Market Insights

  • The crypto market, driven by optimism surrounding spot Bitcoin ETFs, witnessed an impressive 19% surge in total market capitalization in October, marking the second-largest monthly gain of 2023. Notable gainers included SOL, LINK, and BTC, concluding the month with price increases of 78%, 45%, and 28%, respectively.

  • Bitcoin dominance hit a 2.5-year high of 53.47% in October, as optimism behind spot exchange-traded funds (“ETFs”) approvals and short liquidations propelled a rally in Bitcoin prices. In October alone, Bitcoin prices were up 28%.

  • After two years of development, Scroll's eagerly awaited mainnet has launched, marking its place among the expanding roster of zkEVMs this year. While already attracting over US$26.6M in total value locked (“TVL”) and 43K users, Scroll is still in its infancy, with significant room to approach the billion-dollar benchmarks set by some of its Layer-2 (“L2”) counterparts.

  • Uniswap Lab’s newly introduced interface fee has resulted in over US$647K collected in the two weeks since launch. The market share of Uniswap has remained relatively stable, and it is still the largest decentralized exchange by trading volume.

  • Maker, the protocol behind the DAI stablecoin, has seen its annualized revenue surge and breach its all-time highs near US$200M. A significant driver of increased revenue has been Maker’s willingness to onboard real-world assets (“RWAs”) as collateral for DAI. Specifically, annualized revenues from RWAs are up 455% from October 2022 and are now responsible for the majority (66%) of Maker’s total annualized revenue.

#BTC

#BNB🔥

#Ethereum2025

#Solana📈🚀🌐

#link