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  • Market Pulse is a compilation of key charts and insights by Binance Research, shedding light on the state of crypto.

  • Market Overview: Crypto market capitalization decreased by 15.9% QoQ in Q4 but there are signs of a pick-up in early 2023.

  • Layer 1s: Blockchain activity generally trended lower in Q4. Solana saw the highest quarterly decline when compared to Ethereum, BNB Chain, and Avalanche.

  • DeFi: Q4 marked another quarter of further decline as DeFi TVL fell -27% QoQ, ending the quarter at US$39.1B.

  • NFTs: NFTs fell -10% QoQ in Q4 but on a full-year basis, NFT sales in 2022 increased by >10% vs. 2021 as a result of strong sales in the first half of 2022.

  • GameFi: The gaming landscape is led by BNB Chain, Ethereum, and Polygon, with more than 80% market share (by number of games).


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