# Weekly Crypto（2022/5/16-5/22） By [98KDAO](https://paragraph.com/@98kdao) · 2022-05-23 --- ![](https://storage.googleapis.com/papyrus_images/e3c12e96744b318ed3995b62737bb48a2a0f54040c3137ae2d6a86a77323ab80.jpg) Crypto Quotes ------------- ### Weekly Quotes **BTC: 29297 USDT _（-6.48%）_** **ETH：1970 USDT _（-8.18%）_** **BNB: 304 USDT _（-2.59%）_** **ADA：0.52 USDT _（-12.3%）_** **SOL：53 USDT _（-15.4%）_** **DOGE：0.08 USDT _（-9.66%）_** Overview -------- * **Cryptocurrency Market Drops $1 Trillion This Month, When Will Recovery Signs Come?** Over the past month, the market value of crypto assets has shrunk by $1 trillion and the S&P 500 index has fallen to its lowest level since the beginning of 2021. All markets around the world are experiencing rugroll inflation, rising interest rates and geopolitical turmoil. The crypto asset market is also facing some special problems due to the plunge of Terra USD (UST), the so-called "algorithmic stablecoin". But how badly have major areas of the crypto asset market, such as BTC, DeFi and NFT, been affected? Are there any visible signs? Let's take a deeper look. * **BTC price falls for seven straight weeks, breaking records** BTC fell to nearly $26,000 on Saturday (it closed at $30,000 on Wednesday), down about 60% from its all-time high in November. From a historical perspective, BTC is close to the 62% decline experienced in the early pandemic panic of 2020, but is still far from the more than 80% decline in crypto assets in a bear market in 2018. * **ETH has fallen even more, with BTC down about 24% and ETH down about 37% this month** Looking at the broader ethereum economy as a whole, the ethereum blockchain TVL has fallen back from $90 billion to $70 billion since its peak in November 2021. the NFT market has also fallen sharply, with weekly NFT trading volume down nearly 65% as of Sunday and the hottest NFT ecosystem seeing significant volume changes this week. the Bored Ape Yacht Club ( BAYC) sales were down nearly 64%, and sales of the BAYC virtual real estate Otherdeed were down more than 90%. * **Who is "buying the bargains"? Do you think prices will fall further?** According to a recent CoinShares report, investors took advantage of this week's low prices to buy $300 million worth of BTC. however, some veteran traders are suggesting a long-term view. Legendary value investor Bill Miller told CNBC that he recently sold some bitcoin to pay off debt, but that he remains bullish on the market in the long run. "I've experienced at least 3 declines of over 80% .... I haven't heard any convincing arguments" * **What are the signs of hope?** During the crypto asset winter of 2018, Wall Street generally considered BTC to be a joke. It's hard to find a major financial institution that doesn't offer cryptoasset products, and the trend shows no signs of abating. This week, Nomura Securities announced the creation of a new 100-person division dedicated to BTC, DeFi and NFT, and in Australia, a new Bitcoin and ETH listed investment trust has been launched. In addition, Brazil's largest digital bank has started offering BTC trading to its clients (and investing 1% of its own funds in crypto assets). Meanwhile, Bitcoin's global computing power continues to soar to record highs, indicating that miners are optimistic about the future. * **Record High Investment and Financing Markets** While the secondary market is sluggish, the crypto investment and financing market is still hot. According to 98KDAO statistics, the financing scale of blockchain industry reached $9.2 billion in the first quarter of this year, a record high, among which the financing scale of U.S. blockchain market reached $5.8 billion, accounting for the highest percentage. In addition, the number of blockchain investment and financing transactions reached 461, also a record high, up 84% from the same period last year, with 28 transactions with a financing scale of more than $100 million. ![](https://storage.googleapis.com/papyrus_images/2875d2cd795a83d254492aea5a191c36b93d3e6da339e7ba9dce17f3f9696856.jpg) * **Binance, the leading company** According to 98KDAO, Binance topped the list of exchanges in Q1 2022 in terms of both transaction volume and traffic, and led by a wide margin, with transaction volume more than three times that of second-place OKX. The exchange gradient is clearly distributed, with Binance alone in the first slot, Coinbase, OKX, FTX, Bybit, and