Report

DeFi DApps activity rises 3.7% in August for first time since May — Report

DeFi dapps showed a slight recovery for the first time since May, with the daily average of unique active wallets (UAWs) increasing 3.7% on a month-over-month basis, according to a report from DappRadar.  The rise was partially driven by the Flow protocol, which rose 577% UAW due to Instagram’s support of its NFTs and the game Solitaire Blitz. On the other hand, Solana UAW shrank by 53% in August from the previous month, while transactions dropped by 68%, the findings showed. There were 1.67 million unique wallets connected to blockchain DApps in August, down 3.52% from last month, and down 14.73% compared to August 2021. Source: DappRadar Among industries, gaming accounted for over 50% of the activity usage, with 847,230 daily UAW, although it is down 11% and the numb...

Independent Tether attestation reveals 58% decrease in commercial paper holdings

An announcement from USDT issuer Tether Holdings Limited revealed information from an independent attestation about the company’s previous quarter’s performance. The reviewer, top accounting firm BDO Italia, assessed Tether’s assets as of June 30, 2022.  Tether had previously announced a commitment to decreasing its commercial paper holdings by the end of August 2022. Data from the report revealed a 58% decrease in commercial paper exposure since the previous quarter from $20 billion to $8.5 billion. The chief technology officer of Tether, Paolo Ardoino, tweeted that Tether has plans to continue to decrease its commercial paper holdings to $200 million by the end of August and zero them out by the following October. As of June 30th, more than 58% decrease in Tether’s commer...

Three-quarters of institutions to use crypto in the three years: Ripple

A whopping 76% of surveyed financial institutions plan on using crypto within the next three years, according to the report. Ripple’s new report highlights trends in the adoption and utilization of emerging technologies like crypto and blockchain in enterprise and financial institutions.  Both financial institutions and enterprises are understanding the benefits of internal crypto usage. The most common reason is that crypto gives more people access to more financial services, says 42% of financial institutions and 41% of enterprises. According to the survey, portfolio management and payments come forward as the most valuable additions to the enterprise world. Portfolio management is detailed as hedging against inflation, hedging against other asset types and asset appreciat...

Blockchain investments are disrupting the real estate industry: Report

The Cointelegraph Research Terminal, the leading provider of premium databases and institutional-grade research on blockchain and digital assets, has added a new report to its expanding library from the industry leader in tokenization.  The report, from Security Token Market and sister company Security Token Advisors, covers the rapidly emerging asset-backed real estate tokenization industry. It has information on the developing shifts in the industry and is a must for any firm or business with a portfolio that encompasses real estate. The tokenized real estate industry is growing rapidly amid the current market frenzy. With investors looking for a more secure investment that utilizes emerging technology, the demand for blockchain-based investment opportunities backed by real-world as...

11% of US insurers invest — or are interested in investing — in crypto

United States-based insurers are the most interested in cryptocurrency investment according to a Goldman Sachs global survey of 328 chief financial and chief investment officers regarding their firm’s asset allocations and portfolios. The investment banking giant recently released its annual global insurance investment survey, which included responses regarding cryptocurrencies for the first time, finding that 11% of U.S. insurance firms indicated either an interest in investing or a current investment in crypto. Speaking on the company’s Exchanges at Goldman Sachs podcast on Tuesday, Goldman Sachs global head of insurance asset management Mike Siegel said he was surprised to get any result: “We surveyed for the first time on crypto, which I thought would get no respondents, but I was surp...

NFT collectors sent $37B to marketplaces in 2022, nearly equaling 2021 already

Collectors of nonfungible tokens (NFTs) have already sent more than $37 billion in value to NFT marketplaces this year as of Sunday, a figure that nearly exceeds the total amount in all of 2021.  According to a report from Chainalysis, investors sent $40 billion worth of cryptocurrency to smart contracts associated with NFT collections and marketplaces throughout 2021. Source: Chainalysis Since the beginning of last year, NFT transaction volume has grown considerably, but the overall growth of the industry has been inconsistent. The report outlines that NFT transaction volume occurs sporadically and has been in a downturn since mid-February. The NFT market has since made a brief recovery as of mid-April — most likely due to the recent hype around Moonbirds and the Bored Ape Yacht Club...

