First look at emerging crypto trends in 2023: Nansen
First look at emerging crypto trends in 2023: Nansen
In the middle of the Baisse and the course of the course of FTX, the crypto industry is still fighting to get back to its feet, since innovation and technological progress continue.
However, the market showed signs of improvement in the first week of 2023, whereby the Ethereum ecosystem is leading. According to a report by the blockchain data analysis company Nansen, the Liquid Staking platforms from Ethereum have experienced a significant increase in price in recent weeks.
Liquid Staking protocols rise when the stubborn ETH meets ATH
According to the report, this increase is largely due to the upcoming Shanghai upgrade of the Ethereum network, which is scheduled to go live in March. The highly expected upgrade will enable investors to lift their assets, which are currently included in various staking protocols, and at the same time to significantly reduce the risks associated with the staking of ETH.
As the fusion in the weeks before the event built an interest bully dynamic in the weeks before the event, the Shanghai upgrade is currently ensuring a massive hype on the cryptomarkt.
According to Nansen, the governance tokens of several liquid staking protocols are skyrocketed last week when the hype builds up.
Lido, the largest platform for liquid staking derivatives, has an inflow of large sums, with the native token rising by 65 % in the past seven days. Last week Lido short exceeded Makerdao to become the largest Defi protocol on the market.
The official ETH2 staking contract has also recorded impressive figures in the past few weeks with a new all-time high of 15.9 million ETH is currently being stopped.
If the anticipation increases to the Shanghai upgrade, it will probably drive the brands of these liquid-staking contracts to new highs and offer these platforms the opportunity to grow.
Ethereum L2 protocols record massive growth
The Nansen report also pointed out that Ethereum-Layer-2 solutions such as Arbitrum and Optimism have gained in draft force in recent months, whereby the number of transactions on these chains has increased significantly.
The polygon ecosystem is also not left out, since the number of daily transactions in the chain is currently around 3 million, which corresponds to the triple of Ethereum. On the other hand, the on-chain volume in the Ethereum network has decreased slightly in recent weeks.
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