Our latest State of Crypto Report summarises all the key insights, events, and learnings from Q3.
Find everything you need to know about developments in the space, including analysis of:
🔸 Layer 1s & 2s
🔸 DeFi
🔸 NFTs
🔸 Gaming
Read the full report here: Q3 State of Crypto: Market Pulse
Market Pulse is a compilation of key charts and insights by Binance Research, shedding light on the state of crypto.
Market Overview: Q3 was a challenging quarter. Total crypto market capitalization declined by 8.6% QoQ amidst a challenging market environment. Nonetheless, institutional adoption continued to gain traction.
Layer 1s & 2s: Activity on L1s has generally fallen across the board. Ethereum L2s have seen signs of rejuvenation with the launch of Base driving transaction activity.
DeFi: Total value locked (“TVL”) in DeFi declined 13.1% QoQ to US$38.5B, contributed by low DeFi yields, a risk-off environment, and a decline in ETH price.
NFTs: Q3 marked the worst quarter for NFT sales in nearly three years, at US$299M in sales. This can be attributed to a decline in floor prices of most collections and the price of ETH.
Gaming: The gaming landscape was led by BNB Chain, Ethereum, and Polygon, with around 66% market share (by number of games).
Read the full report here: Q3 State of Crypto: Market Pulse
