Presentación del taller de uso y creación de recursos educativos abiertos, impartido en la Facultad de Psicología de la Universidad Autónoma de Nuevo León como parte de la Semana de la Educación Abierta
Binance is one of the most popular an international multi-language cryptocurrency exchange.Clients on the Binance Cryptocurrency Exchange can get a 50% on exchanging charges by paying with the BNB token.
Crypto currency is a digital currency that uses cryptography for security and anonymity without a central authority. Some key events include Wei Dai's description of an anonymous digital cash system in 1998 and Bitcoin's launch in 2009. Crypto currencies allow for fast, international transactions with low fees and no waiting periods. However, they also face issues like volatility, lack of awareness, and potential for theft. While still developing, crypto currencies aim to change global finance similar to how email changed communication.
Complete guide to Ripple XRPs. Everything you want to know about Ripple XRPs is here. This emerging digital currency seems to be promising and can attract lots of users to enjoy reliable and safe trading. Get ready to “Send money to anyone, anywhere and in any currency.”Ripple is all set to please you.
Blockchain Technology: A Technical Introduction to Non-Technical PeopleMecklerMedia
This document provides a technical introduction to blockchain and Bitcoin for non-technical audiences. It explains core concepts like asymmetric encryption, Bitcoin addresses and transactions, the blockchain as a public ledger, mining and how transactions are ordered, and challenges like scalability and volatility. It also discusses potential applications of blockchain technology beyond currency, such as using it to prove ownership of assets like land titles, art, stocks, and digital identities.
Nft marketplace development to buy & sell nft tokens coinjokeramarasophi
Coinjoker - A leading NFT marketplace software development company creates a customized NFT platforms like Rarible, Opensea, Foundation etc. We provide NFT marketplace development with NFTs are unique, scarce, liquid, and usable across many applications.
Central Bank Digital Currencies (CBDCs) are being explored by central banks globally as interest in digital currencies grows. The document discusses key drivers for CBDCs including improving payment efficiencies, financial inclusion and enhancing monetary policy. It provides an overview of CBDC projects underway in various countries and regions, with China, Cambodia, the Bahamas, Eastern Caribbean and Nigeria having implemented live CBDCs. The models vary in terms of technology used, offline usability and transaction limits.
The document summarizes a workshop on digital game-based learning. The workshop covers introducing learning through digital games, choosing and using games in lessons, and game design basics. Participants will discuss games they play, how games can be used in class, and game design. Key topics include the learning potential of games, serious games designed for purposes beyond entertainment, and analyzing and designing games. The agenda includes introducing games for learning, principles of game design, and developing game concepts using paper prototyping.
Deep Diving Into ETH Liquid Staking | CoinGeckoCoinGecko
The launch of Ethereum's Beacon chain in December 2020 brought staking rewards to validators but required a hefty 32 ETH stake, prompting the emergence of pooled staking and Liquid Staking Derivatives (LSDs). By August 2023, LSD protocols accounted for 43.7% of the total 26.4 million ETH staked. Post-Shapella, LSD staking surged, causing long entry queues while exit queues remained minimal. Top 8 LSDs yielded an average of 4.4% APY since January 2022, with Frax leading. However, yields are expected to decrease as more ETH is staked.
LSDs have distributed about 100,000 ETH in quarterly staking rewards, capturing over half of all ETH emissions since late 2022. This growth has given rise to LSDFi, with Lybra, Pendle, and EigenLayer dominating the sector, growing by 58.7x since January 2023. Despite these gains, concerns about cartelization and concentration loom, prompting debates about self-limitation within the protocol and LSDs.
Join us as dive into the realm of ETH liquid staking, how LSDs have become one of the largest segments in DeFi, as well as the growth of the LSDFi sector.
Digital Currency Systems: Emerging B2B e-Commerce Alternative During Monetary...cjwells
Digital currency systems form the triumvirate nexus of government policies, money, and technology. Each has a global reach and responds to the needs of business and consumers. E-commerce depends on private and government financial institutions to enable payment transactions, the basis of e-commerce. As the United States financial crisis continues B2B enterprises may need to abandon traditional payment transaction systems and look to alternatives in the form of Web-based digital currency systems accessed via the Internet. The various types of digital currency systems generally fit into five categories: barter exchange software systems, non-bank digital currency payment systems, digital precious metal systems, online value transfer software systems, and online stored value transaction software systems. Digital currency systems are not online banking. Digital currency systems use private electronic monies: electronic tokens, barter-exchange currencies, digital cash, and stored value e-cash vouchers.
We explore the history of money against a backdrop of banking and government policies that cause cyclic monetary crises, how these current digital systems operate, how business can thereby benefit in their use, and why digital currency systems are such an underutilized service in the United States.
The quarterly report provides an overview of the cryptocurrency market in Q2 2022. Some key points:
- The total cryptocurrency market cap fell over 55% in Q2, dropping below $1 trillion as major coins like Bitcoin and Ethereum plunged in value.
- Stablecoins like USDT, USDC and BUSD gained dominance within the top 30 cryptocurrencies. Terra's UST stablecoin collapsed after losing its peg.
- Nearly all cryptocurrencies saw double-digit price drops in Q2, with DeFi tokens hit particularly hard. The collapse of Terra and its stablecoin UST contributed to the market decline.
- Trading volumes remained steady around $100B
The report provides an overview and analysis of the cryptocurrency market and industry in 2022, which saw a 64% decline in total market cap from challenges including macroeconomic conditions, regulatory issues, and high-profile project failures such as Terra Luna and FTX. Key trends included dominance of stablecoins like USDT and USDC while prices fell across most cryptocurrencies. The document analyzes performance of top coins and sectors like DeFi, NFTs, and exchanges for the year.
2023 Q1 Crypto Industry Report | CoinGeckoCoinGecko
A new year brings new beginnings, as the crypto market woke from its end-2022 hibernation to shake off the bears, increasing 48.9% from a total market cap of $831.8B on Jan 1, 2023 to $1.238T on Mar 31, 2023. While it was not smooth sailing all the way, this run reversed losses stemming from FTX’s collapse, returning the market to heights before the Ethereum Merge. Prices of Bitcoin (BTC) and Ethereum (ETH) are now hovering around $28,000 and $1,800 respectively, with BTC performing particularly well, gaining close to 70% this quarter.
Our comprehensive 2023 Q1 Crypto Industry Report covers everything from the crypto market landscape to analyzing Bitcoin and Ethereum, deep diving into the decentralized finance (DeFi) and non-fungible token (NFT) ecosystems, and reviewing how centralized exchanges (CEX) and decentralized exchanges (DEX) have performed.
2023 Q2 Crypto Industry Report | CoinGeckoCoinGecko
After the exuberance of Q1, the crypto market took Q2 to consolidate the gains and increased slightly by 0.14%, from a total market cap of $1.238 trillion on March 31, 2023, to $1.240 trillion on June 30, 2023. April and May were relatively quiet months, particularly after Ethereum’s Shapella upgrade on April 12 as the market was absent of any strong overarching narrative. Prices of Bitcoin (BTC) and Ethereum (ETH) are now hovering around $30,000 and $1,900 respectively, with BTC climbing 6.9%, while ETH increased by 6.0% in Q2.
Our comprehensive 2023 Q2 Crypto Industry Report covers everything from the crypto market landscape to analyzing Bitcoin and Ethereum, deep diving into the decentralized finance (DeFi) and non-fungible token (NFT) ecosystems, and reviewing how centralized exchanges (CEX) and decentralized exchanges (DEX) have performed.
2023 Q3 Crypto Industry Report | CoinGeckoCoinGecko
A significant market downturn in mid-August split the relatively slow Q3 into two parts. With limited liquidity on cryptocurrency exchanges, Bitcoin's (BTC) value plummeted from around $29,000 to approximately $26,000 within a single day on August 17, causing the total cryptocurrency market capitalization to drop from $1.2 trillion to $1.1 trillion.
Despite the absence of any major market-related news on that particular day, it appeared as if traders were winding down their activities for the remainder of the summer. Trading volumes on centralized exchanges have declined by 20.2% in the third quarter compared to the second quarter. Despite it being a pretty eventful three months, the crypto market was absent of any momentum.
Our comprehensive 2023 Q3 Crypto Industry Report covers everything from the crypto market landscape to analyzing Bitcoin and Ethereum, deep diving into the decentralized finance (DeFi) and non-fungible token (NFT) ecosystems, and reviewing how centralized exchanges (CEX) and decentralized exchanges (DEX) have performed.
2024 Q1 Crypto Industry Report | CoinGeckoCoinGecko
After a strong 2023 Q4, the total crypto market cap continued rallying by +64.5% in 2024 Q1, reaching a high of $2.9 trillion on March 13.
In absolute terms, the growth of this quarter (+$1.1 trillion) was almost double that of the previous quarter (+$0.61 trillion). This was largely driven by the approval of US spot Bitcoin ETFs in early January, sending BTC to a new all-time high in March.
Our comprehensive 2024 Q1 Crypto Industry Report covers everything from the crypto market landscape to analyzing Bitcoin and Ethereum, deep diving into the decentralized finance (DeFi) and non-fungible token (NFT) ecosystems, and reviewing how centralized exchanges (CEX) and decentralized exchanges (DEX) have performed.
We’ve summarized the key highlights, but be sure to dig into the full 50 slides below.
2023 Annual Crypto Industry Report | CoinGeckoCoinGecko
In the fourth quarter of 2023, the crypto market experienced a surge in anticipation related to ETFs, particularly with the growing optimism surrounding the potential approval of US spot Bitcoin ETFs. This optimism contributed to a bullish market sentiment, leading to a significant increase in the total crypto market cap from $1.1 trillion to $1.6 trillion, marking a 55% rise. During this period, the price of Bitcoin soared from $27,000 to $42,000.
When considering the entire year of 2023, the crypto market witnessed substantial growth, more than doubling its total market cap from $832 billion at the beginning of the year. This remarkable expansion was primarily driven by Bitcoin's impressive resurgence, experiencing a 2.6x increase. After the challenges and stagnation experienced in 2022, 2023 proved to be a robust year of recovery for the crypto industry.
