Summary of key points of Binance Research Institute’s September crypto market report
1. During Token2049, Telegram announced that it would integrate the TON encryption wallet and support the TON-based Web3 ecosystem, which promoted the price increase of TON. Telegram’s 800 million user base offers the potential for mass adoption.
2. The adoption rate of account abstraction (AA), that is, smart contract wallets, is rising, and transaction volume is increasing month by month. With more than 870,000 independent AA accounts and more than 2.3 million successful smart contract transactions completed, Layer 2 has been the core of growth.
3. The total market value of stablecoins has declined for 18 consecutive months, falling to a new low of $123.8 billion (the lowest level since September 2021). It may be affected by a variety of factors, and investors will allocate capital to other non-cryptocurrencies. Financial product.
4. Chat Bots on Telegram are a new trend, providing user-friendly alternatives for DeFi applications, and the market competition is fierce. Banana Gun is one of them and has become one of the most Gas-consuming applications on the Ethereum platform.
5. The structure of the decentralized perpetual contract platform has changed. New platforms and existing players such as ApolloX have made significant progress, while dYdX and GMX, which once held major market shares, are facing challenges.
1. During Token2049, Telegram announced that it would integrate the TON encryption wallet and support the TON-based Web3 ecosystem, which promoted the price increase of TON. Telegram’s 800 million user base offers the potential for mass adoption.
2. The adoption rate of account abstraction (AA), that is, smart contract wallets, is rising, and transaction volume is increasing month by month. With more than 870,000 independent AA accounts and more than 2.3 million successful smart contract transactions completed, Layer 2 has been the core of growth.
3. The total market value of stablecoins has declined for 18 consecutive months, falling to a new low of $123.8 billion (the lowest level since September 2021). It may be affected by a variety of factors, and investors will allocate capital to other non-cryptocurrencies. Financial product.
4. Chat Bots on Telegram are a new trend, providing user-friendly alternatives for DeFi applications, and the market competition is fierce. Banana Gun is one of them and has become one of the most Gas-consuming applications on the Ethereum platform.
5. The structure of the decentralized perpetual contract platform has changed. New platforms and existing players such as ApolloX have made significant progress, while dYdX and GMX, which once held major market shares, are facing challenges.