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decentralized app store, Dapp Radaris back with another incredible industry report within its pages that provides an in-depth analysis of the broader crypto market as it happened in Q3 2022.
through perfect research Publication, DappRadar identified a general upward trend. But the total market capitalization is still just under the elusive $1 trillion. Nonetheless, cryptocurrencies have responded favorably to the ongoing bear market, with the general economy still plagued by high interest rates and a looming recession, and overall cryptocurrency market capitalization dropping since July. 8.5% increase.
Contrary to lesser-known media, NFTs continue to perform well, recording 21.9 million transactions in Q3. But digging deeper into the metrics reveals that Yuga Labs properties account for his 46.21% of his total NFT market.
Towards the end of Q3, the long-awaited Ethereum merger rocked the crypto tree. At first, 15.75% price drop For ETH tokens that have not yet recovered. Meanwhile, his forked counterpart, his ETHW, has shrunk by a whopping 75% as the owner seeks to sell the airdropped token.
A more significant impact was seen on the layer 2 side of operations, with a 36% decrease in layer 2 transactions and a 27% decrease in unique active wallets (UAW) since the merge. Nonetheless, both Arbitrum and Optimism have bucked the trend, with significant gains in part due to OpenSea adopting two of his chains.
Following the cataclysmic events that unfolded on the Terra chain, DeFi has begun to recover, with total locked numbers up slightly by 2.9% from the last numbers released in Q2. numerical value healthy $69 billionmeanwhile, the Ethereum chain holds the largest share in the DeFi sector with a 69.9% dominance.
Overall, the industry has seen healthy growth since DappRadar’s second quarter report and is in a strong position to enter the fourth quarter, with governments in both Europe and the US taking the market seriously. It highlights the maturity of the cryptocurrency industry.
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*All investment/financial opinions expressed by NFT Plaza are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
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