2023 Crypto Market Review: Public Chain Coins Lead the Rise, Lido Lock-up Position Ranks First

The crypto market in 2023 experienced a significant rise at the end of the year after a long period of volatility. As market conditions changed, the focus shifted continuously, and various sub-sectors faced new development trends. The wave of inscriptions rekindled interest in public chains; the DeFi market developed steadily, with the lock-up position fluctuating around $50 billion; the NFT market value shrank by 31%, with several blue-chip projects seeing their prices halved; SocialFi briefly became a hot topic. This article reviews several sectors, including token prices, public chains, DeFi, NFTs, and DApps, by analyzing trading and on-chain data:

Secondary Trading Market

Among the top 100 mainstream tokens by market capitalization, the average rise of the top 30 tokens reached 512.75%. Among them, INJ had the highest rise, exceeding 2994%, while KAS and RNDR both rose over 1000%. BTC rose 153% and ranked 28th.

The market capitalization ranking of the top 30 coins by rise is mostly between the 30th and 50th place. Among them, 10 belong to the Layer 1 concept, 4 belong to the Layer 2 concept, and 6 belong to the DeFi concept.

Public Chain

The highest average daily active addresses are Tron, BNB Chain, and Bitcoin; the highest average daily transaction counts are Solana, Tron, and Avalanche. Avalanche has the highest annual active address growth, followed by Solana; NEAR has the highest annual transaction count growth, followed by Bitcoin and Avalanche.

DeFi

Among the top 30 protocols by TVL, Lido leads with approximately $20.52 billion, followed by Maker, AAVE, and JustLend.

Protocols with a high TVL rise include Spark, Blast, EigenLayer, Jito, Marginfi, Marinade Finance, Benqi, Rocket Pool, Lido, Morpho, and Synthetix. Solana and Avalanche also occupy a place among the leading projects.

NFT

In the top 30 NFT transactions, BAYC exceeds 1.7 billion USD, followed by MAYC with over 1.2 billion USD, and Azuki with over 900 million USD.

Among the top 30 projects with the highest rise in NFT transaction prices, Opepen Edition, OnChainShiba, and Checks all saw increases of over 5000%, with another 20 projects rising over 100%.

Among the top 30 projects with the largest drop in NFT transaction prices, several well-known blue chips appeared, such as Doodles down 74%, Beanz down 70%, Cool Cats down 64%, MAYC down 63%, BAYC down 61%, Azuki down 52%, and Otherdeed down 50%.

Games and Social DApps

High-activity games and social applications have two common characteristics: first, a lack of sustainability, as almost all projects can only maintain high activity in the short term; second, explosiveness, as the vast majority of projects complete explosive cold starts at the end of the year, with particularly high increases in annual active addresses and transaction counts.