Our comprehensive 2023 Crypto Industry Report covers everything from the crypto market landscape to analyzing Bitcoin and Ethereum, deep diving into the decentralized finance (DeFi) and non-fungible token (NFT) ecosystems, and reviewing how centralized exchanges (CEX) and decentralized exchanges (DEX) have performed.
Hello fellow crypto enthusiasts!
As we come to the end of the year, it's a good time to look back at the events that shaped the crypto market in 2022. It's been an exciting year to say the least, with plenty of highs and lows. In the year end report we take a dig at some of the major events and analysis from the Crypto World.
CoinGecko 2019 Year End Cryptocurrency ReportCoinGecko
This is the tenth cryptocurrency report produced by CoinGecko covering the full year of 2019.
In this report, we summarize and highlight the market dynamics in the cryptocurrency market such as:
- Market capitalization growth, volume change, and price movement
- Exchanges & Stabelcoins
- Crypto companies M&A
- 2020 Predictions from 20+ Thought Leaders
- 2020 Key Events
- Ethereum 2.0 Overview
- DeFi Growth
- Decentralized application (Dapp), Non-Fungible Tokens (NFT), and Masternodes market summary
Download the full report here:
https://bit.ly/coingecko-2019-report
View all of CoinGecko's historical quarterly reports here:
https://reports.coingecko.com/all-report
CoinGecko 2018 Full Year Cryptocurrency ReportCoinGecko
This is the sixth cryptocurrency report produced by CoinGecko covering the full year of 2018.
In this report, we summarize and highlight the market dynamics in the cryptocurrency market such as:-
- Market capitalization growth, volume change, and price movement
- Cryptocurrency exchange ranking, volume & dominance
- Initial Coin Offerings (ICOs) trends
- Stablecoins trends
- Timeline of major events & regulatory updates
- Bitcoin Cash split
- Decentralized applications (dapps) trends
- Security Tokens insights
- Masternodes insights
- Non-Fungible Tokens trends
- and many more...
Download the full report here:
http://reports.coingecko.com/2018-report
View all of CoinGecko's historical quarterly reports here:
http://reports.coingecko.com/all-reports
South korean crypto market overview, nov 2020Xangle.io
The South Korean Crypto Market Overview, published jointly by Xangle and Chainalysis, revealed that the cumulative value of trading volume from the 4 big crypto assets exchanges in South Korea reached about $93 billion from June to October of this year.
Among the many interesting details to come out of the report was the fact that over those 5 months, altcoin trading volume exceeded the global average while Bitcoin trading volume fell short of the global average. According to CMC, Bitcoin accounted for 26% of global trading volume whereas Bitcoin only accounted for 15.3% of trading volume in South Korea.
Earn.World - Report June 2023
Earn.World - Presentation –
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Earn.World - Report - October 2023
🌐 Earn.World Onboarding ⚡️
👉 1) Imagine: 4-12% profit per month on your money
👉 2) Not a start-up but 8+ years of success on the market with over 300 billion in volume
👉 3) Now on OUR blockchain with 100% transparency and available to everyone from just 100 USD
👉 4) Imagine: You have 24/7 access to your money. Can withdraw at ANY TIME or deposit back for compounding
👉 5) Talk about it and let us pay you in real time from your customers' profits for life 🚀
✔️ Six easy steps to get started
1. ☄️ Log in to your Earn.World account - register here - Earn.World 🌐 https://web.earn.world/auth/signup/6767352523/
2. 🔼 Fund your account with USDT to activate your preferred trading infrastructure.
3. 📊 Choose your “Infrastructure” and buy it (Note: Even the amount paid to Trading Infra already earns you 4-7% monthly).
4. ⚠️ Open your EarnWorld dashboard by clicking “Deposit”.
5. 🔽 Whatever you deposit/trade in EarnWorld's portfolio, you can withdraw it at any time for free.
6. 🛍 Enjoy up to 12% per month.
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Oct 15-Nov 13 2022 On-Chain Digest - Bleeding Out.pdfSGB Media Group
The document summarizes key on-chain metrics and trends for major cryptocurrencies like Bitcoin, Ethereum, Dogecoin, and others between October 15th and November 13th. It finds that while Bitcoin and Ethereum transaction volumes and fees declined year-to-date, Dogecoin and Ethereum saw significant increases in these metrics over the last 30 days. Network activity like transactions and active addresses were mixed, with Dogecoin, Bitcoin, and Cardano addresses increasing but activity generally declining for assets like Algorand.
Similar to CoinGecko Q3 2022 Quarterly Report (20)
2024 Q2 Crypto Industry Report | CoinGeckoCoinGecko
After nearly breaching all-time highs in 2024 Q1, the total crypto market cap returned some of those gains in Q2, dropping -14.4%, closing at $2.43 trillion in June.
2024 Q2 brought Bitcoin’s long-anticipated fourth halving, which went off without a hitch. Each halving ushers in what crypto natives consider a new era, though the market response to the event was largely muted. After the exuberance in Q1 following the approval of the US spot Bitcoin ETFs, Q2 proved to be pretty choppy for Bitcoin and the crypto market as a whole.
But that doesn’t mean it wasn’t an eventful quarter.
Our comprehensive 2024 Q2 Crypto Industry Report covers everything from the crypto market landscape to analyzing Bitcoin and Ethereum, deep diving into the decentralized finance (DeFi) and non-fungible token (NFT) ecosystems, and reviewing how centralized exchanges (CEX) and decentralized exchanges (DEX) have performed.
We’ve summarized the key highlights, but be sure to dig into the full 51 slides below.
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGeckoCoinGecko
Real World Assets (RWAs) in crypto have a long history, starting with fiat-backed stablecoins such as Tether (USDT). However, since the introduction of DeFi in 2020, and the bear market of 2022, a more diverse variety of RWAs have been tokenized to cater to the needs of on-chain investors. While RWAs are still predominantly focused on debt / credit, other assets such as real estate, art & collectibles, etc have also piqued the interest of investors.
Fundamentally, RWA projects live at the intersection between the real world and blockchains, and between issuers and investors. Whether they can act as an effective intermediary at these intersections will be pivotal to their success. While there will inevitably be reliance on third parties, such as oracles, custodians, credit assessors, and more, how these are effectively utilized and managed will remain crucial for their continued operations.
We’ve summarized the key highlights, but be sure to dig into the full 21 slides below.
RWA Report 2024: Rise of Real-World Assets in Crypto | CoinGeckoCoinGecko
Real World Assets (RWAs) in crypto have a long history, starting with fiat-backed stablecoins such as Tether (USDT). However, since the introduction of DeFi in 2020, and the bear market of 2022, a more diverse variety of RWAs have been tokenized to cater to the needs of on-chain investors. While RWAs are still predominantly focused on debt / credit, other assets such as real estate, art & collectibles, etc have also piqued the interest of investors.
Fundamentally, RWA projects live at the intersection between the real world and blockchains, and between issuers and investors. Whether they can act as an effective intermediary at these intersections will be pivotal to their success. While there will inevitably be reliance on third parties, such as oracles, custodians, credit assessors, and more, how these are effectively utilized and managed will remain crucial for their continued operations.
We’ve summarized the key highlights, but be sure to dig into the full 22 slides below.
GameFi Report 2023: GameFi Levels Up | CoinGeckoCoinGecko
Early crypto games launched way back in 2017, with CryptoKitties becoming the earliest craze, causing congestion on the Ethereum network. CryptoKitties led to the creation of the ERC-721 NFT standard, and the first game-centric chain Flow.
The First GameFi Wave in 2021, ushered in by Axie Infinity and later StepN brought new GameFi trends such as Play-to-Earn (P2E) and Move-to-Earn (M2E). Blockchain games across a variety of genres quickly followed, and quickly spread beyond Ethereum onto more performant chains with cheaper gas fees.
While most of these games eventually collapsed due to overly-simplistic gameplay and unsustainable tokenomics, a few of them such as Alien Worlds, Farmers World, Splinterlands and Axie Infinity have survived until today, albeit with a much smaller community of active addresses. Compared to the peak of GameFi in November 2021, the number of active participating addresses have declined by 57.9% to 837k.
We’ve summarized the key highlights, but be sure to dig into the full 21 slides below.
The State of Decentralized Perpetual Protocols | CoinGeckoCoinGecko
As fears of another crypto exchange collapsing have gotten the community on edge, more crypto users are turning towards decentralized perpetual protocols to satiate their demand for leveraged trading. Throughout the recent bear market, perpetual exchanges have been a beacon of light in the otherwise gloomy state of DeFi, providing an avenue for users to trade with leverage in a permissionless way while allowing liquidity providers to earn sustainable fees in an environment starved for yield.
Dive into our State of Decentralized Perpetual Protocols Report as we explore the history and evolution of decentralized perpetuals, how they have performed thus far, and what we can expect from decentralized perpetuals in the near future.
The Global Crypto Classification Standard by 21Shares & CoinGeckoCoinGecko
We are pleased to release the Global Crypto Classification Standard (GCCS) jointly developed by 21Shares and CoinGecko, which serves as an industry taxonomy and uniformed way to categorize cryptoassets.
Crypto, with its unfamiliar technology stack and sheer number and variety of projects and tokens, terminology and jargon, may be daunting and overwhelming to industry newcomers. The GCCS provides a clear framework to classify various projects and cryptoassets within the space, so that users and investors can easily identify what a project does, and where they sit as part of the larger crypto stack.
Read more: https://www.coingecko.com/research/publications/global-crypto-classification-standard
As NFT projects continue to pop up and censorship woes become a reality, decentralized storage has become a beacon of hope for many. Let’s check out how much the decentralized storage sector has grown!
This is the fourth cryptocurrency report produced by CoinGecko covering the second quarter of 2018.
In this report, we summarize and highlight the market dynamics in the cryptocurrency market such as:-
- Market cap growth, volume change, and price movement
- % change from All Time High
- Timeline of major events & regulatory updates
- Initial Coin Offerings (ICOs)
- Cryptocurrency exchange ranking, volume & dominance
- Twitter analysis
- Decentralized Applications (dApps) Trends
- and many more...
