Binance Research - Market Pulse

Binance Research's Q4 State of Crypto: Market Pulse report provides a snapshot of the cryptocurrency market and includes key charts and insights. The report highlights that the crypto market capitalization decreased by 15.9% quarter-over-quarter (QoQ) in Q4 2022 but there are signs of a pick-up in early 2023. The activity of Layer 1s blockchain networks saw a decrease in Q4, with Solana having the highest quarterly decline. The decentralized finance (DeFi) sector also declined in Q4, with total value locked dropping by 27% QoQ. The report also highlights a decrease in the non-fungible token (NFT) sector, falling 10% QoQ in Q4 2022. However, on a full-year basis, NFT sales increased by more than 10% in 2022 compared to 2021. The gaming landscape is dominated by BNB Chain, Ethereum, and Polygon. Binance Research is the research arm of Binance, the leading cryptocurrency exchange, and aims to deliver independent and comprehensive analysis of the crypto space. The report is intended for informational purposes only and is not investment advice. The opinions expressed are subject to change and investment in cryptocurrencies involves risks.