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Crypto’s 69 most fascinating charts from 2021 | by Coinbase

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As most of us have been having fun with some R&R over Christmas break, Coinbase Cloud protocol specialist Elias Simos was scouring the online for probably the most fascinating crypto charts of 2021: 69 of them to be precise.

Within the newest Round The Block podcast, we sit down with Elias and focus on among the most fascinating information factors from the yr, and what all of it means for the longer term. (Excessive stage takeaways beneath)

Metaverse and sensible contract property outperform

Worth isn’t every little thing, however the two high performing property in 2021 are indicative of broader developments all year long. 2021’s greatest performing property have been:

  • Metaverse gaming tokens
  • Good contract platform tokens

The governance tokens of gaming worlds Axie Infinity (AXS) and The Sandbox (SAND) every posted 16,000 and 13,000 p.c beneficial properties respectively. In the meantime, platform tokens from Polygon, Terra, Solana, and Fantom, all posted 8,000% beneficial properties or extra.

On condition that play-to-earn gaming had a breakout yr, and layer 1s not named Ethereum noticed robust adoption, these developments needs to be of no shock. Now let’s dig a bit deeper.

The state of Layer 1s

Ethereum’s native token (ETH) did a modest 2X over the yr, whereas it was considerably of a tough yr for Ethereum DeFi blue chips, with the DeFiPulse index down 80% over the yr vs ETH.

The worth of DeFi property doesn’t inform your complete story, nevertheless. TVL of Ethereum DeFi functions confirmed great progress over the yr, and the variety of distinctive Ethereum addresses interacting with DeFi protocols 4x’ed.

DefiLlama and Decentral Park Capital

Regardless, ETH killers and sidechains received the yr when measured by progress of general market share.

DefiLlama and Decentral Park Capital

The good migration & the EVM commonplace

In Could, there was $200M sitting in Ethereum bridges. That quantity climbed to $20B by the tip of the yr, underscoring the nice migration of worth from Ethereum to different ecosystems.

The flipside, nevertheless, is that regardless of this migration away from Ethereum, most worth nonetheless sits in EVM (Ethereum Digital Machine) suitable environments.

Do not forget that the EVM is basically the mind of Ethereum that performs computations for the community. When different Layer 1s undertake the EVM, it makes deploying present functions on new networks simpler for builders, along with making it simpler for customers emigrate to those new chains.

The dominance of worth on EVM suitable chains (Avalanche, Polygon, and so on) counsel that an ordinary is forming across the EVM. This could in the end hold Ethereum because the gravitational middle of the sensible contracting world, as ETH functions and property might be natively interoperable with most different chains.

Rise of the app chains

Whereas EVM chains nonetheless dominate the panorama, the tip of 2021 noticed an increase in worth on Tendermint chains. Recall that Tendermint is an ordinary popularized by Cosmos, that lets builders construct software particular blockchains which can be able to interoperating with each other.

Constructing app-specific chains previously got here with important alternative price, as a result of they have been minimize off from most liquidity and customers. With the progress of Tendermint chains like Osmosis (AMM), Umee (lending), and Stargaze (NFTs), that’s changing into much less of a difficulty.

Now that these app particular chains have a widening array of use circumstances and liquidity that they’ll interoperate with, search for extra builders to make the most of customizability that these chains provide in 2022.

The ENS airdrop + DAOs

In 2021, ENS reminded everybody of Web3’s native person acquisition technique: the airdrop.

ENS (Ethereum Identify Service) addresses are greatest considered e-mail addresses which you can ship cash to (e.g. Jimbo.eth). After 5 years in improvement, the mission shifted to a DAO mannequin, and airdropped ENS governance tokens to each person with an ENS deal with.

After the drop in November, consciousness of ENS and registration of .eth addresses skyrocketed.

Dune Analytics, matoken.eth

Because the ENS DAO treasury collects income from new .eth registrations, income for the newly minted ENS DAO treasury ramped up considerably: one other testomony to how a lot a properly orchestrated airdrop can transfer the needle.

Dune Analytics, matoken.eth

Past ENS, DAOs had a powerful yr, evident by the rising utilization in key items of DAO infrastructure. Gnosis Protected, which is the preferred multisig pockets DAOs use to handle their treasuries, noticed 3x progress in each the variety of Safes and transactions executed in 2021. Snapshot, a software that helps DAOs execute off-chain votes with on-chain verification, exhibited robust progress as properly.

EN-EFF-TEES

Exercise on the dominant platform for NFTs tells you all you could know in regards to the breakout yr NFTs loved.

Dune Analytics, Richard Chen

OG NFT CryptoPunks noticed 60x YoY progress, reaching a complete quantity of 650K ETH, or $1.7B at present costs. This determine nevertheless, features a flashloan powered $500M wash sale — a strong reminder of how a lot subjectivity there’s in on-chain information.

The second most notable NFT mission of the yr was Bored Ape Yacht Membership, which went from a distinct segment neighborhood to the celeb NFT of selection, together with the likes of Steph Curry, Shaq, Justin Bieber, Jimmy Fallon, Paris Hilton, amongst others. At one level the BAYC ground (value of the most affordable NFT within the assortment) momentarily flipped the CryptoPunks ground.

Within the warmth of recent issuances flooding the market, and older NFT collections reaching billion greenback market caps, the common value of NFTs altering palms did a 150x from 0.1 ETH to roughly 15 ETH by yr finish.

Dune Analytics, Richard Chen

One of the vital fascinating NFT launches of the yr was Loot (lined right here), which let anybody mint 1 of 8,000 NFTs that would type the premise of a Dungeons and Dragon type RPG sport. Preliminary pleasure was skyhigh, earlier than petering out as time went on.

Dune Analytics

Whereas Loot’s flame could have dimmed, it was nonetheless a landmark yr for NFT primarily based gaming, with the breakaway success of Axie Infinity bringing play-to-earn and GameFi narratives to the forefront. As the information exhibits, Axie Infinity NFT quantity dwarfs that of any prior NFT primarily based sport.

CryptoSlam and The Block

Lastly, whereas Ethereum was the middle of the NFT present, marketplaces look like arising throughout a number of chains. The information exhibits that decrease price environments are enabling various kinds of person exercise. Solana’s Magic Eden, for instance, has extra transactions than OpenSea since customers are unencumbered by exorbitant gasoline charges.

Extra in Elias’s epic thread

Past being chock-full of illuminating information factors on the yr in crypto and Web3, the total thread underscores the great thing about on-chain information and the elevated maturity of the trade. The flexibility for one individual to place collectively a dataset this wealthy is a testomony to all the nice information suppliers the trade now has at our disposal.

If you happen to haven’t already, take a look at the full thread which covers Bitcoin, Ethereum, MEV, L2 adoption, ETH2, staking, Web3, memecoins, DEXes, stablecoins, and an entire lot extra.

~Written by Connor Dempsey & Justin Mart.



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Sasith Mawan
Sasith Mawanhttps://techjunkie.xyz
I'm a Software Engineering graduate with more than 6 years experience on the IT world working as a Software Developer to Tech Lead. Currently the Co-Founder of a Upcoming Gaming Company located in United States.
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