Download the full report here:
http://reports.coingecko.com/2018-q2-en
View all of CoinGecko's historical quarterly reports here:
http://reports.coingecko.com/all-reports
This is the third cryptocurrency report produced by CoinGecko covering the first quarter of 2018.
In this report, we summarize and highlight the market dynamics in the cryptocurrency market such as:-
- Market cap growth, volume change, and price movement
- Timeline of all major events worldwide
- Key regulatory updates
- Initial Coin Offerings (ICOs)
- % change from All Time High
- and many more...
Download the full report here:
http://www.newsletter.coingecko.com/landing/2018-q1-report
2017 Year in Review Cryptocurrency Report by CoinGeckoCoinGecko
This document provides a year-end review and analysis of the cryptocurrency market in 2017. It finds that the total market capitalization grew exponentially over the year, with increased trading volumes and high volatility. Bitcoin's market dominance fell below 50% by the end of 2017, while Ripple surged in value and market share to become the second largest cryptocurrency. The review also examines price growth, market breakdowns, and rankings of the top 30 cryptocurrencies by market capitalization for the year.
Q3 2017 Cryptocurrency Report by CoinGeckoCoinGecko
CoinGecko presents our first cryptocurrency report covering Q3 of 2017. In this report, we summarize and highlight the market dynamics in the cryptocurrency market such as market cap growth, volume change, and price movement. We also conducted some fun analysis comparing the price of Bitcoin and Ethereum against the Big Mac index.
Communications Mining Series - Zero to Hero - Session 3DianaGray10
This is a continuation to previous session focused on Model usage and adapting for Analytics and Automation usecases. We will understand how to use the Model for automation usecase with a demo.
• Model Usage and Maintenance
• Analytics Vs Automation Usecases
• Demo of Model usage
• Q/A
Mastering OnlyFans Clone App Development: Key Strategies for SuccessDavid Wilson
Dive into the critical elements of OnlyFans clone app development, from understanding user needs and designing engaging platforms to implementing robust monetization strategies and ensuring scalability. Discover how RichestSoft can guide you through the development process, offering expert insights and proven strategies to help you succeed in the competitive market of content monetization.
It's your unstructured data: How to get your GenAI app to production (and spe...Zilliz
So you've successfully built a GenAI app POC for your company -- now comes the hard part: bringing it to production. Aparavi addresses the challenges of AI projects while addressing data privacy and PII. Our Service for RAG helps AI developers and data scientists to scale their app to 1000s to millions of users using corporate unstructured data. Aparavi’s AI Data Loader cleans, prepares and then loads only the relevant unstructured data for each AI project/app, enabling you to operationalize the creation of GenAI apps easily and accurately while giving you the time to focus on what you really want to do - building a great AI application with useful and relevant context. All within your environment and never having to share private corporate data with anyone - not even Aparavi.
Improving Learning Content Efficiency with Reusable Learning ContentEnterprise Knowledge
Enterprise Knowledge’s Emily Crockett, Content Engineering Consultant, presented “Improve Learning Content Efficiency with Reusable Learning Content” at the Learning Ideas conference on June 13th, 2024.
This presentation explored the basics of reusable learning content, including the types of reuse and the key benefits of reuse such as improved content maintenance efficiency, reduced organizational risk, and scalable differentiated instruction & personalization. After this primer on reuse, Crockett laid out the basic steps to start building reusable learning content alongside a real-life example and the technology stack needed to support dynamic content. Key objectives included:
- Be able to explain the difference between reusable learning content and duplicate content
- Explore how a well-designed learning content model can reduce duplicate content and improve your team’s efficiency
- Identify key tasks and steps in creating a learning content model
EuroPython 2024 - Streamlining Testing in a Large Python CodebaseJimmy Lai
Maintaining code quality through effective testing becomes increasingly challenging as codebases expand and developer teams grow. In our rapidly expanding codebase, we encountered common obstacles such as increasing test suite execution time, slow test coverage reporting and delayed test startup. By leveraging innovative strategies using open-source tools, we achieved remarkable enhancements in testing efficiency and code quality.
As a result, in the past year, our test case volume increased by 8000, test coverage was elevated to 85%, and Continuous Integration (CI) test duration was maintained under 15 minute
The History of Embeddings & Multimodal EmbeddingsZilliz
Frank Liu will walk through the history of embeddings and how we got to the cool embedding models used today. He'll end with a demo on how multimodal RAG is used.
leewayhertz.com-AI agents for healthcare Applications benefits and implementa...alexjohnson7307
In recent years, the integration of artificial intelligence (AI) in various sectors has revolutionized traditional practices, and healthcare is no exception. AI agents for healthcare have emerged as powerful tools, enhancing the efficiency, accuracy, and accessibility of medical services. This article explores the multifaceted role of AI agents in healthcare, shedding light on their applications, benefits, and the future they herald.
Retrieval Augmented Generation Evaluation with RagasZilliz
Retrieval Augmented Generation (RAG) enhances chatbots by incorporating custom data in the prompt. Using large language models (LLMs) as judge has gained prominence in modern RAG systems. This talk will demo Ragas, an open-source automation tool for RAG evaluations. Christy will talk about and demo evaluating a RAG pipeline using Milvus and RAG metrics like context F1-score and answer correctness.
Types of Weaving loom machine & it's technologyldtexsolbl
Welcome to the presentation on the types of weaving loom machines, brought to you by LD Texsol, a leading manufacturer of electronic Jacquard machines. Weaving looms are pivotal in textile production, enabling the interlacing of warp and weft threads to create diverse fabrics. Our exploration begins with traditional handlooms, which have been in use since ancient times, preserving artisanal craftsmanship. We then move to frame and pit looms, simple yet effective tools for small-scale and traditional weaving.
Advancing to modern industrial applications, we discuss power looms, the backbone of high-speed textile manufacturing. These looms, integral to LD Texsol's product range, offer unmatched productivity and consistent quality, essential for large-scale apparel, home textiles, and technical fabrics. Rapier looms, another modern marvel, use rapier rods for versatile and rapid weaving of complex patterns.
Next, we explore air and water jet looms, known for their efficiency in lightweight fabric production. LD Texsol's state-of-the-art electronic Jacquard machines exemplify technological advancements, enabling intricate designs and patterns with precision control. Lastly, we examine dobby looms, ideal for medium-complexity patterns and versatile fabric production.
This presentation will deepen your understanding of weaving looms, their applications, and the innovations LD Texsol brings to the textile industry. Join us as we weave through the history, technology, and future of textile production. Visit our website www.ldtexsol.com for more information.
BLOCKCHAIN TECHNOLOGY - Advantages and DisadvantagesSAI KAILASH R
Explore the advantages and disadvantages of blockchain technology in this comprehensive SlideShare presentation. Blockchain, the backbone of cryptocurrencies like Bitcoin, is revolutionizing various industries by offering enhanced security, transparency, and efficiency. However, it also comes with challenges such as scalability issues and energy consumption. This presentation provides an in-depth analysis of the key benefits and drawbacks of blockchain, helping you understand its potential impact on the future of technology and business.
leewayhertz.com-Generative AI tech stack Frameworks infrastructure models and...alexjohnson7307
Generative AI stands apart from traditional AI systems by its ability to autonomously produce content such as images, text, music, and more. Unlike other AI approaches that rely on supervised learning from labeled datasets, generative AI employs techniques like neural networks and deep learning to generate entirely new data based on patterns and examples it has been trained on. This ability to create rather than just analyze data opens up a plethora of applications across industries, making it a cornerstone of innovation in today’s AI landscape.
2. CoinGecko Q3 2022 Cryptocurrency Report
DeFi Analysis
- Q3 2022 DeFi Overview
- Q3 2022 DeFi Multichain Market Share
- Q3 2022 DeFi Ecosystem Overview
- Q3 2022 Cross-chain Bridge Liquidity
24
1
Table of Contents
Analysts:
Market Landscape
- Q3 2022 Spot Market Overview
- Q3 2022 Crypto Dominance
- Q3 2022 Cryptocurrency Price Returns
- Q3 2022 Top 15 Stablecoins Overview
- Q3 2022 Total Crypto Market Cap & Bitcoin vs. S&P 500
- Q3 2022 Notable Events Timeline for Q2 2022
- Meme Moon
- Tornado Cash Sanctions
- Cardano Vasil Hard Fork and ATOM 2.0
3
Founders’ Note 2
Non-Fungible Tokens (NFTs)
- Q3 2022 NFT Trading Volume across Top 8 Chains
- Q3 2022 NFT Platform Trading Volumes
- Q3 2022 Top NFT Collections
- Launch of Sudoswap
- Sudoswap Triggers Debate over NFT Royalties
29
Bitcoin Analysis
- Q3 2022 Bitcoin Price vs. Trading Volume
- Q3 2022 Bitcoin Mining Hash Rate
- Bitcoin Energy Usage
- Q3 2022 Bitcoin vs. Major Asset Classes Price Returns
13
Win Win
Exchanges
- Q3 2022 Top 10 Cryptocurrency Exchanges
- Q3 2022 Top 10 Centralized Exchanges (CEX)
- Q3 2022 Top 10 Decentralized Exchanges (DEX)
- Q3 2022 Derivatives Exchanges –Perpetual Swaps Volume
- Q3 2022 Derivatives Exchanges – Bitcoin Perpetual Swaps Open Interest
- Q3 2022 Performance of GBTC and $BITO
36
Dillon Yap
Shaun Lee
Ethereum Analysis
- Q3 2022 Ethereum Price vs. Trading Volume
- Ethereum Roadmap Post-Merge
- Q3 2022 Ethereum Consensus Layer Staking
- State of Ethereum Post-Merge
- Ethereum Proof-of-Work (PoW) Forks
18
Zhong
Weng Dee
Benjamin Hor
3. CoinGecko Q3 2022 Cryptocurrency Report 2
Founders’ Note
Bobby Ong
COO
TM Lee
CEO
After the carnage during Q2 2022, Q3 was a relatively quiet quarter, with the market largely in consolidation mode despite mid-season bullish anticipation for the
Ethereum Merge, where total crypto market cap briefly touched $1.2T. However the rally didn’t last long, with an increasingly challenging global macro environment
wreaking havoc on financial asset classes.
