Bucking the trend, 7 sets of data review the first half of OKX Web3 wallet
Entering 2023, the Federal Reserve's aggressive rate hike policy has suppressed global risk assets. Amidst a liquidity chill, the crypto industry struggles to move forward amidst "positive and negative" news.
SEC cracks down on CEX, Hong Kong fully supports Web3, Curve stablecoin pool faces attack, Bitcoin BRC-20 ecosystem rises, BlackRock Bitcoin spot ETF delayed, Grayscale wins SEC lawsuit... The crypto industry continues to experience gaps and constantly adjusts and corrects itself.
Currently, most crypto asset prices have fallen more than 80% from the previous bull market's peak, new active addresses have significantly declined, stablecoin purchasing power continues to erode, and many on-chain indicators are reaching historical lows, unable to escape the influence of cyclical rotations. The upcoming interest rate decisions and the monetary policy statements of the Federal Reserve chairman are magnified infinitely, replacing the old market narratives as the logic of ups and downs, as the market eagerly awaits the end of the bear market.
In the backdrop of such a deep bear market, Web3 products represented by OKX Web3 Wallet have been bucking the trend, diligently honing their fundamentals and establishing Web3 entrance standards, while improving user experiences to drive new Web2 user growth. Over the past few months, many data have shown remarkable performance.
I. OKX NFT Market Achieves a 24-Hour Trading Volume of 13.4 Million
According to DappRadar data, despite the current NFT sector experiencing a historic low in trading volume, the OKX NFT market has shown a continuous upward trend in trading volume. On September 3rd, the OKX NFT market reached a 24-hour trading volume of 13.4 million, once again setting a new historic high. Previously, according to Wu Shuo Blockchain News, the reason for the counter-trend growth in trading volume on the OKX NFT market may be related to its zero fees and the good user experience provided by OKX Web3 Wallet.
The OKX NFT market is a zero-fee multi-chain aggregation platform that combines creation, collection, and trading functions. Besides Tensor, it has already aggregated orders from mainstream NFT platforms such as OpenSea, Magic Eden, LooksRare, IMX Official, Element, Blur, making it one of the most comprehensive NFT platforms in the current market.
2. OKX DEX Ethereum daily users doubled, aggregated DEX quantity doubled
According to DUNE data, the number of OKX DEX users has experienced explosive growth since April this year. The daily number of addresses on the Ethereum chain has increased from 12,205 at the beginning of the year to 28,383 in June, an increase of over 130%. In addition, the number of aggregated DEX on OKX DEX has increased from 100+ to 300+, a growth of over 200%, and the number of cross-chain bridges has increased from 3+ to 15+; the number of supported public chains has increased from 10+ to 20+.
OKX Web3 Wallet DEX section is the most powerful DEX and cross-chain aggregator, aggregating 10+ cross-chains, 20+ public chains, 300+ DEX, and 300W+ currencies. X Routing implements smart routing to simultaneously use multiple DEX for a transaction, providing users with the best price and zero transaction fees. It also has convenient features such as DEX market section, limit orders, perpetual contracts, KYT security checks, etc.
3. OKX Cryptopedia Fifth Edition Event attracted over 1 million participants in 5 days
OKX Cryptopedia has launched a series of interactive activities, including zkSync, SuiSwap, Fusionist, and Sui, attracting a record-breaking number of participants. According to Lifeform's official Twitter, the fifth edition of OKX Cryptopedia has already attracted over 1 million participants in just five days. Previously, Wu Shuo reported that the fourth edition of OKX Cryptopedia had caused slow transactions on the Sui chain. According to SuiVision data, on June 4th, there were 273,000 transaction blocks on the Sui chain, with nearly 54,000 active accounts, setting a new peak.
OKX Cryptopedia is an all-in-one DApp exploration, learning, and reward interactive platform. The platform regularly launches activities with different blockchain networks as themes and sets interactive tasks for DApps in collaboration with partners. Cryptopedia aims to discover and aggregate potential projects, lower the barrier to entry into Web3, reduce user search costs, and enable precise interaction even in fragmented time. In addition, participants in the interaction may be eligible for rewards from the corresponding network and DApps, and users holding NFTs will have the opportunity to receive additional rewards.
IV. OKX Wallet Supports Over 70+ Public Chains
OKX Wallet has added support for networks such as Mantle, Base, WAX, Linea, Scroll, and Conflux Network. The number of supported public chains has increased from 40+ at the beginning of the year to 70+, covering the most comprehensive popular ecosystems.
OKX Web3 Wallet is the most comprehensive heterogeneous multi-chain wallet, with unified mobile app, browser extension, and web version. It covers wallet, DEX, DeFi, NFT marketplace, and DApp exploration in 5 major sections. It also supports Ordinals market, creation of MPC and AA smart contract wallets, gas exchange, backup of mnemonic phrase to iCloud/Google Drive, custom networks, and connection to hardware wallets.
V. OKX Ordinals Market has the highest market share of 83.3%
According to Dune data, since the launch of OKX Web3 Wallet's Ordinals market on May 23rd, its market share has continuously expanded from 0.3%. Especially on July 12th, OKX Ordinals market share reached a peak of 83.3%, almost monopolizing the Bitcoin Ordinals ecosystem. As of September 5th, OKX Ordinals market share has dropped to 34.2%, second only to unisat's 45%, ranking second.
OKX Web3 Wallet is the first multi-chain wallet that supports the Ordinals market. OKX Ordinals market is fully decentralized, with no platform service fees for transactions, and supports one-stop transfer, trading, and engraving of BRC-20 and BTC NFT. In addition, OKX Web3 Wallet is also the first multi-chain wallet that supports Bitcoin and BRC-20 token staking, and previously launched the first BRC-20 browser and published the BRC 20-S standard proposal to introduce a staking mechanism to the BTC ecosystem.
VI. KYT Eye Security System with 300 million+ On-chain Address Labels
OKX Web3 Wallet has the most powerful KYT Eye Security System, currently with over 300 million on-chain address labels. It can help users detect and automatically alert for risk addresses during transaction transfers or contract interactions. In addition, it also supports users in easy management of risk contract authorizations and regular risk clean-up, etc.
In addition, OKX Web3 Wallet achieves the most comprehensive means of mnemonic/ private key backup through multiple methods such as iCloud/Google Drive cloud storage, manual backup, and hardware wallet, ensuring the security of user private keys. By supporting the most comprehensive hardware wallets such as Ledger and Keystone, it ensures that users have control over their private keys.
VII. OKX Web3 Wallet has completed 4 open source projects
In the past half year, OKX Web3 Wallet has completed a series of open source projects, including BRC20-S standard, multi-chain signature SDK, MPC core algorithm, and AA wallet code. Through continuous open source actions, it leads the wallet industry in terms of security and transparency, and contributes to the industry's development.
In addition to the Web3 Wallet, OKX also leads the industry in terms of security and transparency in the CeFi business. On August 30th, OKX officially released its 10th Proof of Reserves (PoR), with the reserve rates of 22 listed coins all exceeding 100%. OKX is committed to elevating the transparency of PoR to the standards of traditional financial audits and is one of the few mainstream crypto exchanges that publishes reserve proofs on a monthly basis. The current POR system has been upgraded with innovative technologies like zk-STARK, allowing users to independently verify OKX's solvency at any time.
