Web3 devs ‘more active than ever’ amid crypto winter: Report
Consecutive all-time-high smart contract deployments and surging usage of Web3 script libraries mean that Web3 devs are still busy working despite the prolonged market downturn.
In a new Q3 2022 report on Oct. 13 by Web3 development platform Alchemy, the company said that 2022 could be the “biggest year yet” for Web3 developers.
Around 36% of all smart contracts ever deployed and verified on the blockchain have been in 2022, a count of nearly 118,000 compared to the over 323,700 ever deployed, according to the report.
This is despite the price of Ether (ETH) falling by nearly 66% since the start of the year and the total value locked in decentralized finance (DeFi) protocols falling around 70% year-to-date, according to DappRadar.
Nonfungible token (NFT) trading volumes have also taken a beating, decreasing by 98% since late January.
Alchemy states the deployment of smart contracts increased by 40% from the first quarter of the year with consecutive all-time highs hit every month over the third quarter peaking at 17,376 in September alone.
The data also shows smart contract deployments increased by 143% compared to the third quarter of 2021, reaching over 48,500 for the third quarter of 2022.
Alchemy noted that in the two weeks following Ethereum’s Merge — when the blockchain moved from a proof-of-work to proof-of-stake consensus — smart contract deployment increased by 14%, suggesting some developers may have been waiting for the event to launch their projects.
The company also analyzed the usage of two Web3 script libraries, Ethers.js and Web3.js, which allow developers to read blockchain data and build Web3 products.
The team found the number of developers installing either library had increased by three times that of Q3 2021 to over 1.5 million downloads on average per week.
The data also shows smart contract deployments increased by 143% compared to the third quarter of 2021, reaching over 48,500 for the third quarter of 2022.
Alchemy noted that in the two weeks following Ethereum’s Merge — when the blockchain moved from a proof-of-work to proof-of-stake consensus — smart contract deployment increased by 14%, suggesting some developers may have been waiting for the event to launch their projects.
Consecutive all-time-high smart contract deployments and surging usage of Web3 script libraries mean that Web3 devs are still busy working despite the prolonged market downturn.
In a new Q3 2022 report on Oct. 13 by Web3 development platform Alchemy, the company said that 2022 could be the “biggest year yet” for Web3 developers.
Around 36% of all smart contracts ever deployed and verified on the blockchain have been in 2022, a count of nearly 118,000 compared to the over 323,700 ever deployed, according to the report.
This is despite the price of Ether (ETH) falling by nearly 66% since the start of the year and the total value locked in decentralized finance (DeFi) protocols falling around 70% year-to-date, according to DappRadar.
Nonfungible token (NFT) trading volumes have also taken a beating, decreasing by 98% since late January.
Alchemy states the deployment of smart contracts increased by 40% from the first quarter of the year with consecutive all-time highs hit every month over the third quarter peaking at 17,376 in September alone.
The data also shows smart contract deployments increased by 143% compared to the third quarter of 2021, reaching over 48,500 for the third quarter of 2022.
Alchemy noted that in the two weeks following Ethereum’s Merge — when the blockchain moved from a proof-of-work to proof-of-stake consensus — smart contract deployment increased by 14%, suggesting some developers may have been waiting for the event to launch their projects.
The company also analyzed the usage of two Web3 script libraries, Ethers.js and Web3.js, which allow developers to read blockchain data and build Web3 products.
The team found the number of developers installing either library had increased by three times that of Q3 2021 to over 1.5 million downloads on average per week.
The data also shows smart contract deployments increased by 143% compared to the third quarter of 2021, reaching over 48,500 for the third quarter of 2022.
Alchemy noted that in the two weeks following Ethereum’s Merge — when the blockchain moved from a proof-of-work to proof-of-stake consensus — smart contract deployment increased by 14%, suggesting some developers may have been waiting for the event to launch their projects.
Alchemy
Web3 Developer Report (Q3 2022)
Despite the crypto winter, web3 developers are more active than ever including 1.5 million Ethereum SDK downloads per week, a 178% increase since Q3 2021.
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MetaStreet Secures $10M for NFT Loans in the Metaverse
MetaStreet, a metaverse-oriented decentralized interest rate protocol, has raised a fresh round of venture funding as the startup readies its latest product.
The $10 million capital raise — ahead of the launch of what MetaStreet dubs “PowerSweep” — brings the company’s one-year funding haul to $24 million.
The round received participation from existing investors from Dragonfly Capital, Nascent and Ethereal Ventures. New investors include Fintech Collective, DCG, TheLAO, Focus Labs, Mirana Ventures, Metaversal, OpenSea Ventures, Ledgerprime, Meta4 and Flying Falcon.