BTC pretty much ended the quarter where it started, around the $19,000 level. ETH is ~25% up, though at peak it briefly exceeded $2,000, which was double the
~$1,000 price level it started the quarter at. Total market cap closed out the quarter at ~$986B. The Merge narrative did have positive ripple effects towards related
tokens, with LDO and RPL seeing significant gains this quarter. The Merge also triggered the launch of more liquid staking offerings from more providers such as
Coinbase, Liquid Collective and Frax.
Speaking of ETH, congratulations to the Ethereum Core Dev team and community for a successful Merge, which has been years in the making, and went off without a
hitch. It’s a monumental technical feat, and sets the foundation for the next phase of the network’s development.
Q3 was also a quarter of regulatory turbulence. The US OFAC sanction on Tornado Cash sent shockwaves
throughout the industry and reignited significant concerns and discussions over government censorship. Also
affected were centralized stablecoins, in particular USDC, which lost $8.8B or 16% of its market cap over the
quarter. There were also multiple crypto legislations making their way through Congress, while the CFTC
taking enforcement action against a DAO was also particularly noteworthy. One can only hope for more
regulatory clarity moving forward as policymakers and regulators continue to grapple with the industry.
The token value and TVL of DeFi projects largely mirrored that of the overall market, not much of a surprise
given that the majority of DeFi is still built on Ethereum. Meanwhile, overall NFT volumes continue to decline
from Q2, in line with trading volumes of tokens. However that has not stopped certain collections such as
Pudgy Penguins, ENS and y00ts rising to prominence, while the launch of Sudoswap and its AMM model for
NFTs garnered a lot of excitement and attention.
Considering global geopolitical tensions and macroeconomic turmoil, the near-term outlook for crypto looks
likely to remain challenging to say the least. At the same time, devs continue to build throughout the bear
market, efforts which will hopefully pay off as the market eventually recovers. For everyone else watching and
trading the market, hold on to your seats, it’s going to be a rocky road ahead!
5. CoinGecko Q3 2022 Cryptocurrency Report
$0B
$50B
$100B
$150B
$200B
$250B
$300B
$350B
$400B
$0.0T
$0.5T
$1.0T
$1.5T
$2.0T
$2.5T
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22
Total Volume Traded Total Market Cap Trendline (Total Market Cap)
4
Q3 2022 Spot Market Overview
Crypto market only inched slightly higher in Q3 2022 despite mid-August rally
+6.5%
Total Market Cap
Change in Q3 2022
Market Cap
Total crypto market cap seems to (so far)
have found a bottom when it hit a low of
$875B on 19th July. In Q3, total market cap
rallied up to ~$1.2T before falling again to
end the quarter at 6.5% or about ~$100B
higher than end-Q2.
Average Q3 trading volume stood at
~$90B, slightly lower than the ~$100B levels
of Q2.
Source: CoinGecko
Total Market Cap & Spot Trading Volume (Jan – Sept 2022)
Trading Volume
ALGO exited the Top 30, while ETC took
its place having had a boost after the
Merge, clinching 23rd place. Some notable
moves within the Top 30 include XRP
overtaking BUSD at #6 (+60%), MATIC
moving from #19 to #15 (+66%), and UNI
which jumped from #27 to #18 (+129%).
$986B
6. CoinGecko Q3 2022 Cryptocurrency Report 5
Q3 2022 Crypto Dominance
Relative crypto dominance between the top coins crabbed along
Crypto Dominance (Jan – Sept 2022)
In Q3, Bitcoin dominance fell slightly from
41.1% to 38%, while ETH climbed from
14.3% to 16.4%.
Source: CoinGecko
16.4%
2.1%
6.9%
0.2%
4.9%
1.1%
4.7%
0.9%
2.1%
0.2%
2.5%
0.8%
24.5%
0.4%
38.0%
3.1%
The Top 7 cryptocurrencies remained the
same, except for XRP overtaking BUSD at
#6.
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22
BTC ETH USDT USDC BNB XRP BUSD Others
Within the Top 30, top gainers in market
dominance were UNI, ETC, and ATOM
which increased their relative market share
from 0.25% to 0.49%, 0.22% to 0.39%, and
0.23% to 0.38% respectively.
7. CoinGecko Q3 2022 Cryptocurrency Report 6
Q3 2022 Cryptocurrencies Price Returns
A tiny bit of relief – except for P2E
As for the Top 5 exchange tokens, BNB and OKB made a good recovery,
while LEO continued to slide. FTT and CRO closed out the quarter pretty
much flat. This is in contrast to last quarter where LEO outperformed all other
Top 30 coins just by staying resilient.
Within the top 5 cryptocurrencies, all fared relatively well with each either
staying resilient or making a decent recovery from Q2. XRP outperformed,
recovering close to 50% in Q3, followed by BNB and ETH.
Source: CoinGecko
Play-To-Earn tokens saw no relief in Q3, taking double digit beatings on top
of the already brutal last quarter.
DeFi token prices surely lived up to the “DeFi is Dead” meme last quarter. By
contrast, the Top 5 DeFi tokens are the only category in green across the
board this quarter. LDO led the pack by a large margin, increasing by 3.5x in
Q3, likely benefiting from the Ethereum Merge narrative. It’s worth noting
however these gains are merely recoveries from the significant drop in the
previous quarter.
8. CoinGecko Q3 2022 Cryptocurrency Report
Market Cap
7
Q3 2022 Top 15 Stablecoins Overview
Muted quarter for stablecoins as OFAC sanctions wreak havoc on USDC
Top 15 Stablecoins Market Cap Breakdown (Jan – Sep 2022)
Source: CoinGecko
$68.0B
+$1.7B (+2.5%)
$47.3B
-$8.8B (-16.0%)
$20.9B
+$3.2B (+18.4%)
$6.4B
+$74.0M (+1.2%)
$1.4B
-$4.1M (-0.3%)
-3.1%
Top 15 Stablecoins Market
Cap Change in Q3 2022
The Top 5 stablecoins remained the same,
having no new entrants or changes in order. There
were notable changes in market cap within the
Top 5, with USDC dropping 16% or $9B after the
Tornado Cash sanction, and BUSD being the main
beneficiary of this, increasing by 18% or $3B.
USDT also saw a slight increase, possibly having
absorbed some of the selloff of USDC. Meanwhile
DAI and FRAX remained about the same in
terms of market cap from Q2.
Outside the Top 5, FEI dropped out of the Top 15,
while USDX broke in. Some notable changes
include TUSD (-27% or $0.32B), GUSD (+90% or
$0.15B), USTC (-20% or $0.16B), and USDN (-84%
or $0.65B)
The market cap of the Top 15 stablecoins remained
relatively similar, losing 3% or $4.7B in absolute
terms.
$0B
$20B
$40B
$60B
$80B
$100B
$120B
$140B
$160B
$180B
$200B
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22
USDT USDC BUSD DAI FRAX Others (6-15)
9. CoinGecko Q3 2022 Cryptocurrency Report
0
1,000
2,000
3,000
4,000
5,000
6,000
$0.0T
$0.5T
$1.0T
$1.5T
$2.0T
$2.5T
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22
Total Crypto Market Cap Bitcoin Market Cap S&P 500
Market Cap
8
Q3 2022 Total Crypto Market Cap & Bitcoin vs. S&P 500
Decoupling no where in sight as crypto continues to move in tandem with equities
S&P 500
Total Crypto Market Cap & Bitcoin vs. S&P 500 (Jan – Sept 2022)
The total crypto market cap correlation
with the S&P500 was 0.85 (high) in Q3
2022. This was a slight decrease from the
correlation coefficient of 0.92 in Q2 2022.
Source: CoinGecko, MarketWatch
The total crypto market cap also
continued moving in lockstep with
Bitcoin, with their correlation at 0.9. This is
however a decrease from a perfect
correlation of nearly 1 during Q2 2022.
Though Bitcoin was comparatively more
volatile, the S&P 500 fell by 5.2%, which
is 5x more than Bitcoin’s 1% drop in Q3
2022. This was also in contrast to the total
crypto market cap which rose by 6.5%.
10. CoinGecko Q3 2022 Cryptocurrency Report 9
Q3 2022 Notable Events Timeline
The ghost of Terra still haunts us
1 Jul 2 Aug
15 Sep
27 Sep
Cardano Vasil
hard fork
completed
ETH Merge
completed
16 Sep
Hodlnaut halted
withdrawals
Wintermute
hacked for
$160m
14 Jul
27 Sep
27 Sep
Nomad bridge
exploited for
$190m
Binance launched
auto-conversion of
USDC, USDP, TUSD
into BUSD
Celsius filed for
Chapter 11
bankruptcy
8 Jul
8 Aug
29 Sep
20 Sep
Ethereum PoW
hard fork went live
Nexo sued by
8 US states
FTX won bid
to buy Voyager
Dogechain
launch
13 Aug
Three Arrows Capital
filed for Chapter 15
bankruptcy
Sudoswap
launch
Gamestop NFT
marketplace
launch
12 Jul 21 Jul
Zipmex halted
withdrawals
Tornado Cash
sanctioned by
OFAC
Solana Slope
wallet
exploited
3 Aug
9 Aug
Interpol issued
red notice for
Do Kwon
27 Sep
11. CoinGecko Q3 2022 Cryptocurrency Report 10
Meme Moon
Stablecoin Memecoin
§ While Terraform Labs pivoted to a new chain, the abandoned Terra Classic
(LUNC) seem to have retained a following.
§ Its market cap is 10x that of the relaunched Terra Luna at the end of Q3
($2.1B vs $410M).
§ In Q3 the proposal to implement a burn tax of 1.2% per transaction was
approved, which resulted in a LUNC price increase. However, this did not
last long.
§ Currently, the burn rate averages around 200M LUNC / day.
§ There was a second round of airdrop of Terra 2.0 (LUNA) tokens to
holders which were mistakenly left out of the first round.