Kucoin in the second slot, and Gate, Huobi, [Crypto.com](http://crypto.com/), and MEXC in the third slot, from a comprehensive view of both transaction volume and traffic. ![](https://storage.googleapis.com/papyrus_images/51fe87a1c2ff07a91f04deb45699853846763323f1e84d55f9ac6c695bee7314.jpg) There is a clear gradient distribution of exchanges, with Binance alone in the first slot, Coinbase, OKX, FTX, Bybit, and Kucoin in the second, and Gate, Huobi, [Crypto.com](http://crypto.com/), and MEXC in the third, based on a combination of two dimensions: trading volume and traffic. ![](https://storage.googleapis.com/papyrus_images/63311881266586944c5752774a7c5eeaa2689cb66cb37c2527f68d6781965f98.jpg) Weekly Number ------------- 68.2% ----- The top three TVL rankings are ETH, BNB Chian and Tron, with ETH's lead still obvious. Due to the impact of the market and LUNA incident, the TVL of each public chain has dropped significantly compared to a month ago, the biggest drop is 68.2% for Fantom, but the special thing is that Tron has not only not dropped but also increased by 23%. ![](https://storage.googleapis.com/papyrus_images/9a5a311e54c5a5c3d84a923b93e44b476040115f49e2829f12ef6afaabdd06c0.jpg) 5.81M ----- Solana holds the top spot with 5.81M seven-day active addresses, as much as 68.4% ahead of BNB Chain in second place. ETH is in third place with 2.11M, and ETH and BNB Chain together are almost the same as Solana. Most blockchains saw a small decline of 3% to 10% in daily activity due to the downward trend of the market. ![](https://storage.googleapis.com/papyrus_images/236ac094b12b523fc3389a0c8920c02391462c8d5437d7921a1e40bb4761a4cc.jpg) 22.8 Billion ------------ Bored Ape Yacht Club tops the list with a market cap of $2.28 billion, with CryptoPunks narrowly behind in second place. three of the top five NFT market caps are projects owned by Yuga Labs, known to many as the "blue chip factory" in the NFT circuit. ![](https://storage.googleapis.com/papyrus_images/b392a6ec94f97053c60a1dcf18f503ee2cd1c112fbbbd4f2eb62308e1acc3cca.jpg) Weekly Investment ----------------- The crypto industry completed 34 funding rounds this week with a total amount of 919M, down 53% compared to last week's 1.96B. The number of funding rounds over $10M was 16, or 47%. The largest amount was Lithosphere Network's $400M seed round led by Gem Capital, followed by Elwood Technologies' $70M. The largest amount raised in the Web3 track was N3twork Studios' $46M Series A round led by Galaxy Interactive led the round. The most active institutional performers were Alameda Research and Animoca Brands, each investing in four projects. the Web3 track was the most popular among institutions, with 18 Web3 projects completing funding this week, accounting for 53% of the total, followed by Infrastructure and DeFi. ![](https://storage.googleapis.com/papyrus_images/66023572f0496fba5e9e32ebfaf63a15ac37ae69b3b2a5452bdbc7ae5df810ae.jpg) Weekly Headline --------------- * Numerous Investors in South Korea Jointly Sue Do Kwon * Binance has integrated Optimism network and opened Optimism Layer 2ETH deposit * a16z launches first game fund GAMES FUND ONE, Riot, Tencent and other cooperation support * Opensea Launches New Marketplace Protocol Seaport Protocol * Over 85% of LUNA Holders Support Terra Fork * Do Kwon Dissolves Terraform Labs Before Collapse * Fanhouse, a fan cashing platform, closes $20M A-share financing led by a16z * Pantera Capital Cashes Out Nearly 80% of its Investment in Terra Before UST Crash * Bitkeep closes $15M Series A at $100M valuation, led by Dragongly * Final Fantasy game publisher Square Enix plans to issue tokens and invest in Web3 games Industry Voices --------------- * Avalanche Founder: Terra Incident Is Worse Than Mt. Gox Hack * Coingecko Associates: Fed Rate Hike Makes Crypto Market Challenging in the Next 12-18 Months * Jack Dorsy: Bitcoin is the only currency on the internet * Glassnode: Stablecoin supply contracted by $2.9 billion last week, the largest in history * a16z: Crypto industry still in early stages, equivalent to 1995 of the internet Twitter： [twitter.com/98Kdao](https://twitter.com/98Kdao) 🔔About Us ---------- 98KDAO, a group of partners with the most OG spirit, outputs the most valuable information and becomes a bridge to connect the blockchain world in different languages. --- *Originally published on [98KDAO](https://paragraph.com/@98kdao/weekly-crypto-2022-5-16-5-22)*