BAYC, MAYC, Punks and more
Trippin’ Ape Tribe
► Led the charge for the “flippening”
► MagicEden finally toppled OpeNSeain daily volume
on 24 and 25 May
Floor: 18.0 SOL Vol: 481k SOL
DeGods
► A Solana “bluechip”collection that hasturned heads
with its exorbitantprice
► First deflationary Solana NFT collection
► NFT holds 2 piecesof art (DeadGod + DeGod)
Floor: 299 SOL Vol: 741k SOL
Notable
Solana
NFT
Collections
34
37. CoinGecko Q2 2022 Cryptocurrency Report 36
Q2 2022 Top 10 Cryptocurrency Exchanges
Monthly spot trading volume dropped below $1T for the first time since Q1 2021
$1.5T
Top-10 CryptocurrencyExchange(CEX + DEX)TradingVolume(Jan – Jun 2022)
Despite the growing apparent risks of
centralized entities, CEXs continue to
increase their dominance. The CEX:DEX
ratio has increased from 89% in Q1 2022
to 92% in Q2 2022.
With looming recession, and continued
deleveraging of the markets, interest in
crypto markets have declined to sobering
levels.
Q2 2022 monthly trading spot volumes
were consolidating above $1T at $1.3T
before finally breaking down to $0.9T in
June 2022. The drop below $1T has not
occurred since the beginning of the bull
market at the start of 2021
-11.3%
Top 10 (DEX + CEX) TotalTrading
VolumeDecline fromQ1 2022
to Q2 2022
$1.2T $1.3T $1.3T $1.3T $0.9T
Trading
Volume
Source: CoinGecko
$1.31T
$1.02T
$1.20T $1.18T $1.21T
$0.86T
$0.18T
$0.13T
$0.13T
$0.09T
$0.11T
$0.07T
$0.0T
$0.2T
$0.4T
$0.6T
$0.8T
$1.0T
$1.2T
$1.4T
$1.6T
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
CEX DEX
0
Total Trading Volume ($ Trillion)
38. CoinGecko Q2 2022 Cryptocurrency Report 37
Q2 2022 Top 10 Centralized Exchanges (CEX)
Binance flexed its dominance, capturing almost 50% of CEX market share
Total Trading Volume ($ Trillion)
Top-10 centralized exchanges recorded a
total of $3.25T in spot trading volume in
Q2 2022. This was a modest decline from
Q1 2022, with June recording the lowest
volume in the year so far.
-7.9%
Top 10 CEX TotalTrading
VolumeDecline fromQ1 2022
to Q2 2022
Both OKX and Crypto.com lost more than
50% of its market share in Q2 2022. On
the flipside, FTX has been steadily growing
and nearly doubled its market share by
the end of Q2 2022.
However, no one can compete with
Binance as they have grown their market
share to capture almost 50% of the
entire market.
Source: CoinGecko
39% 41% 43% 43%
48% 47%
8%
10% 10% 8%
6% 9%
5%
5% 5% 4%
7%
8%
9%
9% 8%
6%
6%
7%
2%
2% 4%
5%
7%
7%
5%
5%
4%
5%
5%
6%
6%
6% 5% 6%
6%
5%
14% 12% 11% 10%
7% 5%
3% 4% 4% 6%
5% 5%
8% 7% 7% 7% 3% 2%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
Binance UpBit FTX Coinbase BitMart Huobi KuCoin OKX Gate Crypto.com
$1.3T $1.0T $1.2T $1.2T $1.2T $0.9T
Top10 CEX TradingVolume Breakdown(Jan – Jun 2022)
Market
Share
39. CoinGecko Q2 2022 Cryptocurrency Report 38
Q2 2022 Top 10 Decentralized Exchanges (DEX)
Monthly trading volume for Q2 2022 was averaging below $100B
Noticeably, DEXs on Solana (i.e. Jupiter and
Serum) and BNB (i.e. Dodo and
Pancakeswap) have either increased or
maintained their relative market share,
signifying real market activity on chains
outside Ethereum.