GameFi is showing signs of a mature landscape: Report

Blockchain games are set to overtake decentralized finance (DeFi) as the number one contributor to decentralized application (DApp) activity in terms of uniquely active wallets. A new 18-page report by DappRadar surveys the nascent ecosystem behind this rise.  Although still dwarfed by the traditional gaming industry, blockchain games, sometimes dubbed GameFi, have seen an early spurt of exponential growth, according to the report’s data. “The evolution of blockchain games” report, which discusses play-to-earn (P2E) as a new paradigm for gaming, is available on the Cointelegraph Report Terminal to purchase. It details how the play-to-earn model gained traction in the COVID-19 pandemic when players from emerging economies were seeking new sources of income. In Q2 of 2021, which was not...

The NFT sector is projected to move around $800 billion over next 2 years: Report

Although NFTs have been a part of the cryptocurrency market since 2014, interest and adoption ha risen rapidly over the last two years. At their height in August 2021, the total trading volume of NFTs rose to over $5 billion, kickstarting what briefly came be to known as “NFT Summer”. According to a report by Coingecko, the NFT market is now expected to move more than $800 billion in the coming two years. The report, which mostly utilized investors from Asia and the Pacific, highlighted that of 871 respondents, around 72% of them already own NFT(s), with more than 50% of them declaring that they had 5 or more. As for investors, the report indicated a balance between the generations, suggesting 43.6% of NFT investors surveyed were between 18-30 years old and 45.2% are between 30-50 yea...

Singaporean investors’ appetite for crypto is key to mainstream adoption — Survey

As Singapore continues to play an active role in boosting crypto adoption across the Asia-Pacific region, the country’s first licensed crypto exchange Independent Reserve conducted a retail-focused survey to better understand the underlying potential of the regulated market. Independent Reserve’s survey — conducted across all age groups and genders of the Singapore population — revealed a strong affinity for various financial opportunities brought forward by decentralized finance (DeFi) and other investment opportunities. As explained by Raks Sondhi, managing director of Independent Reserve Singapore, the country’s rapid crypto adoption is driven by high level of trust and confidence in the future of crypto: “58% [Singaporeans surveyed] perceive Bitcoin as an investment asset or a sto...

Blue Chip and Metaverse NFTs propel growth of NFT Market, says Nansen report

On Tuesday, blockchain data analytics platform Nansen released its quarterly report on the state of nonfungible tokens, or NFTs. The report highlighted the rapid growth of the NFT market over that of the cryptocurrency market year-to-date, and it predicts of an $80 million market cap by 2025.  As Cointelegraph previously reported, Nansen recently released six NFT indexes weighted by market capitalization denominated in Ether (ETH): Nansen NFT-500, Nansen Blue Chip-10, Nansen Social-100, Nansen Gaming-50, Nansen Art-20 and Nansen Metaverse-20. According to the Nansen 2022 Quarterly NFT Report, The NFT market continues outperforming the cryptocurrency market year-to-date, putting in a 103.7% return when denominated in ETH and 82.1% when denominated in USD. Despite a downturn i...

Crypto industry seeks to educate, influence US lawmakers as it faces increasing regulation

Interaction between the cryptocurrency industry and Capitol Hill is becoming ever more intensive as efforts to regulate crypto grow in tandem with its popularity. The surge in crypto industry lobbying last year was given some concrete parameters in February by crypto analytics startup Crypto Head. It released a report showing that the crypto companies that spent the most money on lobbying in 2021 were Robinhood, Ripple Labs, Coinbase and the Blockchain Association. These organizations were the lobbying leaders during the past five years as well, although with different rankings. Here is what the United States crypto-lobbying landscape looks like today. Metrics of influence Robinhood spent $1.35 million on lobbying in 2021 and was the only crypto-related organization to spend more than $1 m...

Chainalysis report finds most NFT wash traders unprofitable

Nonfungible tokens (NFT) have taken the world by storm, resulting in mainstream interest and greater adoption of cryptocurrency. According to blockchain analysis firm Chainalysis, NFT popularity skyrocketed in 2021. Chainalysis’ “NFT Market Report” shows a minimum of $44.2 billion worth of cryptocurrency sent to Ethereum smart contracts associated with NFT marketplaces and collections last year. The report notes that this number was $106 million in 2020. While impressive, increasing scams and fraudulent activities have infiltrated the NFT space. For instance, major NFT marketplace OpenSea recently announced that its free minting tool was prone to misuse. As a result, OpenSea shared that 80% of NFTs created using this tool were either plagiarized, fake or spam. If that wasn’t bad enough, Ch...