Celsius token got attention, Solana showed strong resilience
The entire market in week 25 through infographics: Solana introduced its smartphone, Celsius Network got the market's attention.
Market overview for week 25/2022
Tokens that received the most attention in week 25
CEL, a token of Celsius, continued to be the most searched token on Coingecko.
On June 13th, after Celsius suspended user activity due to liquidity issues, many users were liquidated as they could not deposit or withdraw. The CEL token then dropped from $0.43 to $0.17 within one day. Notably, Celsius deposited multiple cryptocurrencies with a total value of over $320M on the FTX exchange for no reason earlier.
The company made numerous efforts to stabilize Celsius Network's liquidity and operation, including hiring a lawyer, collaborating with the five US securities boards, and repaying several debts... One week later, on June 21, the price of CEL skyrocketed to $1.53, nearly nine times its ATL on June 13. Although Celsius has not yet allowed users to do transactions, it is clear that the company is making an effort.
Evmos was the second most searched token last week. Its price has grown massively, rising from $1.46 to $2.41 as Evmos Name Service (ENS) was officially live on June 24th. Early ENS beta testers would receive rewards distribution before the end of July this year.
Following the list were USDD, Terra, Solana…
Highlights in DeFi Categories from week 25
Top 10 blockchain games by social signal in the last 7 days
Play-to-earn has long been a popular trend among the community. Here is a list of the top 10 games that the community was most interested in in the past week.
At the top of the list was Decentraland. This game was actively promoting and developing itself by organizing Decentraland’s Game Jam 2022, Metaclub Society Decentraland Party, The Next Top Metaverse Build, Cruise Contrill Festival, The Creatorverse Buildathon, Metaverse Pride Party…
Following are the well-known names LoserChick, Axie Infinity, DungeonSwap… This list also included 3 new games: Cubie, EpicHero.io, and CyberCat. These are all fascinating and fun metaverse games.
Blockchain with the most active addresses in the last 30 days
Below is an infographic that summarizes the number of active wallet addresses by blockchain over the past 30 days.
- At the top of the list was BNB Chain with 7.75M wallet addresses, nearly 3M more than the oldest blockchain, Ethereum.
- Besides, we have blockchains with impressive numbers such as Polygon with 1.92M addresses, Ronin with 967 thousand addresses...
Blockchain platforms bounce from recent dip comparison
Below is a table comparing the recovery ability of the 10 blockchain platforms as the market experienced volatility and plummeted lately.
- Solana was the most resilient blockchain with 32% growth. In second place was TRX with 30% and third was ETH with 23%.
- ADA, NEAR, and XLM were the 3 tokens with the most minor growth at around 10%.
Detailed information can be viewed below.
Highlights from ecosystems in week 25
Review Top Staking Pools on Solana
Solana is a third-gen blockchain platform that is specifically designed for decentralized applications (Dapps) such as DeFi or NFT projects. The Solana blockchain is an open-source project that uses Proof-of-History (PoH) consensus.
Staking Pool is where investors stake their crypto assets. It combines crypto from inventors to increase the chance of getting block rewards. The staking pool will receive the rewards and proportionally distribute them among stakers.
Marinade Finance, with $195.1M in TVL, was a staking pool with the highest TVL in the Solana ecosystem. Users can stake SOL to earn mSOL and use it on 31 platforms including Sonar, Orca, Cream, FTX, Raydium, Solend... Marinade Finance is planning to increase mSOL utility and develop on-chain gauges for MNDE liquidity mining.
Lido came in second with a TVL of $ 66.4M. This is a staking platform for numerous assets like Ethereum, Solana, Kusama, Polygon, and Polkadot. After staking SOL on Lido, users will receive and use stSOL on a variety of other platforms, including Curve Finance, MakerDao, Aave... Lido is planning to focus on permissionless validation and resilient governance in the near future.
Following the list were Socean and Jpool. For details, please see the picture below.
Review top Gaming projects on Solana
Fast speed and low cost are two of many factors that draw game developers to Solana. The Solana blockchain currently has over 271 developed games with a wide range of genres such as role-playing games, metaverse, NFT…
Below is the top 11 games in the Solana ecosystem. Mini Royals and DeFi Land are two games that have been officially released and are available for testing.
Three games will be released in Q3/2022: Aurory, ChainMyth, and Rage Effect. These are all attractive shooting or role-playing games.
All the remaining games are expected to be released in the second half of 2022 including Geno Pets, Cryowar, Star Atlas... Most of these games are online role-playing games.
Solana introduced Saga smartphone which runs on Solana Mobile Stack (SMS)
On June 23, Solana Mobile, a subsidiary of Solana Labs, announced the launch of the Saga smartphone, which is integrated with the Solana blockchain, as well as the Solana Mobile Stack (SMS), an open source software toolkit for Android enabling native Android web3 apps on Solana.
SMS provides a new set of libraries for wallets and apps, allowing developers to create rich mobile experiences on Solana, and is built to run alongside Android.
Solana's Software Development Kit (SDK) provides tools that make it easy for developers to build and extend dApps functionality for Solana. In there:
- Mobile Wallet Adapter: A protocol for connecting web apps and native Android apps to wallets on mobile devices.
- Seed Vault: The application helps to secure the user's private key, and seed phrases.
- Solana Pay for Android: An app that enables users to pay easily via QR codes, NFC, text messages, and web browsers that requires Solana Pay launch.
Users can now pre-order Saga mobile phones and get them in early 2023.
Bitcraft overview
BitCraft is a Web3 Gaming developed by Clockwork Labs. This is a sandbox game with the MMORPG genre, bringing players into a large creative space. Players can create a lot of things depending on their creativity.
Below is a one-page overview for Bitcraft compiled by the Coin98 Insights team.
ChiliZ Ecosystem
ChiliZ is the first Blockchain platform applied to Esport. With the power of Blockchain technology, the dev team has developed a platform called Socios.com to help users both own crypto assets have the right to vote for their favorite clubs or sports.
Currently, the ChiliZ ecosystem has more than 250 members, including 154 sports partners in football, ice hockey, motorsport, tennis, basketball... from 25 countries and 4 continents such as Switzerland, France, Spain, Japan, Korea...
Conclusion
Solana is the first ecosystem to launch its own smartphone in preparation for the Web3 era. It is expected that the remaining ecosystems would also launch their own devices, like smartphones or laptops, in the future.
Although the price of the Celsius Network’s token is rising, it is reported that the company is facing bankruptcy and is about to be acquired. Let's wait and see what will Celsius Network do and the results.
Those were all the remarkable events compiled by the Coin98 Insights team. If there are errors in information analytics or any other problems, please leave a comment.
Thank you for spending time reading this article, and see you in the next episode of “On The Road”!