Top 10 DEXs recorded a total of $274.0
billion in spot trading volume in Q2
2022, giving a monthly average of $92B.
Compare this with Q1 2022 which saw a
total of $446B and a monthly average of
$149B.
-38.6%
Top 10 DEXsTotalTrading
VolumeDecline fromQ1 2022 to
Q2 2022
Combined across all chains, Uniswap is still
the dominant DEX with ~60% market
share. However, Curve recorded the
largest quarterly growth (383%), likely
because of both the (collapsed) USTC pools
and the flight to stablecoins in the bear.
Source: CoinGecko
41%
57% 53%
37%
45%
53%
6%
3%
3%
4%
12%
14%
14%
9%
9%
13%
12%
10%
6%
5%
5%
6%
4%
4%
0%
0%
3%
12%
3%
3%
1%
2% 1% 2% 3%
3%
6%
3% 3% 5%
7%
2%
10%
4% 3% 2% 2%
1%
7%
5% 4% 4% 3% 1%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
Uniswap (v3) Curve Pancakeswap v2 Uniswap (v2) Jupiter
Uniswap (Polygon) Serum BiSwap Sushi Dodo (BSC)
Trader Joe SpookySwap Dodo (ETH) THORswap Osmosis
Top10 DEX TradingVolume Breakdown(Jan – Jun 2022)
$180B $133B $131B $90B $112B $72B
Market
Share
Total Trading Volume ($ Billion)
40. CoinGecko Q2 2022 Cryptocurrency Report 39
Q2 2022 Derivatives Exchanges – Bitcoin Perpetual Swaps Volume
BTC perpetuals trading volume holds steady despite downard price action
Trading volume for Bitcoin perpetuals
across the Top 10 derivatives exchanges
decreased by just $7 billion in Q2 2022.
Monthly trading volume in Q2 2022 has
remained relatively stagnant at ~$1
trillion, in line with volumes in Q1 2022,
despite the downward price action.
Gains made by OKX in terms of market
share in the past quarter has now been
reclaimed by Binance, who controls 65%
of the market.
Source: CoinGecko
-2.4%
Top 10 Bitcoin PerpetualSwap
TradingVolumeDecline in
Q2 2022
59% 62% 59% 57%
62% 65%
13%
13% 16%
15%
13%
12%
11% 11% 10%
10%
11%
10%
6% 5% 5%
6%
4% 4%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
Binance OKX FTX KuCoin BitMex Bybit Huobi dydx Deribit Crypto.Com
Aggregate MonthlyBitcoinPerpetual TradingVolume Dominance (Jan – Jun 2022)
$1.0T $1.0T $1.00T $0.9T $1.0T $1.1T
Market
Share
Total Trading Volume ($ Trillion)
41. CoinGecko Q2 2022 Cryptocurrency Report 40
Q2 2022 Derivatives Exchanges – Bitcoin Perpetual Swaps Open Interest
Gate.io surged to ATH share of OI before eventually equalizing with FTX and Bybit
Open interest (OI) across the top-10
derivatives exchanges recorded a total of
$1.01 trillion in Q2 2022.
At close to a third of the share of open
interest, Binance is still double the size of
its closest contenders, namely, Bybit,
Gate.io, and FTX.
Source: CoinGecko
-1.7%
Top 10 Bitcoin PerpetualSwap
Open Interest Declinein
Q2 2022
35% 36% 34% 32% 30% 32%
17% 16%
15%
13% 13%
15%
13% 13%
14%
13% 13%
14%
12% 13% 16%
20% 19% 14%
5% 5% 7% 7% 7% 8%
5% 5% 5% 4% 4% 3%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
Binance FTX Bybit Gate OKX Deribit KuCoin BitMex Bitfinex Huobi
At the start of Q2, OI reached $398B in
April, marking an ATH for the year.
However, open interest declined for the
next 2 months, dropping by $172B
(-56.9%) from the peak to close out the
quarter in June at $272B.