§ In the immediate aftermath, LUNA saw a spike in price but these gains
were erased with the issuance of an arrest warrant and Interpol red
notice for Do Kwon.
$-
$1.00
$2.00
$3.00
$4.00
$5.00
$6.00
$7.00
Jul-22 Aug-22 Sep-22 Oct-22
Q3 2022 Price Return
19%
Q3 2022 Price Return
168%
$-
$0.000100
$0.000200
$0.000300
$0.000400
$0.000500
$0.000600
Jul-22 Aug-22 Sep-22 Oct-22
Terra Classic (LUNC) Price (Q3 2022) Terra 2.0 (LUNA) Price (Q3 2022)
12. CoinGecko Q3 2022 Cryptocurrency Report 11
Tornado Cash Sanctions
OFAC sanctions wrecks TC, sends shockwaves across the industry
On Aug 8, US OFAC sanctioned Tornado Cash (TC),
adding its website and its contract addresses to the
SDN list for laundering proceeds from cybercrimes.
Immediately following the sanction, a list of TC
resources were banned, including their Github
repositories.
A few days later, Netherlands authorities arrested
Alexey Pertsev, a developer who worked on TC. He is
currently still being held in jail awaiting charges.
A month later, the Treasury Department updated its
FAQs, providing further clarity on what is permitted /
prohibited. Notably “interacting with open-source
code itself, in a way that does not involve a
prohibited transaction with Tornado Cash, is not
prohibited.”
A week after the FAQ update, Github unbanned TC’s
repositories.
The effect of Tornado Cash sanctions rippled across the entire crypto stack
Front-end
dApp /
Smart
Contract
Protocol
Node
Operator
§ DeFi projects with US entities or significant US presence such as dYdX, Aave, Balancer
and Uniswap blocked accounts associated with TC from their official front-end.
However alternative front-ends can actually be spun up fairly easily.
§ The DeFi protocols / smart contracts themselves remain uncensored, and any user
can still interact with them on-chain.
§ US-based centralized stablecoin issuer Circle also immediately froze the USDC
within the sanctioned addresses. However thus far the other centralized stables
USDT, BUSD etc have not followed suit to preemptively freeze their assets.
§ The impact of these sanctions did not stop with centralized stables. There were
significant discussion surrounding decentralized stables, particularly DAI where a
significant portion of its underlying collateral is in USDC, and there is a risk that it could
be sanctioned and the collateral frozen.
§ Worries surrounded US-based node operators who may be forced to comply with
current and future sanctions, particularly as Coinbase is currently the node operator
with the largest stake. CEO Brian Armstrong had to come out on Twitter to reaffirm
their commitment to not implementing censorship at the validator layer.
§ On the protocol layer, the main concerns surrounded mev-boost. As Flashbots is a US
entity they are forced to comply with the sanctions, but the team has proceeded to
open-source the code for other devs to fork.
§ Infura and Alchemy blocked TC’s access, igniting discussion on decentralized RPCs.
Infura later announced plans for a Decentralized Infrastructure Network.
13. CoinGecko Q3 2022 Cryptocurrency Report 12
Cardano Vasil Hard Fork and ATOM 2.0
Cardano reached a new milestone while ATOM unveils ATOM 2.0
CIP-31 and CIP-33 aims to improve transaction throughput and
increase concurrency by improving the output process for the Plutus
smart contract language.
CIP-32 aims to improve the development process by modifying the
way data is communicated between parties on the blockchain.
Diffusion pipelining is an upgrade for block propagation time, allowing
blocks to be transmitted without full validation. At the same time
making changes to the consensus layer to improve block propagation
across nodes.
Tokenomics of ATOM will be revamped, with the aim to reduce
inflation and reach a target emission rate of 300,000 ATOM per
month (0.1%). If the proposal passes, validators would be rewarded
with revenue generated under the new Interchain Security model. This
new model is meant to improve scalability and overall IBC connectivity.
A core feature of Interchain Security include Interchain Scheduler (IS)
which is a Maximal Extractable Value (MEV) system that allows
validators to reorder transactions within a block. This would allow The
Cosmos Hub to earn more revenue by selling blockspace.
The third tenet revolves around governance. The Interchain Allocator
(IA) feature will be a coordinated liquid staking service for the entire
IBC. At the same time, there is a push for a Governance Stack which is
essentially advocating for an assembly of DAOs across different
blockchains.
Cardano carried out its Vasil Hard
Fork on September 22, 2022.
ATOM released its whitepaper for
ATOM 2.0, “The Cosmos Hub,” on
September 26, 2022.
15. CoinGecko Q3 2022 Cryptocurrency Report
$19,563.77
$0B
$20B
$40B
$60B
$80B
$100B
$120B
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
$50,000
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22
Volume Price
14
Q3 2022 Bitcoin Price vs. Trading Volume
Krabby Patty
BTC Price Trading Vol
Bitcoin Price and Spot Trading Volume Apr ‘21 - Oct '21
Bitcoin Price and Spot Trading Volume (Jan– Sept 2022)
-1.0%
BTC Price Return in Q3 2022
BTC crabbed its way through Q3 of 2022.
After having hit its yearly low of $17,760 in
Q2, BTC has mainly stayed within the
$18k and $22k range during Q3.
BTC hit a quarterly high of $24,433 but
soon fell back to the $18k and $22k range,
where it currently remains.
Some noteworthy Q3 events affected BTC:
• Blackrock, the world’s largest asset
manager, launched a private BTC trust
• MicroStrategy entered an agreement
to sell $500 million in shares to fund
more purchases of BTC
• Increase of interest rates by the US
Fed saw investors exit risky assets for
USD and Treasury bonds
• Taro test version launched, allowing
Bitcoin developers to create assets on
the blockchain via Lightning Network
Q3 2022 Price Return
-1.0%
Source: CoinGecko
Q2 2022 Price Return
-55.8%
Q1 2022 Price Return
1.6%
16. CoinGecko Q3 2022 Cryptocurrency Report
140m
160m
180m
200m
220m
240m
260m
280m
300m
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22
15
Q3 2022 Bitcoin Mining Hash Rate
Bitcoin hash rate continues to trend upwards
Bitcoin's Total Hash Rate (Jan – Sept 2022)
Hash Rate TH/s
Bitcoin’s total hash rate continued to edge
upwards throughout Q3, even as the bear
market deepens.
Some operators have began selling some
of their BTC holdings in order to fund their
operations.
The market has claimed its first Bitcoin
mining victim. Compute North, a bitcoin
mining hosting provider filed for
bankruptcy in September. Meanwhile,
mining operator Hut 8 continued to stack
BTC, having accumulated over 8,000 BTC
from its operations.
Despite all these, overall hash rate is
still trending upwards (for now), even
hitting a new ATH on 11 September.
4.8%
Bitcoin’s hash rate increase
in Q3 2022
Q1 2022 Hash Rate
-3.5%
Q2 2022 Hash Rate
-1.7%
New All-Time-High (ATH)
281m TH/s
Source: Blockchain.com
Q3 2022 Hash Rate
4.8%
17. CoinGecko Q3 2022 Cryptocurrency Report
20%
50%
30%
Electricity Heating Transportation
16
Misplaced focus? Bitcoin’s energy use has been scrutinized since its inception
Global Energy
Consumption
Bitcoin Energy Usage
Source: CCAF, Climate Watch, IEA
104 TWh
Annualized electricity
use
53 MtCO2e
Annualized GHG
emissions
0.47%
global electricity
use
0.11%
Global GHG
emissions (2019)
• Methane capture*
• Incentivise
buildout of low
carbon energy
• Permissionless
platform for building
dApps with positive
impacts e.g. ReFi
Note: Methane (CH4), while less abundant in the atmosphere than carbon dioxide (CO2), is 84x more potent at trapping heat than CO2 over a 20-year period and is responsible for about 1/3 of current warming.
Using methane to power mining can limit short-term warming and buy society time to decarbonize and phase out fossil fuels.
Bitcoin mining has always been criticized for its
alleged outsized carbon emissions and climate change
impact. Looking at the figures however, it seems these
criticisms are arguably disproportionate and often
misleading.
low-carbon
38%
fossil fuels
62%
global electricity
use
Recently, Ethereum’s successful transition to
proof-of-stake and subsequent >99% reduction in
energy use has renewed attention and
comparisons to Bitcoin.
However, Bitcoin and Ethereum have
fundamentally different use-cases. Both
technologies have unique features that could be
leveraged to create positive externalities in their
own ways.
18. CoinGecko Q3 2022 Cryptocurrency Report 17
USD Reigns Supreme!
Bitcoin vs. Major Asset Classes in Q3 2022
While Q3 was rather choppy for Bitcoin, it managed to
outperform other asset classes outside of the US
Dollar Index (DXY). However from a YTD perspective,
it still experienced the largest loss amongst all other
asset classes.
Q3 2022 Bitcoin vs. Major Asset Classes Price Returns
Price
Return
Bitcoin dipped hand-in-hand with US equities, but
largely managed to recover compared to the equities
market.
Fiat currencies have been performing poorly against
the US Dollar. The EURO and GBP have nearly hit
parity against the USD. Meanwhile, central banks
across the world have mimicked the Federal Reserve
in raising interest rates to stem the outflow while also
combating inflation.
Source: Yahoo Finance
-30%
-20%
-10%
0%
10%
20%
30%
Jul-22 Aug-22 Sep-22
BTC Crude Oil Gold TLT DXY YEN
20. CoinGecko Q3 2022 Cryptocurrency Report 19
Q3 2022 Ethereum Price vs. Trading Volume
The Merge – a successful non-event
Source: CoinGecko
+25.7%
ETH Price Return in Q3 2022
Ethereum Price and Spot Trading Volume (Jan – Sep 2022)
ETH finally broke away on a rally in early
Q3 but failed to break the $2,000
resistance, peaking at $1,982 in mid-
August before tumbling back down again.
ETH price started climbing again in late
August, just 2 weeks before the Merge.
Despite being touted as the most bullish
event ever for Ethereum, the upswing was
brief.
A combination of high CPI, anticipation for
an aggressive FOMC hike, and traders
moving in to “sell-the-news” mode meant
the selloff started even days before the
Merge.
