jakiro
Source: Techflame
In the first half of 2024, the cryptocurrency market showed a diversified development trend. Among them, the three major performances of the three major sectors of Gamefi, the second layer of Bitcoin (Layer 2) and the decentralized physical infrastructure (DEPIN) were particularly outstanding.As the most mature sector, GameFi is susceptible to market fluctuations, but the continuous prosperity of its ecosystem provides a strong support for the application and landing of cryptocurrencies in daily life.Fast.The Layer 2 solution represented by the Lightning Network is continuously deepened and improved, significantly improved transaction efficiency and network throughput, and effectively solves the problem of expansion of the Bitcoin’s main network.The DEPIN sector shows the high degree of integration with the real world.By introducing decentralized concepts into traditional physical infrastructure, DEPIN is expected to promote the digital transformation of traditional industries, and it has also opened up a new direction for the future development of decentralized technology.
1. Gamefi plate
1) Gamefi Market Overview
In the past five years, Gamefi has been considered the best field that connects Web2 users with Web3.During this time, Gamefi has many phenomenal -level products, such as Axie Infinity, and 3A masterpieces created by Web3 created by some large manufacturers, such as ILV.These projects have received huge amounts of financing.However, the reality is that in the past five years, a total of 2817 Web3 games have emerged, and the lowest failure rate has reached 45.9%(according to network data).It can be said that at the end of the bull market, most games have stopped operation or lost their activity.This shows that the success of the field of Gamefi is not easy, and many challenges need to be overcome.
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Network statistics data
As of the first half of 2024, from the perspective of the number of games alone, the gamefi field reached a peak, totaling more than 3285 games.In fact, the number of online games in the first half of 2024 even exceeded the sum of the number of games in the past five years.Therefore, from the overall perspective, in the first half of 2024, the field of Gamefi was in a booming stage.The highest market value reached US $ 412.5 billion on March 12, 2024.However, due to the overall market conditions, the market value has continued to decline, and it is currently US $ 18.69 billion (as of June 30, 2024).
Emerging trends and innovation projects in the gamefi market
In this round of bull market, all aspects have experienced major innovation.The original X-TO-EARN economic model has fallen into a spiral dead cycle, and the proportion of gold and gold cannot reach balance.The characters participating in Gamefi include players, teams and project partners.If only players who only have gold or teams do not involve gold, this will likely cause huge pressure on the project in the later period, resulting in the difficulty of the project to continue, or even in a soft RUG state.
Since 2024, with the rise of PEPE and other projects, we can see that people in the circle are more inclined to community consensus projects and no longer superstitious myths of venture capital.More traffic tends to guide some all -round projects, which are more conducive to the participation of retail investors.Gamefi was also inspired and began to use Free-TO-Play-To-Earn.Everyone can participate for free, without additional cost or high starting equipment costs, only one mobile phone can participate in the game and get the value through the game, and have the opportunity to make money.This model is more in line with the interests of most people.For example, NOT in TON ecosystem is a popular product that uses this model.
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Not game page
The key factor that attracts users
There are two key factors why GameFi can attract a large number of users: playability and wealth effect.First of all, the playability of the game is an important factor that attracts users. Only fun, challenging and easy -to -use games can retain players.Secondly, the wealth effect is the core charm of Gamefi. Players can get real economic returns through participation in games and investment.This wealth -added mechanism has attracted more people to participate.The small game of the new TG track really meets the above two important conditions, becoming a new trend of gamefi development.
2) GAMEFI data brief analysis in the first half of the year
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The number and growth rate of protocols
In the first half of 2024, the number of protocols in Gamefi also increased slightly, from about 2800 to about 3,200.As for the growth rate of DAO, it is related to specific events and extreme markets. In most cases, it is at the middle and lower reaches, about 0.1%to 0.3%.This shows that as a whole, under the solid foundation of 2023, the number of protocols in the GAMEFI field and the growth rate of DAO are relatively stable, and there is no significant explosive growth.
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Market value and active users
According to the FOOTPRINT data analysis, in the first half of 2024, the market value of GameFi was consistent with the market value of Bitcoin and rose steadily.However, from April, the market value declined, and the decline was much larger than Bitcoin.This shows that the market value trend of GameFi has a certain correlation with the market value of Bitcoin, but the performance of GameFi during the decline period is even more weak.