MetaStreet operates as a capital provider and is the architect behind the infrastructure required to automate the underwriting and execution of fixed-rate, NFT-backed loans.
Its latest product, PowerSweep, is vying to increase the purchasing power of NFT traders by allowing them to buy and sell NFTs on margin via Reservoir, a Web3-native NFT order book protocol.
MetaStreet, a metaverse-oriented decentralized interest rate protocol, has raised a fresh round of venture funding as the startup readies its latest product.
The $10 million capital raise — ahead of the launch of what MetaStreet dubs “PowerSweep” — brings the company’s one-year funding haul to $24 million.
The round received participation from existing investors from Dragonfly Capital, Nascent and Ethereal Ventures. New investors include Fintech Collective, DCG, TheLAO, Focus Labs, Mirana Ventures, Metaversal, OpenSea Ventures, Ledgerprime, Meta4 and Flying Falcon.
MetaStreet operates as a capital provider and is the architect behind the infrastructure required to automate the underwriting and execution of fixed-rate, NFT-backed loans.
Its latest product, PowerSweep, is vying to increase the purchasing power of NFT traders by allowing them to buy and sell NFTs on margin via Reservoir, a Web3-native NFT order book protocol.
Blockworks
MetaStreet Secures $10M for NFT Loans in the Metaverse
MetaStreet, a decentralized interest rate protocol, has raised a fresh round of funding as the startup readies its latest product.
Samsung announced a multi-device protection solution that will use blockchain-inspired tech
Binance launches $500 million fund to provide loans to Bitcoin miners
Binance has launched a $500 million fund to provide loans to Bitcoin miners struggling to cope with difficult crypto-market conditions.
Binance Pool, the company's mining service, will provide loans for both private and publicly-listed Bitcoin miners — who will need to pledge security, in the form of physical or digital assets, to obtain loans with a duration of 18-24 months. Binance will charge interest rates between 5% and 10%.
The initiative comes as Bitcoin miners experienced a tough few months while the price of bitcoin declined. With low bitcoin prices, miners' revenues have declined sharply — with Compute North even filing for bankruptcy.
Binance is not the only firm that is looking to support the crypto-mining industry. Last month, Chinese crypto billionaire Jihan Wu, the founder of Bitmain, set up a $250 million fund to buy distressed assets from Bitcoin miners. Wu’s Bitdeer Technologies Holding Co. plans to invest $50 million of its own money, with Wu then seeking to raise an additional $200 million from external investors.
Also last month, DeFi platform Maple Finance launched a $300 million lending pool for Bitcoin miners. The platform will charge interest rates of around 15%-20%, and provide loans that will have a duration of 12-18 months.
Earlier this month, crypto asset manager Grayscale formed a new entity named Grayscale Digital Infrastructure Opportunities LLC to invest in Bitcoin mining hardware. The entity plans to purchase mining rigs and hopes to profit by selling the bitcoins earned in the process.
Binance has launched a $500 million fund to provide loans to Bitcoin miners struggling to cope with difficult crypto-market conditions.
Binance Pool, the company's mining service, will provide loans for both private and publicly-listed Bitcoin miners — who will need to pledge security, in the form of physical or digital assets, to obtain loans with a duration of 18-24 months. Binance will charge interest rates between 5% and 10%.
The initiative comes as Bitcoin miners experienced a tough few months while the price of bitcoin declined. With low bitcoin prices, miners' revenues have declined sharply — with Compute North even filing for bankruptcy.
Binance is not the only firm that is looking to support the crypto-mining industry. Last month, Chinese crypto billionaire Jihan Wu, the founder of Bitmain, set up a $250 million fund to buy distressed assets from Bitcoin miners. Wu’s Bitdeer Technologies Holding Co. plans to invest $50 million of its own money, with Wu then seeking to raise an additional $200 million from external investors.
Also last month, DeFi platform Maple Finance launched a $300 million lending pool for Bitcoin miners. The platform will charge interest rates of around 15%-20%, and provide loans that will have a duration of 12-18 months.
Earlier this month, crypto asset manager Grayscale formed a new entity named Grayscale Digital Infrastructure Opportunities LLC to invest in Bitcoin mining hardware. The entity plans to purchase mining rigs and hopes to profit by selling the bitcoins earned in the process.
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France approves its third-biggest bank to operate digital asset services
Société Générale, France's third-biggest bank by market cap, quietly obtained regulatory approval to operate as a digital asset service provider in the country last month.
