During Binance Blockchain Week, a team from CoinMarketCap, specializing in market data analysis, intervened to present the latest important elements to analyze the situation of the cryptocurrency market.
Crypto Market Cap
Considering sideways market movements, CoinMarketCap saw the total cryptocurrency market capitalization decline by 9.98% in August alone, to less than $1 trillion. This decline is partly explained by macro-economic factors and difficult global economic conditions.
However, a few sectors are still experiencing strong growth.
The DeFi, smart contracts, and collectibles/NFT sectors saw the strongest growth in dollar market capitalization in August. Additionally, the gambling and fan token sectors saw the highest percentage growth in market capitalization with 404% and 262% growth respectively.
For trading volumes, stablecoins and DeFi are still leading
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 main cryptocurrency in all regions of the world. Followed by Ether and, strangely, the Shiba Inu. Memecoins remain very strong vectors of attraction and adoption of cryptocurrencies. The dream of making an x1000 remains anchored in the collective imagination. And these altcoins embody this dream of wealth, at the risk and peril of investors.
The term “rug-pull” is also one of the most searched in the crypto ecosystem. Positive information that shows 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 which tokens people are interested in, how active people are in commenting, liking, following certain projects/sectors, as well as certain products that we construct: bullish/bearish button => proprietary data gives a complete picture of retail market sentiment.
Layer 2 scaling solutions such as 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 narrative in the DeFi industry over the past few months. Instead of incentivizing 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 Tremplin.io exclusively:
” As a search aggregator, we partner with leading voices from every part of the industry, to spread ideas to a wider group of users.
We recently published two on-chain analyzes with Glassnode.A GameFi report with Footprint, and a DeFi report with Spartan Labs. As well as dedicated research columns with Jump Crypto, BNB, Gauntlet and more. »
CMC Research is new and small, but they want to leverage 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 important points of the cryptocurrency market in detail, in order to better understand the current situation and anticipate the next steps.
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