As for active users, the active user data of the game sector maintain a relatively healthy growth trend.In the first half of the year, it maintained a faster growth rate.However, due to the influence of market fluctuations, active user data basically remained at that level after the peak of early April, without excessive growth, and even a decline in it.
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Transaction volume and transfer amount
As for TXNS (transaction volume), it is one of the important indicators of the activity on the chain.Compared with the number of active users that continues to increase, the number of transfers has occurred slightly between February and March, and then continues to decline.
The change in the number of transfers may reflect the influence of users’ behavioral patterns and market trends in GAMEFI.In the small peak period of February to March, it may be due to some specific activities, the launch of new projects, or the influence of market hotspots, resulting in an increase in transfer activities between users.However, the subsequent decline may be due to changes in market emotions, weakness in specific projects, or investors’ risk preferences for the GAMEFI field.
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Let’s take a look at the latest daily data. The daily active users are about 2.64 million, the number of daily transfers is about 12.96 million, and the daily transaction volume is about 9.44 million.Online users.
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Finally, let’s take a look at the distribution of the game sector on each chain.Since 2021, the top three chains are still Ethereum, BNB and Polychain.However, since 2024, game projects have gradually involved in more different chains, leading to continuous increase in the number of games on these different chains.
The trend of this multi -chain distribution may be due to the continuous development and innovation of blockchain technology and the degree of support for chain tours, so that more chains have the ability to support game development and operation. Different chains have different communities and ecology.The system, where the 2024 is more popular with the public chain, may be more inclined to IMX and Ronin.
2. BTC Layer 2
1) Bitcoin No. 2 market overview
After the ORDI made a major breakthrough last year, the Bitcoin ecosystem began to become one of the hottest areas in 2024.Following the inscription, runes also appeared one after another, and each segmented field was highly sought after.Compared with the rising MEME trend, Bitcoin’s second -level solution (BTC L2) pays more attention to solving problems in the construction of Bitcoin ecological infrastructure.
Although the development of the inscription has been developed for a year, the problem of network congestion has seriously hindered the further development of the Bitcoin ecosystem.During this critical period, whether it is the second -level solution of Ethereum or the second -level plan of Bitcoin itself, its goal is to enable their ecology to go to the next level and achieve wider application and adoption.
New progress and technological development of solutions
Bitcoin’s second -layer solution mainly includes the following:
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Concentrated two -layer solution: This type of scheme is transferred from the Bitcoin main network or the payment network by constructing a centralized exchange or a payment network, and some transactions are transferred from the Bitcoin main network to the layer to reduce the burden on the main network.These transactions are completed within the second floor network, and the final result is only submitted to the Bitcoin main network when necessary.Typical representatives such as Lightning & Amp; RGB, which uses two -way payment channels and hash -based lock -up contracts (HTLC) multi -jump payment mechanisms, considering scalability and privacy to a certain extent.
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Decentralized side chain: This type of solution is constructed independent blockchain on the Bitcoin main network, introducing new tokens and consensus mechanisms.These side side usually have their own node network and consensus algorithm, and interact with the Bitcoin main network.For example, Stacks (formerly known as BlockStack) uses the Staked BTC (STX) tokens and Proof of Transfer (POX) consensus mechanism.Babylon and Interlay are also other decentralized side chain projects.The advantage of such schemes is the relatively high degree of decentralization and security, while providing more functions and scalability.
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Joint side chain: This type of scheme is based on cooperation to expand the function of Bitcoin by simplifying operations and improving efficiency.These side chain are usually managed by a trusted consortium or institution, and there is a certain trust relationship with the Bitcoin main network.Representative projects such as Liquid (launched by Blockstream), which provides a faster transaction confirmation and higher transaction capacity for Bitcoin, while increasing privacy.Rootstock and Botanix are also examples of such joint -side chain projects.However, this solution may be at the cost of sacrificing the Bitcoin foundation, because it depends on large households and has caused some centralized risks.
Future development
Because the price of Bitcoin itself is high and scarce, it makes the general public unable to participate easily. The existing Bitcoin investment is mainly concentrated in some countries, institutions or rich people.If more popular participation in the Bitcoin ecosystem, Bitcoin’s second -layer solution may be more attractive.However, there are still some problems with the existing two -layer scheme, such as high trading fees (GAS fees) and network congestion, which limits the development of the second layer of ecology to a certain extent.
