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BNB Chain deployed the most dApps in 2022, while Ethereum led the pack for NFT transactions

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BNB Chain deployed the most dApps in 2022, while Ethereum led the pack for NFT transactions

BNB Chain deployed the most dApps in 2022, while Ethereum led the pack for NFT transactions Zeynep Geylan · 11 hours ago · 2 min read

BNB Chain deployed 2,163 dApps, while Ethereum recorded 21.2 million NFT transactions during 2022.

2 min read

Updated: January 20, 2023 at 11:27 am

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Cover art/illustration via CryptoSlate

BNB Chain deployed the highest number of dApps throughout 2022 with 2,163 dApps, while Ethereum ranked first for amount of NFT transactions, according to a recent report by DappRadar.

With 21.2 million transactions, Ethereum (ETH) became the busiest platform for NFT sales in 2022, followed by WAX (WAXP) and Polygon (MATIC) at second and third place with 14.5 million 13.3 million transactions, respectively. Meanwhile, BNB Chain only recorded 1 million NFT transactions throughout the year.

dApp Integrations

Even though it recorded a 7% decrease since 2021, BNB Chain remained at the top of the list by integrating 2,163 dApps in 2022. Polygon and Ethereum are second and third in the ranking, with over 500 integrations each.

dApp Integrations by Top Chains

Except for BNB Chain, Ethereum, and TRON (TRX), all others recorded increases in the number of integrated dApps.

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As of the end of 2022, BNB Chain’s dominance of dApp integrations sits at 36.7%, as opposed to 43.7% in 2021. Coming second in line, Polygon’s dominance also decreased slightly to 12.8% in 2022 from 13% in 2021. Ethereum’s dominance also shrunk from 16.4% in 2021 to 11.4%

Applications that posed a high financial or operational risk were the dominant dApp category for BNB Chain, with 31%. Gaming and NFT were the most prevalent categories for Polygon and Ethereum, with 21% and 35%, respectively.

NFT Sales

Ethereum-based NFT sales exceeded 21.2 million in 2022 — a 207% increase from 2021’s 6.9 million.

NFT Sales Count of Major Networks

Wax and Polygon followed Ethereum as second and third with 14.5 million and 13.3 million transactions, respectively. Despite its leading performance in dApp installments, BNB Chain is ranked at the bottom of the list with 1 million NFT transactions.

Based on year-over-year growth percentages, however, Solana (SOL) and Immutable X (IMX) surpass Ethereum as first and second. As opposed to Ethereum’s 207% growth, Solana’s transaction count recorded a 440% increase, while Immutable X grew by 315%.

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Ethereum is also the network with the highest intrinsic NFT value in 2022, with over $300 per NFT transaction. Polygon and Solana follow Ethereum as second and third, with $104 and $88 per transaction, respectively.

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Monero [XMR]: Can bulls defend $163 support level as bears take over

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Monero [XMR]: Can bulls defend $163 support level as bears take over

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

  • XMR formed a descending channel pattern. 
  • Investors were strongly bearish on XMR as Open Interest (OI) fluctuated. 

Monero’s [XMR] press time plunge was likely because of an increasing divergence in key technical indicators. XMR dropped by over 6% in the past seven days, as per Coingecko’s data.


Read Monero [XMR] Price Prediction 2023-24


At press time, its market was still weak as bears had more leverage. However, the asset was approaching a crucial support level. 

The $163.8 support level: Can it hold the drop?

Source: XMR/USDT on TradingView

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The increasing RSI (Relative Strength Index) and volume divergence from mid-January signaled February’s price correction. The RSI and volume dropped while the XMR price surged, painting a bull trap ripe for a correction. So far, XMR has fallen from $186 towards the end of January to $165 at the time of writing. 

Monero could drop further and break below the crucial $163.8 support level. However, the drop could be checked by the $157 or $154 support levels. 

But bulls could attempt a recovery if the $163.8 support holds, invalidating the bearish bias described above. The rebound could target the upper boundary of the descending channel. However, traders can only make long entry positions if a break above and retest on the upper channel’s boundary is confirmed. Such an upswing would target the $180 zone. 

Nevertheless, the market weakened further, as shown by the dropping RSI and fluctuating volume (OBV). Therefore, bulls may have difficulty regaining control at the $163.8 level.

Investors were bearish on XMR as OI fluctuated

Source: Santiment

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According to Santiment data, investors were strongly bearish on XMR, as shown by the negative sentiment. In addition, the demand for the asset in the derivatives market has been fluctuating, limiting its strong uptrend momentum in the past few days/weeks. 

