Binance Research September Market Report: AA adoption increases, stablecoin market value decreases, Telegram inspires potential adoption

深潮 TechFlow · 2023-10-05T12:13:04.000Z

According to Deep Trend TechFlow news, Binance Research has released its latest report, which provides an in-depth study of the crypto market dynamics in September, including topics such as DeFi, account abstraction, stablecoins, and second-layer protocols (L2). The report is summarized as follows: The adoption of Account Abstraction (AA) continues to increase, with the number of monthly transactions trending upward. Data shows that there are 870,000 AA accounts and more than 2.3 million successful smart account transactions. The L2 protocol drives most of the activity, with Polygon accounting for 50%, Optimism 20%, and Arbitrum 12%. A large number of transactions on Polygon and Optimism are led by CyberConnect, a decentralized social network where all accounts are ERC-4337 smart accounts. Learn-to-earn dApp Capx and watch-to-earn platform FanTV have also been major drivers of Polygon’s recent AA activity.

According to TechFlow, Binance Research released its latest report, which deeply studied the dynamics of the crypto market in September, including topics such as DeFi, account abstraction, stablecoins, and second-layer protocols (L2). The report is summarized as follows:
Account Abstraction (AA) adoption continues to increase, with the number of monthly transactions on an upward trend. Data shows that there are 870,000 AA accounts, with more than 2.3 million successful smart account transactions. L2 protocols drive most of the activity, with Polygon accounting for 50%, Optimism accounting for 20%, and Arbitrum accounting for 12%. A large number of transactions on Polygon and Optimism are led by CyberConnect, a decentralized social network where all accounts are ERC-4337 smart accounts. The learn-to-earn dApp Capx and the watch-to-earn platform FanTV are also the main drivers of Polygon's recent AA activity.
The market value of stablecoins continued to decline, falling to $123.8 billion, the lowest since September 2021, and has fallen for 18 consecutive months. A variety of factors may cause investors to reallocate funds to other non-crypto financial instruments.
During Token2049, Telegram announced that it was integrating the TON crypto wallet and supporting TON’s Web3-based ecosystem, which led to a surge in TON’s price. Given that Telegram has 800 million users, this collaboration could spark mass adoption.
Chatbot adoption is a relatively new trend on Telegram, providing a user-friendly alternative to DeFi applications. The market is highly competitive, with some Telegram bots such as Banana Gun becoming one of the largest gas consumers on Ethereum after launching its own token.
The DeFi perpetual contract market has changed significantly. Traditional protocols such as dYdX, GMX, and Gains Network used to dominate, but ApolloX has become an important player after its trading volume market share increased by more than 450% month-on-month, challenging the dominance of traditional protocols such as dYdX and GMX.