Binance Research (JieXuan Chua, CFA, Shivam Sharma, Stefan Piech, Kevin Son)
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Market Pulse is a compilation of key charts and insights by Binance Research, shedding light on the state of crypto.
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Market Overview: Crypto market capitalization increased by 8.4% QoQ in Q3 but overall sentiments remain poor.
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Layer 1s: Blockchain activity generally trended lower in Q3. Spotlight was on the Ethereum Merge in September.
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DeFi: Following a steep drop in May, DeFi Total Value Locked has yet to recover, and was range-bound between US$50-60B in Q3.
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NFTs: NFTs had a tough Q3 with sales down 73% QoQ. However, number of unique buyers held up and saw a slight uptick over the quarter.
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GameFi: The gaming landscape is led by BNB Chain, Ethereum, and Polygon, with almost 70% market share (by number of games).
About Binance Research: Binance Research is the research arm of Binance, the world’s leading cryptocurrency exchange. The team is committed to delivering objective, independent, and comprehensive analysis and aims to be the thought leader in the crypto space. Our analysts publish insightful thought pieces regularly on topics related but not limited to, the crypto ecosystem, blockchain technologies, and the latest market themes.
General Disclosure: This material is prepared by Binance Research and is not intended to be relied upon as a forecast or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities, cryptocurrencies or to adopt any investment strategy. The opinions expressed are as of the date shown above and are the opinions of the writer, they may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources deemed by Binance Research to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. As such, no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by Binance. This material may contain ’forward looking’ information that is not purely historical in nature. Such information may include, among other things, projections and forecasts. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader. This material is intended for information purposes only and does not constitute investment advice or an offer or solicitation to purchase or sell in any securities, cryptocurrencies or any investment strategy nor shall any securities or cryptocurrency be offered or sold to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the laws of such jurisdiction. Investment involves risks.
