Elon Musk changes Twitter avatar to Bored Ape NFTs, Shiba Inu gets the most attention

Let's review the week of 19th through infographic images with many useful insights: Elon Musk changed Twitter avatar to Bored Ape NFTs, booting APE Coin price; Shiba Inu is the most noted token on Ethereum; and more.

hieunguyen

Published May 08 2022

Updated Oct 13 2023

4 min read

Hi guys, this is the "On The Road" Series, with the purpose of summarizing the week through Infographic images, to provide market insights in the most intuitive way for you.

Market overview for the week

Tokens that received the most attention from the market in the past week

Back to the tokens most searched by CoinGecko users of the past week. First, we have the appearance of APE Coin, which managed to be the top most searched on many exchanges after an event from the American billionaire Elon Musk. He changed his main Twitter avatar, and that avatar featured the Bored Ape NFT and the APE Coin token. Aside from that, STEPN's GMT and GST tokens continue to storm the market.

There are some newcomers like CEEK, NEXO or ZPAY.

Notable events in week 17

In the past week, we have had some outstanding events as follows:

New Products: TRON DAO is expected to launch the stablecoin USDD, inspired by Terra's UST, Polygon introduced new products, Polygon Supernet, Optimism and Optimism Collective.
Mainnet, launch events: a16z Crypto Research, Mines of Dalarnia mainnet, SiennaLend, Evmos mainnet.
Some other events: Goldman Sachs introduced a loan package backed by Bitcoin. Coinbase Custody officially supported trading several new tokens, including $C98.

Highlights in DeFi Categories from the past week

Partners of Oracle projects

To evaluate the potential and growth of an Oracle project, the number of customers that Oracle is serving is one of the most important pieces of information, to quantify revenue through providing Oracle's solution.

Back to the number of customers in Oracle solution projects this month. Chainlink is still leading with an impressive number of more than 1,348 partners, left behind top projects with more than 170 partners of Berry Data and more than 80 partners of Band Protocol.

The most noticeable projects on Ethereum

Ethereum is inherently a prominent name in the market with thousands of projects built around it. However, users can filter projects through the Social Signal index to get a different perspective on the project. This Social Signal indicator tells us the heat of that project through social media platforms, knowing where the market is headed.

Here are the 10 names in the Ethereum ecosystem that are most noticed by users. First we have Shiba Inu, a name that has been attracting a lot of interest in all aspects. Followed by Bored Ape Yacht Club, one of the first and largest NFTs on Ethereum. There are new names in the rankings this time such as World of Ether, EverRise or Vee Friends by the millionaire Gary Vaynerchuk, also known as Gary Vee.

TVL on multiple blockchains

Below is the total value locked on each blockchain as of 9/3/2022. Looking at the Total Value Locked is also a good way to gauge the potential of a blockchain.

Out of the total of hundreds of blockchains on the market today, eight have made up 80% of all locked assets in the entire market. At the top, we have the oldest blockchain, Ethereum. Terra's blockchain has grown very strongly in recent times, currently, the amount of TVL on Terra is close to $30 B, far behind is BNB Chain with $12 B.

Outstanding fundraising events in the past week

The first half of 2022 is an extremely explosive period for the fundraising market. Big funds have been extremely active like Tiger Global, SoftBank Vision Fund or a16z.

Here are the top 10 most prominent fundraising events in the first week of May 2022. CertiK finally closed the Series B funding round after the last round of funding on April 22 with a value of $60 M, the total value raised of the Series B round was $290 M. Cogni, a new generation digital bank also completed a funding round of $23 M following aggressive moves to enter the crypto market. Besides, NFT projects are also very attractive to cash flow such as LimeWire, PROOF and Holograph.

Ondo Finance overview

Ondo Finance is an open and decentralized investment bank. Ondo offers choices between downside protection and enhanced returns. There are 2 options for users to choose from, each of them has different features and different APY.

Below is a one-page overview for Ondo, compiled by the Coin98 Insights team.

Highlights from ecosystems in the past week

Optimism- An Ethereum scaling solution

Optimism is a Layer 2 scaling solution on Ethereum to reduce gas fees, speed up transaction completion, thereby providing a smoother user experience while maintaining security from the Ethereum original chain. Optimism belongs to the Optimistic Rollup segment, using a fraud proof security mechanism.

Currently, Optimism has more than 110 projects and partners in its ecosystem. Some impressive numbers of Optimism can be mentioned are the $800 M on-chain value and a saving of more than $1 B compared to Ethereum. Optimism has been valued at $1.65 B at the time.

Conclusion

Above is all the remarkable information compiled by the Coin98 Insights team. If there are errors in information analytics or any other problems, please don’t hesitate to leave a comment. See you in the next episode of “On The Road”! This week’s market summary ends here. Thank you so much for taking the time to read the article.