It is France's third-biggest bank and the sixth-largest player in Europe in terms of its balance sheets.
As of last month, through its fully integrated blockchain-focused subsidiary, Societe Generale Forge, the banking giant can now custody, sell and trade digital assets. This is thanks to a digital asset service provider (DASP) ruling from the Autorité des Marchés Financiers (AMF), the French financial market regulator.
Currently, in France, many venture capitalists struggle to find regulated custodial solutions for digital assets. This means that French crypto funds such as the €100 million Ledger Cathay Capital fund were set up as unregulated special purpose vehicles.
Société Générale, France's third-biggest bank by market cap, quietly obtained regulatory approval to operate as a digital asset service provider in the country last month.
It is France's third-biggest bank and the sixth-largest player in Europe in terms of its balance sheets.
As of last month, through its fully integrated blockchain-focused subsidiary, Societe Generale Forge, the banking giant can now custody, sell and trade digital assets. This is thanks to a digital asset service provider (DASP) ruling from the Autorité des Marchés Financiers (AMF), the French financial market regulator.
Currently, in France, many venture capitalists struggle to find regulated custodial solutions for digital assets. This means that French crypto funds such as the €100 million Ledger Cathay Capital fund were set up as unregulated special purpose vehicles.
The Block
France approves its third-biggest bank to operate digital asset services
French banking giant Société Générale has been approved to operate digital asset services through its subsidiary Forge.
Prediction: As AI changes many professions, the human craft will be become more highly valued. As the cost of essentials go down, we'll pay a premium for the story behind a well-crafted object, the human touch, the love that went into it.
Mastercard will help banks offer cryptocurrency trading
The payments giant plans to announce a program Monday that will help financial institutions offer cryptocurrency trading.
Giant will act as a “bridge” between Paxos, a crypto trading platform already used by pay pal.
Mastercard will handle the regulatory compliance and security — two core reasons banks cite for avoiding the asset class.
Mastercard’s chief digital officer said polling still shows demand for the asset, but roughly 60% of respondents said they would rather test the waters through their existing banks.
The payments giant plans to announce a program Monday that will help financial institutions offer cryptocurrency trading.
Giant will act as a “bridge” between Paxos, a crypto trading platform already used by pay pal.
Mastercard will handle the regulatory compliance and security — two core reasons banks cite for avoiding the asset class.
Mastercard’s chief digital officer said polling still shows demand for the asset, but roughly 60% of respondents said they would rather test the waters through their existing banks.
CNBC
Mastercard will help banks offer cryptocurrency trading
Mastercard is launching a program to let financial institutions offer cryptocurrency trading to their clients.
Blockchain games and metaverse projects have raised $7 billion so far in 2022
Despite the harsh market conditions, Web3 games continue to be a driving force for the dapp industry.
In Q3, gaming activity accounted for almost half of all blockchain activity tracked by DappRadar across 50 networks, with 912,000 daily Unique Active Wallets (UAW) interacting with games’ smart contracts in September.
Alien Worlds and Splinterlands remain the two most played Web3 games, with over 160,000 daily UAW registered in September. Gameta, a gaming platform first deployed on Solana and now running on the BNB Chain, attracted over 1 million daily UAW in September.
Similarly, the Polygon-based Benji Bananas climbed the rankings during the last quarter attracting over 29,000 daily UAW in September.
The impact of blockchain games is also visible in the NFT market, where Gods Unchained cracked the top 5 collections by trading volume in September with over $18 million generated by its game assets.
Despite the harsh market conditions, Web3 games continue to be a driving force for the dapp industry.
In Q3, gaming activity accounted for almost half of all blockchain activity tracked by DappRadar across 50 networks, with 912,000 daily Unique Active Wallets (UAW) interacting with games’ smart contracts in September.
Alien Worlds and Splinterlands remain the two most played Web3 games, with over 160,000 daily UAW registered in September. Gameta, a gaming platform first deployed on Solana and now running on the BNB Chain, attracted over 1 million daily UAW in September.
Similarly, the Polygon-based Benji Bananas climbed the rankings during the last quarter attracting over 29,000 daily UAW in September.
The impact of blockchain games is also visible in the NFT market, where Gods Unchained cracked the top 5 collections by trading volume in September with over $18 million generated by its game assets.
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Binance, the world’s largest crypto exchange, and its billionaire founder Changpeng Zhao have dodged scrutiny by financial regulators in the U.S. and UK.
Now there are signs that the strategy is fraying.
Now there are signs that the strategy is fraying.