If the fluctuation in demand continues, XMR could face an extended price correction and a devaluation below the $163.8 price level. 


Is your portfolio green? Check out the XMR Profit Calculator


In addition, the open interest rate data by Coinglass further reinforces XMR fluctuations. More money moved from XMR’s futures market around mid-January. Afterwards, the OI fluctuated, undermining a strong uptrend momentum or recovery. 

Although the dropping OI momentum reduced at press time, a convincing price recovery could follow BTC’s bullish price action. Therefore, investors and traders should monitor the king coin price movements. 

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Source: Coinglass

Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

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ADA price action

Cardano approaches critical resistance level of $0.42: Bulls to witness more gains?

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Cardano approaches critical resistance level of $0.42: Bulls to witness more gains?

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

  • The higher timeframe market structure remained strongly bullish.
  • The $0.4-$0.42 is an important region of resistance- but ADA is likely to push higher.

Cardano [ADA] bounced from $0.38 to reach the $0.4 level of resistance over the past three days. Its technical structure remained bullish on the one-day timeframe – a move above $0.4 and subsequent retest could be a buying opportunity.


Is your portfolio green? Check the Cardano Profit Calculator


The increase in whale transactions saw a significant increase after 3 February. This raised concerns that buyer dominance was weakening.

Any pumps into the $0.42 area will be to take profits on

Source: ADA/USDT on TradingView

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Cardano has seen a remarkable run so far. A jump above $0.31 and the subsequent retest of $0.32 saw the support on the daily market structure decisively broken. The bias remained bullish, although the RSI continued to drop lower to show weakened bullish momentum.

This was because ADA encountered a stern band of resistance around $0.4. It is an important higher timeframe horizontal level. The $0.425 level acted as support from May to October 2022. Beneath it, the $0.4 and $0.376 levels also acted as important support and resistance levels in October and November.


How much is 1, 10, 100 ADA worth today?


Therefore, ADA bulls late to the party must recognize that the meat of the move upward is finished. Lower timeframe scalps within the $0.4-$0.42 region is possible. Longer-term buyers can wait for the flip of $0.42 to support before bidding and must be ready to cut the trade on a drop below $0.4.

The rising OBV meant some demand was present behind ADA. Above $0.42, $0.51 and $0.6 are the next high timeframe levels to watch out for.

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Sentiment has been lukewarm in February

Weighted sentiment fell below the zero mark as February 2023 began and hasn’t recovered since. The MVRV ratio (30-day) also tumbled, but the price did not see a significant sell-off. This hinted that near-term holders might have finished booking profits, and selling pressure could soon abate.

The development activity was unaffected by the higher price swing, which should encourage long-term holders. The age-consumed metric saw a swift spike in early February when ADA pulled back from $0.413.

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Analysis

Smaller exchanges see around $200M in Bitcoin withdrawn over past week

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Smaller exchanges see around $200M in Bitcoin withdrawn over past week

Smaller exchanges see around $200M in Bitcoin withdrawn over past week Oluwapelumi Adejumo · 6 hours ago · 2 min read

Blockchain analytical firm Santiment said Bitcoin’s existing supply has been moving to self-custody since its value crossed $23,000.

2 min read

Updated: February 8, 2023 at 7:34 pm

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Cover art/illustration via CryptoSlate

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Around $200 million worth of Bitcoin (BTC) was withdrawn from smaller exchanges over the past week, according to Glassnode’s data as analyzed by CryptoSlate.

Gate.io recorded the highest withdrawals during this period — the exchange saw $120 million. It was followed by Bithumb, which saw $60 million in withdrawals, and Luno, with $45 million in withdrawals.

The charts below detail the extent of the withdrawals across these exchanges:

Source: Glassnode
Source: Glassnode
Source: Glassnode

Meanwhile, the withdrawals were not restricted to the smaller exchanges alone. Coinglass’s data showed that the amount of Bitcoin on exchanges plummeted over the previous seven days.

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According to the data, Binance’s balance reduced by 4,726 BTC in the last seven days, while Coinbase and Kraken dropped by 1,961 BTC and 1,384 BTC, respectively.

The data were further corroborated by the blockchain analytical firm Santiment. The firm said BTC’s existing supply has been moving to self-custody since the assets price crossed $23,000 in early February. It added that there are only 1.47 million Bitcoin on exchanges — the lowest amount since November 2018.

Source: Santiment

Santiment said:

“There is now $416.5 billion in BTC sitting away from exchanges, and $29.2 billion in BTC on exchanges.”

Crypto investors increasingly favored self-custody following the FTX collapse of last year.

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