$0B
$10B
$20B
$30B
$40B
$50B
$60B
$70B
$80B
$90B
$100B
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
$3,500
$4,000
$4,500
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22
Q1 2022 Price Return
–11%
Q2 2022 Price Return
–67%
ETH Price Trading Vol
Q3 2022 Price Return
+26%
The Merge
In the end, The Merge hypetrain ran into a
headwind of bearish macroeconomic
conditions, with the general consensus of
it being a “successful non-event”.
$3,686
$1,329
21. CoinGecko Q3 2022 Cryptocurrency Report 20
Ethereum Roadmap Post-Merge
After The Merge, Ethereum is now 55% complete according to Vitalik
Source: https://ethereum.org/
Beacon Chain
Berlin
London
Altair
Arrow Glacier
The Great Renaming
Ropsten Testnet Merge
Gary Glacier
Sepolia Testnet Merge
Goerli Testnet Merge
Bellatrix
01 Dec 2020
15 Apr 2021
05 Aug 2021
27 Oct 2021
09 Dec 2021
24 Jan 2022
08 Jun 2022
30 Jun 2022
06 Jul 2022
10 Aug 2022
06 Sep 2022
Pre-Merge
The Merge
15 Sep 2022
The Surge
Ethereum’s scalability will be greatly
improved by sharding, boosting TPS from
15-40 to 100,000
Post-Merge
The Verge
Storage is optimized through Verkle Trees,
making validation more scalable, faster
and easier to set-up, allowing more
validators to join in
The Purge
Excess historical date to be purged to
reduce network congestion and hard drive
space requirements for validators
The Splurge
Miscellaneous updates and upgrades, “the
fun stuff”
Ethereum 2025
22. CoinGecko Q3 2022 Cryptocurrency Report
0M
2M
4M
6M
8M
10M
12M
14M
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22
Lido Coinbase Kraken Binance
Staked.us Bitcoin Suisse Stakefish Figment
Rocket Pool Huobi Abyss Finance Stakewise
Others
21
Q3 2022 Ethereum Consensus Layer Staking
Staked ETH plateauing after spike in Q1 2022
Closer to and after the Merge, there has
been more liquid staking offerings that
have come to market from the likes of
Coinbase, Cloud Collective and Frax.
Total staked ETH surged past 14k ETH
just after the Merge, representing 11.6% of
total ETH supply.
Lido is the leader in ETH staking with
30% of all staked ETH, though this is
distributed between 30 node operators.
It was also the one that gained the most
staked ETH in Q3, followed by Coinbase,
Figment, Binance and Kraken.
Source: Glassnode
Total Staked ETH in Validators (Jan – Sep 2022)
Q1 2022
Total Staked ETH +25%
11,028,546
12,994,347
8,852,770
Q2 2022
Total Staked ETH +17.8%
Q3 2022
Total Staked ETH +8.24%
14,054,455
13.8%
8.3% 6.6%
2.9%
2.0%
2.1%
28.8%
30.2%
Staked ETH
23. CoinGecko Q3 2022 Cryptocurrency Report 22
State of Ethereum Post-Merge
Ethereum’s net token emissions have slowed significantly post-Merge
Ethereum Supply (Jan – Sep 2022)
118,000,000
118,500,000
119,000,000
119,500,000
120,000,000
120,500,000
121,000,000
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22
Ethereum Number of On-Chain Transactions & Average Daily Gas Price (Jan – Sep 2022)
-
100
200
300
400
500
700,000
900,000
1,100,000
1,300,000
1,500,000
1,700,000
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22
Average Gas Price (Gwei) # of On-Chain Transactions
Source: Etherscan
Merge
-95%
Reduction in Average Daily
Net Emissions Post-Merge
Since the Merge, Ethereum’s net token
emissions have slowed significantly, giving
credence to earlier anticipation of ”triple-
halving”.
Average daily net emissions have
decreased from +9,587ETH since the
start of 2022 to +560ETH post-Merge.
While the Merge was not meant to
improve scalability, it’s interesting that
average gas price has stayed low (~10 –
20 gwei) despite a small spike in on-chain
transactions post-Merge.
Ethereum block times have slightly
improved from ~13 – 13.5 secs to ~12.1
secs post-Merge, though this is likely not
noticeable by normal users.
ETH Supply
Gas Price
(Gwei)
# of On-Chain
Transactions
24. CoinGecko Q3 2022 Cryptocurrency Report 23
Ethereum Proof-of-Work (PoW) Forks
Despite earlier hype, ETH PoW forks have not gained much traction in price or hash power
-
$ 10
$ 20
$ 30
$ 40
$ 50
$ 60
ETC ETHW ETHF
Price of ETH PoW Forks (September 2022)
1-Sep 1-Oct
16-Sep 24-Sep
9-Sep 13-Sep 20-Sep 28-Sep
5-Sep
$27.59
$11.85
$1.95
Source: CoinGecko; 2Miners; Etherscan; state.etherfair.org
Price
~208TH/s
Combined hashrate on all
ETH PoW Forks
Prices of ETHW and ETHF have fallen by
~80% and ~98% respectively since launch,
while ETC is ~40% down compared to its
price at the start of the year.
At present, the hashrate on these forks
are hovering ~150TH/s (ETC), ~50TH/s
(ETHW) and ~8TH/s (ETHF) respectively.
For ETC, this is already a 70x increase
from its hashrate at the start of 2022.
Another PoW chain, Ravencoin has saw its
hashrate increase from 3 to 15TH/s
Just prior to the Merge, ETH hashrate was
870TH/s. Post-Merge, only ~170TH/s
seem to have migrated to other chains,
indicating ~700TH/s in hashpower may
have been shut down.
26. CoinGecko Q3 2022 Cryptocurrency Report
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
5.5%
6.0%
6.5%
7.0%
$20B
$40B
$60B
$80B
$100B
$120B
$140B
$160B
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22
DeFi MarketCap DeFi Share of Market (DeFi/Global Market Cap)
Q3 2022
$45B
Q2 2022
$36B
25
Q3 2022 DeFi Overview
Although market moved sideways, the DeFi sector bucked the trend
Late Q1 2022 Recovery Collapse of Terra
The resurgence of DeFi’s market share was
largely due to the narrative surrounding
the Merge.
Notable, there was an uptick in trading
volume and volatility for governance
tokens of liquid staking protocols such as
Lido (LDO) and Rocket Pool (RPL).
Despite the overall crypto market showing
no significant signs of improvement,
DeFi market cap actually increased
significantly in Q3 from $36B to $45B.
However this is still ~70% down from the
start of the year.
Market Cap % of Market
+25.6%
Increase in DeFi Market Cap
compared to 1st July 2022
Source: CoinGecko
DeFi Market Cap and DeFi Share of Overall Market (Jan – Sep 2022)
The increase in market cap mostly came
from DeFi’s blue-chip protocols such as
Uniswap and Aave.
27. CoinGecko Q3 2022 Cryptocurrency Report
56% 55% 52% 51%
55% 59% 57% 58% 58%
3% 3%
3% 3%
5%
8% 9% 9% 10%
7% 7%
6% 7%
8%
9% 9% 9% 9%
8% 8%
10% 10%
9%
10% 10% 9% 9%
6% 6%
6% 6%
5%
4% 4% 3% 3%
3% 3%
2% 2%
3%
3% 3%
4%
7% 7% 11% 13%
7%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22
Ethereum Tron BSC Others Avalanche Polygon
Solana Arbitrum Optimism Cronos Fantom Terra Classic
26
Q3 2022 DeFi Multichain Market Share
As Terra imploded, old and new contenders arise to take its spot.
$154B $146B $154B $100B
While Ethereum’s TVL has shrunk by 67%
since the start of the 2022, it is still the
most dominant network in Q3,
controlling up to 58% of multi-chain TVL.
However, it’s dominance has weakened
slightly compared to Q2, as more
altchains continue to pop up.
Tron’s TVL increased by 40% to $5.5B,
narrowly surpassing BSC to become the
2nd most dominant network, thanks to
the high incentives offered by its USDD
algo-stablecoin.
Multi-chain Total Value Locked (TVL) Breakdown (Jan – Sep 2022)
$58B $56B
-13.8%
Decrease in Multi-chain DeFi TVL
since 1st July 2022
Source: DefiLlama
*Monthly TVL is calculated by taking the average TVL on daily basis for each month.
*After the collapse of Terra in May 2022, the original Terra network was renamed as Terra Classic.
Market
Share $140B $65B $62B
Unsurprisingly, TVL on Solana continues
to shrink, dropping by 15% in Q3 due to
the multitude of exploits that occurred
on the network such as Slope wallet,
Nirvana and Crema Finance.
28. CoinGecko Q3 2022 Cryptocurrency Report 27
Q3 2022 DeFi Ecosystem Overview
Liquid staking and DEXes made strong gains in Q3
Asset
Management
$0.30B
Fixed Interest
$0.07B
DeFi enjoyed a decent rebound in Q3 2022, as most sectors managed to stem
the bleeding and then some. Overall, the DeFi market cap grew by ~31%
compared to the previous quarter. Even though Ethereum has plunged 33%
to $1,330 from its quarterly high in mid-August, it is still up by 26% compared
to Q2, aligning with DeFi’s rise in market cap.
Besides maintaining its status as the largest constituent of DeFi, DEXs
notched a significant increase in market share, rising 36.8% to $10.9B.
Notably, the liquid staking sector nearly tripled its market cap to $1.54B in
Q3, largely driven by the Merge narrative. Lido, the market cap leader in that
category, rose 264% to $1.60 within the same period.
Although the fixed interest sector grew by an impressive 90%, largely due to
the BarnBridge V2 launch, it is also the smallest, representing only 0.3% of
the overall DeFi market.
