Crypto Weekly Report | OpenSea daily trading volume fell back to the average level in early August, Opyn options trading volume increased significantly to $1.44 million

Arbitrum, the Ethereum Layer 2 scaling protocol, was officially launched on September 1, and its on-chain data is growing rapidly. The TVL locked in Arbitrum exceeded $1.47 billion on September 11, and exceeded $1.5 billion on September 12.

Options trading volume on the Opyn exchange increased significantly this week, reaching $1.44 million.

The NFT market is not as active as in previous weeks. OpenSea’s daily volume has fallen back to the average level of early August, while weekly volume is down more than 50% compared to the previous week. The top ten NFTs by trading volume have seen significant drops in volume this week. CryptoPunks (-83%), Bored Ape Yacht Club (-57%), and Axie Infinity (-5.3%).

However, new NFT projects are still in the works. Andre Cronje’s Rarity attracted a lot of attention last week. Many contributors helped develop new tools for on-chain mini-games. Sipher, an NFT and blockchain project based on Ethereum, announced a public mint on September 9, which caused a short-term network congestion, causing gas fees to instantly surge to 2,400 Gwei.

The Solana ecosystem has also seen a continued boom, as evidenced by some notable signals. Saber, the stablecoin Swap DEX on Solana, surpassed $2.36 billion in TVL, becoming the highest TVL protocol on Solana. Lido Finance, a protocol for releasing liquidity for staked assets, has officially supported staking on Solana.

Although the price of coins has fluctuated significantly in the past week, the public chain market is promoting the construction of a DeFi ecosystem supported by huge funds. This week, two $300 million DeFi fund incentive plans were launched by Harmony and Algorand respectively. We are very much looking forward to the future development of the ecosystem of these blockchains.

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