Ethereum network takes the crown of 2022

Solana benefits from the rise of Bonk, NEAR recovers most of December losses and record investments in web3 in 2022. Here’s our first weekly wrap of 2023.

Ethereum network outperforms Bitcoin in 2022

Total transactions made on the Ethereum network preceded those of Bitcoin by more than fourfold, as the Ethereum network had almost 408.5 million transactions in 2022, while Bitcoin saw only 93.1 million. And here in BitOasis, Bitcoin lost its leading position as the most traded crypto for the first time ever, as Ethereum was the most traded token by BitOasis users in 2022.

On another level, Ethereum has shown one more sign of rising popularity, as Ethereum Name Service recorded more than 2.8 domain registrations in 2022, which represents around 80% of all the ENS domains ever registered.

Solana breaks through the $13 mark

After weeks of bearish runs since the FTX collapse, Solana investors have finally taken a break from bad news. Benefiting from the high usage attached to the rise of the Bonk (BONK) token, Solana managed to start the year in green, with a price hike of more than 43% in the last 7 days, settling above the $13 mark, after breaking through the $14 level briefly on Wednesday.

NEAR Protocol makes double-digit gains

NEAR Protocol has been outperforming the rest of a ‘calm’ crypto market in the first week of 2023, managing to go as high as $1.6 on Thursday. The market seemed to overcome the news by end of the year of NEAR’s Octopus Network layoffs, which have affected 40% of its team, as NEAR’s price hiked starting from Wednesday to settle above the $1.5 mark, scoring gains of more than 18% in the last 7 days and recovering most of December losses.

Investments in web3 soar in 2022

Despite the continuous struggles crypto is facing on the trading level, web3 seemed to gain more popularity among investors than ever in 2022. According to data from Metaverse Post, 348 web3 start-ups collected or raised a total of $7.16 billion in investment last year, which represents a rise of more than $4.5 billion from 2021, and includes investments from some traditional commercial banks like Morgan Stanley and Goldman Sachs, in addition to major crypto players and central exchanges’ investment arms.

Turkey to use on-chain digital identitiesTurkey plans to use blockchain technology for the login process of several online public services, delivered through the E-Delvet system. Fuat Oktay, the vice president of Turkey, announced during the Digital Turkey 2023 event that citizens will be able to use blockchain-based digital identity to access e-wallet applications, making these public online services more secure and accessible. This announcement comes only days after the Turkish Central Bank’s completion of the first trial of the Digital Turkish Lira.

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