Market Cap of Each DeFi Category (Q3 2022)
Total DeFi Market Capitalization
as of 1st October 2022*
$24.5B
(+31.3%)
Source: CoinGecko
* Categorical market cap includes only governance and utility tokens (excluding stablecoins and wrapped tokens)
Total DeFi Market Cap 31.3%
44.5% Decentralized Exchanges 36.8%
18.5% Oracles 18.9%
15.8% Lending 16.7%
7.5% Derivatives 25.4%
6.3% Liquid Staking 271.7%
4.2% Yield Aggregators 18.7%
1.8% Insurance 12.5%
1.2% Asset Management -63.3%
0.3% Fixed Interest 89.7%
Weightage
(By 2022 Q3 Market Cap Share)
Sector QoQ %Change
29. CoinGecko Q3 2022 Cryptocurrency Report
$2.3B
$4.8B
28
Q3 2022 Cross-chain Bridge Liquidity
WBTC, JustCryptos and Multichain storm way ahead of the competition
Interestingly, the JustCryptos bridge has the 2nd highest TVL of $2.3B,
ahead of popular EVM bridges such as Multichain and Stargate. Liquidity
on the Tron-based bridge has grown by 196% in Q3 2022. Yet, it is no
surprise that more users are bridging over to Tron, thanks to the
ecosystem offering high yields on USDD.
Even though Stargate offers lower yields to liquidity providers compared
to Celer and Synapse, they seem to be way ahead of the pack in
liquidity, having more than 3x the TVL of cBridge. However, it still a far
cry away from its ATH TVL of $4.2B during its initial release.
Surprisingly, Terra Bridge still has some remnants of liquidity, even
though it’s reduced by 90% from $1.47B earlier in April 2022.
In Q3 2022, exploits on bridges are still a reality. As the latest victim, the
Nomad Bridge was hit for $190M, making it the 5th largest exploit in the
space. As it stands, 4 of the top 5 exploits currently involve bridges,
and it is unlikely that it will change anytime soon.
Top 12 Bridges with Highest Liquidity (as of 1st
October 2022)
Source: DeFiLlama
$1.8B $489M
$309M
$437M
$238M
$272M
$211M
$146M $106M
$150M
WBTC JustCryptos
Multichain
Poly
Network
Portal
Stargate
Orbit
Bridge hBTC
Synapse
Terra
Bridge
Celer
cBridge
Thorchain
As of 1st October, the top 12 bridges command over $11.26B worth of
liquidity. However, that’s a 57% plunge compared to the start of the year.
31. CoinGecko Q3 2022 Cryptocurrency Report 30
Q3 2022 NFT Trading Volume across Top 8 Chains
NFT winter has arrived
Top 8 Chains for NFT Trading Volume (Jan – Sep 2022)
$5.78B
$4.01B
$2.86B
$4.17B
$3.28B
$0.92B
$0.71B $0.65B $0.48B
$0.29B
$0.24B
$0.20B
$0.37B
$0.34B
$0.12B
$0.07B $0.07B
$0.13B
$0B
$1B
$2B
$3B
$4B
$5B
$6B
$7B
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22
Ethereum Solana Flow BNB ImmutableX Polygon WAX Panini
$13.9B $9.6B $2.3B
Since then, trading volume has tumbled
83% from the start of the year. Recent
months have logged numbers even lower
than July 2021, right before NFT summer.
It seemed like NFT was slated for explosive
growth in 2022, being named “word of the
year” and coming off a record-high volume
in January this year. But as it turns out, that
was the peak.
76.4%
Trading volume decrease
from Q2 2022 to Q3 2022
Most notably, Ronin and Avalanche have
fallen out of the Top 8, replaced by
ImmutableX and Panini. Recent sports
mania has somewhat spilled over to the
NFT space, propelling Flow in to the Top 3.
Solana, fueled by y00ts and DeGods,
managed to double its September volume
while all its competitors faltered.
Source: FootPrint Analytics; Cryptoslam
32. CoinGecko Q3 2022 Cryptocurrency Report
$5.42B
$3.82B
$2.64B
$3.62B
$2.71B
$0.73B $0.54B $0.52B $0.36B
$0.29B
$0.24B
$0.20B
$0.35B
$0.31B
$0.12B
$0.07B $0.07B
$0.13B
$0.26B
$0.13B
$0.16B
$0.38B
$0.36B
$0.14B
$0.22B
$0B
$1B
$2B
$3B
$4B
$5B
$6B
$7B
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22
OpenSea MagicEden LooksRare X2Y2 CryptoPunks
31
Q3 2022 NFT Platform Trading Volumes
MagicEden gains ground on OpenSea dominance in a struggling market
Top 5 NFT Marketplaces (Jan – Sep 2022)
Volume $13.5B $9.2B $2.1B
Latest numbers in Sep 2022 show that as
much as ~85% of X2Y2’s volume
potentially came from wash-trading,
which would have given it the edge over
OpenSea in the leaderboard. The same
goes for LooksRare which despite its
already meager volume, is still apparently
driven by ~87% wash trades.
The NFT market took a heavy hit in the past
quarter, registering a -71% fall in volume.
-77.4%
Trading volume decrease
from Q2 2022 to Q3 2022
MagicEden was the only one that saw
growth in September, doubling its MoM
volume and dominance while the rest of
its competitors continued to slip. With its
recent foray into Ethereum, as well as the
headline-grabbing launch of y00ts (see
Slide 33), MagicEden (22%) has gained
ground on OpenSea’s (60%) dominance,
but it remains to be seen if it can sustain its
current momentum.
Source: FootPrint Analytics
*OpenSea volumes incudes Ethereum, Polygon and Solana
**Wash trades on LooksRare and X2Y2 are excluded
33. CoinGecko Q3 2022 Cryptocurrency Report
Pudgy Penguins
Q3 2022 Top NFT Collections
As the Pengus make their comeback, Solana NFTs continue to bring the heat
32
Top 10 Collections on Ethereum Top 10 Collections on Solana
Ethereum Name Service
DigiDaigaku
Bored Ape Yacht Club
Pudgy Penguins once again took the NFT space by
storm as the rarest Pengu in the collection, a unique
left-facing Pudgy, was sold for 400 ETH (~$630k).
Besides that, the team had also announced a new
advisory board as well as the creation of the Pudgy
Toy line.
Besides that, DigiDaigaku also became one of the
most popular collections in Q3 2022, championing
the concept of Free-to-Own (F2O). Released during a
stealth mint in August, the collection of 2022 NFTs
reached an ATH of 21 ETH (~$31k) after its creators,
Limit Break, raised $200M in funding.
Over on Solana, y00ts and DeGods attracted all the
attention. Since y00ts was first announced, the project
has generated plenty of buzz and attention to the
Solana NFT scene. The y00ts scholarship, which is
basically similar to a whitelist, allowed 15,000 people
to mint their first y00ts t00bs, including the likes of
Wayne Rooney and Lil Baby.
RENGA
Azuki
Art Blocks Curated
RTFKT Clone X Forging SZN 1
Otherdeed for Otherside
Mutant Ape Yacht Club
y00ts
DeGods
ABC
Galactic Geckos
Cets on Creck
Shadowy Super Coder DAO
Primates
Blocksmith Labs
Trippin Ape Tribe
Aurory
With over 2.3 million unique domains registered,
ENS climbed quickly to the top ahead of the Merge, as
well as the attention surrounding the ‘999 club’ and
the ‘10k club’ where you can only gain access if you
have the ENS with the required digits.
34. CoinGecko Q3 2022 Cryptocurrency Report
Launch of Sudoswap
Sudoswap surges ahead of competition with new, royalty-free NFT AMM
33
Source: Dune (@0xRob)
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
$0.0M
$0.5M
$1.0M
$1.5M
$2.0M
$2.5M
$3.0M
$3.5M
Jul-22 Jul-22 Jul-22 Jul-22 Aug-22 Aug-22 Aug-22 Aug-22 Sep-22 Sep-22 Sep-22 Sep-22 Sep-22
Trading Vol. Daily Users
Total Volume = $1.4M
DAU = 83
Total Volume = $31.1M (+2,041%)
DAU = 1,101 (+1,231%)
Total Volume = $21.8M (-30%)
DAU = 547 (-50%)
Within just a month of its launch, the
SudoSwap-mania caught on fire and
exploded to >$30M in trading volume in
August – a whopping 20x MoM increase.
SudoSwap, like others, was eventually
buffeted by the NFT downturn trend in
September. Yet, its rising popularity
among traders is undeniable, even
overtaking powerhouses like
CryptoPunks and LooksRare in monthly
volume for both August and September.
A large part of this is due to how
sudoAMM is designed to facilitate liquidity
exchange, and also its cost efficiency in
being royalty-free.
Sudoswap Trading Volume and Daily Active Users (Jul – Sep 22)
$362M
$129M
$69M
$22M
$21M
1.
2.
3.
4.
5.
Total Volume (Sep)
Sudoswap introduces old DeFi concepts
such as LPs and bonding curves to NFT
trading – think Uniswap but for JPEGs.
To learn more about how SudoSwap works,
check out our introductory article here.
35. CoinGecko Q3 2022 Cryptocurrency Report
Sudoswap Triggers Debate over NFT Royalties
NFT marketplaces chooses sides
34
Sudoswap’s rise ignited heated discussions about the role of royalty in Web3 and NFTs, with one party (Team Creator) clamoring over this supposed step-
back, and another (Team Trader) lauding this innovation.
Team Trader
Team Creator
X2Y2 also joined in the royalty fray, announcing a new feature, allowing buyers to customize the amount of royalty paid.
MagicEden on the other hand decided to side with Team Creator, releasing Metashield, a royalty enforcement that helps creators identify NFTs that
bypass royalties. The creators will be free to “shield” the NFTs in question as they see fit, including blurring the image, changing the metadata or flagging
the NFT.
The NFT-royalty debate is still ongoing with no end in sight yet, but at the end of the day crypto is ultimately a capitalistic space where everything
eventually comes down to where the most money can be made. Unless it becomes embedded as in the case of MagicEden’s Metashield, it is likely that
the broader market will pivot to whichever platform offers the best cost efficiency, while only the hardcore fans will still pay royalties to support their
favorite creators.
NFT Royalty Spectrum
36. CoinGecko Q3 2022 Cryptocurrency Report
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38. CoinGecko Q3 2022 Cryptocurrency Report 37
Q3 2022 Top 10 Cryptocurrency Exchanges
Spot trading volumes are starting to recover in-time for Uptober?