Aggregate MonthlyBitcoinPerpetual Open Interest Market Share (Jan – Jun 2022)
$358B $309B $357B $399B $346B $272B
Market
Share
Total Open Interest ($ Billion)
42. CoinGecko Q2 2022 Cryptocurrency Report 41
Q2 2022 Derivatives Exchanges – Bitcoin Perpetual Swaps Funding Rate
Once liquidated, twice shy – traders learn from choppy price action
0.007% (+0.4 b.p.)
Weighted-AverageBitcoin Funding
Ratesas of 1st July 2022
Compared to last quarter, funding rates
remained relatively neutral, except for
periods of high volatility, particularly during
cascading liquidations.
After the crash in May from $39k to $30k
negative funding rates spiked for a few
days (reaching as low as -0.09 at one point)
on OKX), before returning to neutral levels.
The second crash from $30k to $20k in
June saw negative funding rates spike to
the -0.03 ranges again, but not nearly as
high as May.
Choppy price action has probably
turned traders off from speculation,
leading to more conservative stances on
Bitcoin’s direction. The exception appears
to be whales on dYdX in late June, where
funding rates spiked to +0.07 before the
market shut down any hopes of a reversal
once again after Bitcoin failed to break the
$22k resistance line.
8-Hour USD-MarginedBitcoinPerpetual FundingRates(Jan – Jun 2022)
Source: Coinglass
*Consists of 8-hour funding rates from Bitmex, Binance, FTX, Huobi, Gate.io, OKEx, dYdX and Bybit from 1 January 2022 to 1 July 2022
43. CoinGecko Q2 2022 Cryptocurrency Report 42
Q2 2022 Performance of GBTC and $BITO
AUMs of GBTC and BITO slide; SEC rejects GBTC’s Bitcoin spot ETF application
Bitcoin Price and Spot Trading Volume Apr ‘21 - Oct '21
Total AUMofGBTC& BITO(Jan – Jun 2022)
GBTC& BITOPremium/Discount toNet Asset Value (NAV)in Q12022
The AUM of both GBTC and BITO
unsurprisingly mirrored the price action of
BTC in Q2, registering a whopping -58.5%
and -53.1% drop, respectively. If it’s any
consolation, GBTC remains as the largest
BTC investment vehicle despite having its
AUM slashed by half to ~$12.4B.
The same tragic story continued for GBTC
as it perpetually traded at a deep
discount to its NAV throughout Q2,
which is now at >30%. Its share price has
plummeted by >64%.
The hopium for better days was dashed
as the SEC rejected GBTC’s BTC Spot ETF
application. All eyes are now on the legal
battle to ensue as GBTC launched a
lawsuit to challenge SEC’s rejection.
The SEC’s decision wasn’t news as the
agency has rejected dozens of similar
applications, including applications from
NYDIG, Fidelity, Wisdom Tree and more.
Source: YCharts
$0B
$1B
$2B
$3B
$4B
$5B
$0B
$10B
$20B
$30B
$40B
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
GBTC BITO
-5%
-3%
-1%
1%
3%
5%
-35%
-25%
-15%
-5%
5%
15%
25%
35%
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
GBTC BITO
-58.5% (Q2 2022)
30.1B 29.8B
12.4B
1.2B 1.3B
0.6B
-53.1% (Q2 2022)
GBTC Deviation from NAV (Q2 2022)
Average = 27.2% Discount
Lowest Discount = -21.2%
Highest Discount = -34.1%
BITO Deviation from NAV (Q2 2022)
Average = 0.04% Discount
Highest Premium = 0.17%
Highest Discount = -0.45%
0.02% 0.06%
-21.3%
-25.5%
-31.4%
0.10%
With competitors in place, BITO has been
able to maintain a monopolistic dominance
with >$600M AUM, with SPBC being a
distant second with only ~$85M.
44. CoinGecko Q2 2022 Cryptocurrency Report
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