Reuters
How Binance CEO and aides plotted to dodge regulators in U.S. and UK
Crypto exchange Binance and its founder have swerved scrutiny by financial regulators, Reuters reporting shows. Now there are signs the strategy is fraying
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DEX volumes have steadily declined throughout 2022 as the bear market has muted most on-chain activity.
However, Uniswap still executes most DEX volume with a 58% volume share.
The protocol's recent expansion onto zkSync positions them for continued dominance.
However, Uniswap still executes most DEX volume with a 58% volume share.
The protocol's recent expansion onto zkSync positions them for continued dominance.
app.uniswap.org
Uniswap Interface
Swap crypto on Ethereum, Base, Arbitrum, Polygon, Unichain and more. The DeFi platform trusted by millions.
It's official: Meta's $400m Giphy takeover has been unwound by competition regulators in the UK.
Meta has admitted defeat, with a spokesperson for the company telling me the company "accept today’s ruling as the final word on the matter."
Meta has admitted defeat, with a spokesperson for the company telling me the company "accept today’s ruling as the final word on the matter."
CNBC
Facebook parent Meta admits defeat after Giphy deal is blocked by UK regulators
Meta, the owner of Facebook, has been reordered by U.K. competition regulators to sell its animated GIF unit Giphy after losing an appeal.
⚡️Facing Threat From Apple, Google Tries New Hardware Playbook
It may be Google’s worst nightmare. Apple’s iPhone is stealing share from Samsung phones powered by Google’s Android software.
At the same time, U.S. antitrust regulators are scrutinizing Google’s search deal with Apple, raising the prospect that Google’s search may lose its favored position in the Safari browser on iPhones.
These twin developments, which threaten Google’s mobile ads business, have prompted the tech giant to take a big gamble.
It is doubling down on investment in its own hardware, including its Pixel phones, including by moving product development and software engineering staff working on features for non-Google hardware to work on Google-branded devices, according to an internal document.
It may be Google’s worst nightmare. Apple’s iPhone is stealing share from Samsung phones powered by Google’s Android software.
At the same time, U.S. antitrust regulators are scrutinizing Google’s search deal with Apple, raising the prospect that Google’s search may lose its favored position in the Safari browser on iPhones.
These twin developments, which threaten Google’s mobile ads business, have prompted the tech giant to take a big gamble.
It is doubling down on investment in its own hardware, including its Pixel phones, including by moving product development and software engineering staff working on features for non-Google hardware to work on Google-branded devices, according to an internal document.
The Information
Facing Threat From Apple, Google Tries New Hardware Playbook
It may be Google’s worst nightmare. Apple’s iPhone is stealing share from Samsung phones powered by Google’s Android software. At the same time, U.S. antitrust regulators are scrutinizing Google’s search deal with Apple, raising the prospect that Google’s…
A newly developed microelectrode array that uses a special 3D printing technology can prove to be a potential breakthrough for open access brain computer interface technologies.
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Today a16z crypto to announce the launch of new accelerator, Crypto Startup School.
The program will include:
Investment from a16z crypto ($500k)
Mentorship from leading founders
Advice from domain experts
Network of fellow builders
Apply.
The program will include:
Investment from a16z crypto ($500k)
Mentorship from leading founders
Advice from domain experts
Network of fellow builders
Apply.
a16z crypto
Crypto Startup School - a16z crypto
Crypto startup school is a 12-week accelerator program for web3 startups, including access to industry experts the a16z network.
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Japan to ease the listings of tokens in a bid to revitalize the crypto industry
Bloomberg.com
Japan to Further Relax Crypto Rules by Easing Listings of Tokens
Japan plans to further loosen cryptocurrency rules by making it easier to list virtual coins, potentially burnishing the country’s allure for Binance and rival foreign digital-asset exchanges.
What are the most innovative DeFi products currently in development?
👇 write in the comments
👇 write in the comments
Brazil's largest digital bank Nubank, with 70 million users, will launch its own cryptocurrency Nucoin with polygon in the first half of next year. In June, the bank started selling bitcoin and eth on the app.
Portal do Bitcoin
Nubank vai lançar criptomoeda própria na blockchain do Ethereum | Portal do Bitcoin
O token Nucoin será distribuído para todos os clientes do Nubank e vai integrar o programa de benefícios que o banco planeja expandir em 2023
⚡️scoop: FTX is spending money to push a law thru congress that may force defi protocols to operate like centralized exchanges.
The proposal is called the Digital Commodities Consumer Protection Act.
A better name would be the Digital Commodities FTX Protection Act.
The proposal is called the Digital Commodities Consumer Protection Act.
A better name would be the Digital Commodities FTX Protection Act.