Crypto State-of-the-Industry Report: October 2022
An Overview
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General On-Chain/Off-Chain Sentiment
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NFT Overview
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NFT vs Bitcoin Correlation
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Analysis of NFTs by Genre
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State of DeFi
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DeFi Layer 1s
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Lending Protocols Suffering From Token Illiquidity
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Rise of CeDeFi
Authors’ Note
Over the course of the month, the crypto market has managed to recoup some early losses and ended the month of October with a positive 8% in returns. In addition, this month has seen some major cryptocurrencies, such as Bitcoin and Ether breaking through key resistance levels. For more information on how major cryptocurrencies are fairing on a daily basis, check out Bybit Crypto Insights’ Daily Bits here.
Meanwhile, this month has also earned the label “Hacktober” with a number of hacks and exploits flooding the DeFi scene. DeFi lending protocols have lost millions of dollars from the oracle manipulation of illiquid tokens.
With such an eventful October, this report aims to provide a comprehensive gauge of both on-chain and off-chain sentiments, as well as the current state of NFTs. In addition, this month’s focus topic will be on key events and updates in the DeFi space as well as what we can learn from them amidst the current prolonged bear market.
Source: Bybit Blog
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