Tezos Monthly: the NFT Market Loses Volumes in October ‘22

Tezos Monthly: the NFT Market Loses Volumes in October ‘22

This October was the month of DeFi. Youves is nearly done migrating to v3 pools, QuipuSwap moved to v2, and Plenty is getting ready to launch Plenty.network with PLY. This switched the attention of Tezos users from NFT to DeFi.

Here’s how the Tezos economy changed in October.

DeFi Is Fine, NFT Is Not

The total amount of assets blocked on Youves has reached $40m, 23% more than last month. The YOU token’s price has also grown to $1.85 (CoinGecko).

Other DeFi protocols also manifested certain growth in volumes, from 3% to 6% in terms of trade operations. As we expected, the launch of Smartlink Marketplace worked well for Vortex. Users now buy SMAK more eagerly, so Vortex’s TVL has grown by nearly 50 percent.

Things aren’t as good in NFTs, though. There weren’t any notable airdrops of potentially popular collections, so the trading volumes plummeted by a dozen percent. In the meantime, if you’re not an NFT collector and don’t know why you should bother, check out our guide for future NFT collectors.

DeFi

The data is for the period from October 1 to 31 and is compared with similar stats for September. We sourced the data from the internal analytics of apps, TzKT, and on-chain resources.

Baking: active stake 689 million tez (−1%) with overall value of $966 million.

Sirius DEX (liquidity baking):

  • TVL — $19 million (+6%);
  • volume — $8.7 million (−37%);
  • users — 622 (−11%).

QuipuSwap:

  • TVL — $3 million (+4%);
  • volume — $6.3 million (+15%);
  • users — 6.3 thousand (−14%).

Plenty DeFi:

  • TVL — $5.3 million (+5%);
  • volume — $3.5 million (+15%);
  • users — 4.9 thousand (−2%).

Vortex (Smartlink):

  • TVL — $745 thousand (+49%);
  • volume — $1 million (−9%);
  • users — 1.5 thousand (0%).

SpicySwap:

  • TVL — $279 thousand (−1%);
  • volume — $250 thousand (−24%);
  • users — 1.6 thousand (+3%).

Youves (Flat Curve):

  • TVL — $9,05 million (−14%);
  • volume — unknown;
  • users — 6.7 thousand (+12%).

Kord.fi:

  • TVL — $759 thousand (+3%);
  • volume — $1.2 million (−67%);
  • users — 414 (−14%).

Yupana:

  • TVL — $159 thousand (+32%);
  • volume — $490 thousand (−3%);
  • users — 579 (+28%).

Staking with one token (excluding LP-tokens):

  • Youves — locked $9 million (+14%);
  • Plenty — locked $548 thousand (+622%);

Synthetic assets:

  • ctez — locked $688 thousand (−5%);
  • kUSD — locked $5.1 million (−14%);
  • youves (uUSD, uBTC) — locked $31 million (+13%);
  • USDtz — locked $721 thousand (−12%);
  • WTZ — locked $159 thousand (−6%).

NFT marketplaces

Objkt.com:

  • volume — $7.3 million (−25%);
  • users — 83 thousand (−16%).

fxhash:

  • volume — $4.5 million (−19%);
  • users — 32 thousand (−3%).

Teia:

  • volume — $337 thousand (−26%);
  • users — 14 thousand (−37%).

Versum:

  • volume — $162 thousand (−12%);
  • users — 5.3 thousand (+29%).

Tezos Domains:

  • volume — $85 thousand (−81%);
  • users — 4.6 thousand (−31%).

GameFi

Tezos Degen Club:

  • volume — $153 thousand (−21%);
  • users — 774 (−23%).

Tezotopia:

  • volume — $59 thousand (−25%);
  • users — 3.9 thousand (−4%).

Juster.fi:

  • volume — $4.7 million as displayed on TzKT, but only $9660 on bet entrypoint;
  • users — 227 (−7%).

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How to Start Collecting NFTs: from Cheap to Expensive

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