$1.3T
Top-10 Cryptocurrency Exchange (CEX + DEX) Trading Volume (Jan – Sep 2022)
CEXes have continued to increase their
dominance. The CEX:DEX ratio has
increased to 95% in Q3 2022 from 89% in
Q2 2022.
Spot trading volumes have been
decimated, briefly dipping even below
$1T in July and August before recovering in
September.
In line with a global slowdown of the
economy and financial markets, traders
and investors alike have naturally de-
risked from crypto assets. DEXs have
suffered more than CEXes as most
crypto degens left the market.
-20.8%
Top 10 (DEX + CEX) Total Trading
Volume Decline from Q2 2022
to Q3 2022
$1.3T $0.9T $0.9T $0.9T $1.0T
Trading
Volume
Source: CoinGecko
Total Trading Volume ($ Trillion)
$1.5T $1.2T $1.3T
$1.31T
$1.02T
$1.20T $1.18T $1.21T
$0.86T $0.85T $0.84T
$0.94T
$0.18T
$0.15T
$0.13T
$0.09T
$0.11T
$0.08T $0.07T $0.06T
$0.05T
$0.0T
$0.2T
$0.4T
$0.6T
$0.8T
$1.0T
$1.2T
$1.4T
$1.6T
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22
CEX DEX
39. CoinGecko Q3 2022 Cryptocurrency Report 38
Q3 2022 Top 10 Centralized Exchanges (CEX)
CEXs are seeing some recovery towards the end of September
Total Trading Volume ($ Trillion)
Top-10 centralized exchanges recorded a
total of $2.62T in spot trading volume in
Q3 2022, dropping below the $3T mark for
the first time in a quarter since the bull
market began.
-24.0%
Top 10 CEX Total Trading
Volume Decline from Q2 2022
to Q3 2022
BitMart is a dark horse, having grown
from 2% at the start of the year and
reaching 9% this quarter. This is
indicative of an overall trend where newer
and more retail-oriented exchanges like
Crypto.com have suffered significant
losses. While older exchanges favoured by
OG degens are still retaining traction.
Binance has finally captured more than
50% of the market. One reason could be
the imposition of zero-fee Bitcoin spot
trading across all 13 trading pairs on their
platform.
Source: CoinGecko
$1.3T
Top 10 CEX Trading Volume Breakdown (Jan – Sep 2022)
Market
Share
39% 41% 43% 43%
48% 47% 47%
51% 52%
2% 2%
4% 5%
7% 7% 7%
8% 9%
8%
10%
10% 8%
6% 9% 9%
8% 8%
14%
12%
11% 10%
7% 5% 7%
6%
7%
9% 9%
8%
6% 6% 7% 5%
7%
7%
5% 5% 5%
4%
7% 8% 8%
7%
6%
3% 4% 4%
6%
5% 5% 5%
4%
4%
6% 6% 5% 6%
6% 5% 5%
4% 3%
5% 5% 4% 5%
5% 6% 6% 4% 3%
8% 7% 7% 7% 3% 2% 2% 2% 2%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22
Binance BitMart UpBit OKX Coinbase FTX Gate.io KuCoin Huobi Crypto.com
$1.0T $1.2T $1.2T $1.2T $0.9T $0.8T $0.8T $0.9T
40. CoinGecko Q3 2022 Cryptocurrency Report 39
Q3 2022 Top 10 Decentralized Exchanges (DEX)
DEXs, meanwhile, are just spiralling down
It seems that the play for market share is
favoring expansionary growth across
different chains. Single-chain DEXes such
as Pancakeswap are slowly losing market
share, dropping by 60.1% over the quarter.
Top 10 DEXs recorded a total of $179.0
billion in spot trading volume in Q3
2022, giving a monthly average of $60B.
Compare this with Q2 2022 which saw a
total of $287B and a monthly average of
$95B.
-37.5%
Top 10 DEXs Total Trading
Volume Decline from Q2 2022 to
Q3 2022
Combined across all chains, Uniswap is still
the dominant DEX with ~64% market
share. Dodo, however, has been steadily
growing QoQ as it starts capitalizing on its
expansion to other chains.
Source: CoinGecko
Top 10 DEX Trading Volume Breakdown (Jan – Sep 2022)
Market
Share
Total Trading Volume ($ Billion)
$178B $148B $129B $93B $115B $78B $68B $60B $50B
56%
67%
61%
54% 54%
60%
68% 65% 64%
3%
8%
7%
7% 3%
4%
7% 9% 10%
12%
9%
10%
16%
12%
9%
7% 9% 8%
7%
3%
3% 5%
13%
14%
6% 5% 8%
2% 2%
3% 3% 3% 3%
15%
5%
5%
8% 8%
2% 2% 3% 2%
4% 6%
8% 3%
3% 3% 4% 3%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22
Uniswap Dodo Pancakeswap v2 Curve Balancer Sushi Serum THORChain Quickswap Jupiter
41. CoinGecko Q3 2022 Cryptocurrency Report 40
Q3 2022 Derivatives Exchanges – Perpetual Swaps Volume
Monthly average has dropped below the $3T mark for the first time in the year
Trading volume for all perpetuals across
the Top 10 derivatives exchanges
decreased by $750 billion in Q3 2022.
Relative market share between exchanges
and their market positions remained
largely the same throughout the first
three quarters of the year.
The only ones that have managed to
increase their market share are Bybit and
OKX. Nonetheless, Binance still remains
the top dog, controlling more than half of
the market (54%) trading volume.
Source: CoinGecko
-8.0%
Top 10 Perpetual Swap
Trading Volume Decline in
Q3 2022
Aggregate Monthly Perpetual Trading Volume Dominance (Jan – Sep 2022)
Market
Share
Total Trading Volume ($ Trillion)
53% 52% 51% 54% 53% 54% 53% 55% 54%
17% 18% 19% 15% 15% 15% 17% 16% 16%
7% 7% 8% 9% 10% 11% 11% 10% 11%
10% 10% 9% 9% 10% 9% 8% 8% 8%
3% 3% 3% 4% 4% 4% 4% 4% 4%
3% 3% 3% 3% 3% 3% 3% 2% 2%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22
Binance OKX Bybit FTX KuCoin Gate.io BitMart Huobi dYdX BitMex
$3.4T $3.0T $3.3T $3.0T $3.3T $3.1T $2.9T $2.9T $2.8T
42. CoinGecko Q3 2022 Cryptocurrency Report 41
Q3 2022 Derivatives Exchanges – Bitcoin Perpetual Swaps Open Interest
Gate.io is gaining market share at the expense of Binance
Open interest (OI) across the top-10
derivatives exchanges recorded a total of
$2.2 trillion in Q3 2022. A slight decline in
OI is reflective of the overall bear market
where trading interest has dropped.
Source: CoinGecko
-2.7%
Top 10 Bitcoin Perpetual Swap
Open Interest Decline in
Q3 2022
Not much has changed throughout the
quarter, except for Gate.io whose OI has
grown by 19.4% over the quarter. Binance,
meanwhile has seen some significant
losses, and lost 7.6% of its share of OI in
Q3.
Aggregate Monthly Bitcoin Perpetual Open Interest Market Share (Jan – Sep 2022)
Market
Share
Total Open Interest ($ Billion)
$900B $736B $887B $945B $737B $620B $683B $820B $740B
36% 37% 36% 35% 33% 31% 30% 31% 30%
22% 21%
19%
17% 19% 20% 20% 20% 20%
10% 9% 13%
12% 13% 14% 17% 16% 16%
11% 11% 10%
11%
11% 12% 12% 12% 12%
6% 7% 8%
10%
10% 10% 9% 9% 9%
5% 5% 5% 5% 5% 5% 6% 7% 8%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22
Binance FTX Gate.io Bybit OKX Deribit KuCoin Bitfinex Huobi BitMex
43. CoinGecko Q3 2022 Cryptocurrency Report
-5%
-3%
-1%
1%
3%
5%
-40%
-20%
0%
20%
40%
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22
GBTC BITO
$0.0B
$1.0B
$2.0B
$3.0B
$4.0B
$5.0B
$0B
$10B
$20B
$30B
$40B
Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22
GBTC BITO
42
Q3 2022 Performance of GBTC and $BITO
GBTC ends the quarter with ATH discount of 36%, with no ETF in sight still
Source: YCharts
Bitcoin Price and Spot Trading Volume Apr ‘21 - Oct '21
Total AUM of GBTC & BITO (Jan – Sep 2022)
GBTC & BITO Premium/Discount to Net Asset Value (NAV) (Jan – Sep 2022)
$30.1B
$1.2B $1.3B
$29.8B
$0.6B
$12.4B $12.4B
$0.6B
+0.71% (Q3 2022)
-0.16% (Q3 2022)
GBTC Deviation from NAV (Q3 2022)
Average = 32.25% Discount
Lowest Discount = 28.51%
Highest Discount = 36.37%
BITO Deviation from NAV (Q3 2022)
Average = 0.02% Premium
Highest Premium = 0.25%
Highest Discount = 0.23%
0.02% 0.06% 0.10% 0.05%
-21.3%
-25.5%
-31.4%
-36.2%
Since the SEC’s rejection of GBTC’s ETF
application, the trust has seen a steady
widening of its discount to NAV,
particularly in September which saw it end
the quarter at an ATH discount of 36%.
Despite GBTC’s legal threats, the SEC is
unlikely to change their tune anytime soon.
SEC has repeatedly cited “fake Bitcoin
trades” as the reason for not approving a
spot Bitcoin ETF, a problem that’s
apparently still rampant today.
Just like BTC, the total AUM of GBTC and
BITO ended the quarter pretty much
where they started. Still, these are
figures way down from the beginning of
the year – -58.5% and -53.1% YTD
decrease in AUM respectively. For GBTC,
the nightmare doesn’t stop here…
Meanwhile, BITO has been able to keep
the value of its AUM in-line with the
NAV. In fact, BITO even managed to
capture a bit more market share while
maintaining an AUM of >$600M, thanks to
competitor SPBC’s misfortune of a ~50%
drop in AUM in Q3.
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