During Binance Blockchain Week, a team from CoinMarketCap specializing in market data analysis stepped in to present the latest key elements to analyze the situation of the cryptocurrency market.
Crypto Market Cap
Taking sideways market movements into account, CoinMarketCap saw the total cryptocurrency market cap drop 9.98% to less than $1 trillion in August alone. This decline is partly explained by macroeconomic factors and difficult global economic conditions.
However, some sectors are still experiencing strong growth.
The DeFi, smart contracts and collectibles/NFT sectors saw the strongest growth in dollar market capitalization in August. In addition, the gambling and fantoken sectors saw the highest percentage growth in market capitalization with 404% and 262% growth respectively.
For trading volumes, stablecoins and DeFi still lead
New token listings: GameFi-related industries such as Play-to-Earn, Gaming, and Metaverse have the highest number of new token listings, growing around 14% in August.
We also note that bitcoin remains the most important cryptocurrency in all regions of the world. Followed by Ether and, oddly enough, the Shiba Inu. Memecoins remain very strong vectors of attraction and adoption of cryptocurrencies. The dream of creating an x1000 remains entrenched in the collective imagination. And these altcoins embody this dream of wealth, at the risk and peril of investors.
The term “back pull” is also one of the most searched for in the crypto ecosystem. Positive information showing that investors are trying to understand and anticipate the dangers of Web3 by getting information upstream.
Cryptocurrency Market Sentiment
With over 940 million monthly visitors, CMC is able to collect data on what tokens people are interested in, how active people are commenting, liking and following certain projects/sectors, as well as certain products we build: bullish/ bearish button = > proprietary data provides a complete picture of retail market sentiment.
Layer 2 scaling solutions like Arbitrum and zkBNB are gaining popularity
Layer 1 solutions with built-in optimization such as Aptos (popular with SOL builders) and Sui (popular for gaming/NFT) are gaining popularity.
Real Yield has also been a popular story in the DeFi industry in recent months. Rather than incentivize stakeholders with dilutive token issuances, real return protocols pay token holders with revenue generated from fees.
CoinMarketCap Research is a new branch created by CoinMarketCap.
Alice Liu, head of research for CMC Research, told Cointribune exclusively:
” As a search aggregator, we partner with leading voices from all parts of the industry to spread ideas among a wider group of users.
We recently published two on-chain analyzes using Glassnode.A GameFi report with Footprint and a DeFi report with Spartan Labs. As well as dedicated research columns featuring Jump Crypto, BNB, Gauntlet and more. »
CMC Research is new and small, but they want to use the CoinMarketCap platform to deliver solid content to users and give partners a stage to showcase their thought leadership.
CMC Research’s analytical tools allow you to step back and analyze key points of the cryptocurrency market in detail, to better understand the current situation and anticipate the next steps.
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Observer of the monetary, economic and social revolution.