We are in the BUILD market! 🚀 According to the latest Binance Research report, not everything seems red & gloomy in this recent bear market.
The first half of 2022 has proven to be challenging for investing in risky assets — even for not-so-risky ones. Crypto has not been spared from the market downturn. Nonetheless, continued developments and innovation in the crypto ecosystem contributed to an optimistic view of the future of crypto, according to Binance Research.
For one — the recently published Binance Half-Year Report 2022 shows that competitionbetween layer-ones remains as fierce as ever. The total value locked of L1s declined throughout the year, and Ethereum has been losing market share to alternative L1s. Ethereum’s market share of TVL dropped from 96.91% at the start of 2021 to 59.01% by June 2022. Yet neither of them stopped innovating and the focus on increased scalability is still persistent — despite the different approaches towards it.
Another key takeaway was the dominance of Ethereum in DeFi — which has continued to decline as other chains, such as the BNB Chain, catch up. Development in the space remains strong and fundraising in DeFi — $2.6 billion so far this year — has already hit an all-time high. On the regulatory front, the team portrayed an optimistic view, seeing regulation as "nothing bad per se" as they believe that "proper regulation can foster increased institutional adoption and enhance consumer protection while at the same time allowing cryptocurrencies to see further adoption."
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