If these problems can be effectively solved, Bitcoin’s second -layer solution should usher in a broader development prospect in the future.For example, by further optimization and innovation, reducing transaction fees and alleviating network congestion, so that the general public can easily participate in it.In this way, the availability and attractiveness of the second -layer network will be greatly improved, laying the foundation for the further expansion and development of the Bitcoin ecosystem.
Data analysis
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DEFILLAMA Bitcoin TVL data
In contrast, the data analysis and reports of the Bitcoin No. 2 network are relatively small.According to DEFILLAMA data, the current Layer 2 (Layer 2) total lock value (TVL) of Bitcoin is about 106.04 million US dollars.Among them, the largest proportion was Arbitrum, Bitlayer, and Rootstock, respectively, accounting for 28.28%, 25.68%, and 14.52%, respectively.
It is worth noting that starting in April, the market share of traditional large pledge projects Rootstock and Merlin has fallen sharply.In contrast, emerging projects Bitlayer and Bounterbit have obtained more market share and successfully eaten the market of some original projects.
3. DEPIN plate
Overpin Circuit Overview
DEPIN (DECENTRAND PHYSICAL Infrastic Networks) is an emerging infrastructure construction and management model.It refers to constructing and maintaining infrastructure in a decentralized way in the physical world.This “infrastructure” can be a WiFi hotspot in the wireless network, or it can also be a home solar cell in the energy network.This innovation method is completely changing the creation and management of traditional centralized infrastructure and hardware networks.
According to MESSARI’s forecast, by 2028, the DEPIN industry is expected to reach a scale of $ 35 trillion.This decentralized infrastructure construction model has the potential to increase US $ 10 trillion in GDP in the next ten years, and it is expected to reach a scale of $ 1 million in ten years.
At present, the main segments of the DEPIN industry include cloud storage, computing power, and wireless sensor networks.These areas are based on decentralized underlying architectures, using distributed hardware resources to provide more flexible, scalable and efficient infrastructure services.
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In addition to GameFi and RWA (real world assets), DEPIN can be regarded as the third track closest to Web2 users.This field is expected to develop the economic cycle model to the extreme.
This is because the DEPIN field can be compared and analyzed directly from the actual data and traditional industries, so as to find greater advantages.For example, Depin’s decentralized storage solution is about 70%-80%cheaper than traditional cloud storage.
These obvious advantages make DEPIN an important connection point between Web2 and Web3.No other fields can better use distributed hardware network resources like DEPIN, and extend it to compete with technology giants.Investment institutions’ investment in the DEPIN field is gradually achieving the connection between the cryptocurrency world and traditional industries.This track is expected to play an important role in the future and promote the centralized transformation of traditional industries.
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DEPIN plate ecological full -view
Data analysis
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According to the statistics of Coingecko, the decentralized physical infrastructure network (DEPIN) sector is currently ranked 29th, with a total market value of about $ 20140 million.On the whole, the market value of the DEPIN sector has risen steadily.
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As far as DEPIN uses the number of people, it has a positive correlation with the total amount of equipment.According to the latest data, the total device of DEPIN has increased by 1.7 million units in the past 7 days, mainly from key application projects such as WIFI MAP.
From the perspective of geographical distribution, most of the DEPIN devices are concentrated in Europe, North America, and Southeast Asia.This reflects that these developed and technological applications are widely adopted by DEPIN solutions.
It is worth noting that in the domestic market, due to the influence of policy supervision and other factors, the growth rate of the deployment and application of distributed resources and equipment has slowed significantly.This shows that the differences in geopolitical and regulatory environment are becoming one of the important factors restricting DEPIN development in certain regions.
Nevertheless, DEPIN still shows a good growth trend.
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DEPIN protocol head income situation
According to the industry data provided by Artemis, in the past year, the top three DEPIN protocols (Helium, Geodnet, and Akash Network have generated a total of $ 3.5 million in fees.This highlights the strong position and good business model of head projects in the DEPIN field.
It is worth noting that the profitability of the DEPIN protocol also shows certain volatility.Data show that the profit level in the first quarter of 2024 was about 30%higher than the second quarter.This change may be related to the influence of the fluctuation of the cryptocurrency market, but in general, the market is widely recognized by the market for DEPIN technology and application scenarios.
