CoinVoice recently learned that on October 7, Binance Research Institute released the September crypto market report, which covers topics such as DeFi, stablecoins, Layer2, account abstraction, etc. The report pointed out that the fluctuation of the total market value of the crypto market in September was negligible, but there were still many noteworthy developments in the market:
1. The total market value of stablecoins has fallen for 18 consecutive months, falling to a new low of US$123.8 billion (the lowest level since September 2021). There may be many factors that have influenced investors to allocate capital to other non-crypto financial products.
2. During Token2049, Telegram announced that it would integrate the TON crypto wallet and support the TON-based Web3 ecosystem, which led to a rise in the price of TON. Given Telegram's 800 million user base, this collaboration has stimulated the possibility of mass adoption.
3. Chat Bots on Telegram are a relatively new trend that provide a user-friendly alternative to existing DeFi applications and present a fierce competition in the market. Banana Gun is a Telegram Bot application. Since launching its own token, Banana Gun has risen in the rankings and is now one of the applications that consume the most gas on the Ethereum platform.
4. The landscape of decentralized perpetual contract platforms has undergone significant changes. Once upon a time, platforms like dYdX, GMX, and Gains Network held major market share. However, starting in September, both new platforms and existing players, especially ApolloX, made clear progress.
5. The adoption rate of account abstraction (AA), i.e. smart contract wallets, continues to rise, and transaction volume is growing month by month. Data shows that there are more than 870,000 independent AA accounts, and more than 2.3 million successful smart contract transactions have been completed. [Original link]
