OKX Blockdream Ventures Monthly Report May 2022
Crypto Market & Investment Insights
- Institutions evade fluctuation and risk.
Market Insights: The total amount of funds raised in May was 1.43 billion, with a month-on-month decrease of 78.6%.
28.8 billion was raised in the first five months of 2022, compared with 7.85 billion in 2021, with a year-on-year increase of +291.46%
As for the number of investments, The sum of investments in May was 82, with a year-on-year decrease of 66.3%; it was the lowest month since April 2021. The quantity of Web3, infrastructure and NFT fields are 37, 12 and 15 respectively, which are the largest three fields.
Despite the tumble market, institutional investors have raised sufficient funds. A16z announced a $4.5 billion fundraising for crypto and blockchain startups, totaling over $7.6 billion.
Blockdream Ventures Outlook:
According to the data, institutional investors seem to evade fluctuations and risks, retain funds, and prepare for more accurate investment. Start-up teams can keep polishing the products with more confidence.
The on-chain metrics of BTC and ETH are still relatively healthy
According to Glassnode in May, Bitcoin’s on-chain fundamental metrics are below: Number of Active Addresses (monthly) in May was 16.99 million, with an increase of 3.8% compared to 16.36 million in April Number of Transactions (monthly) in May was 8.05 million, with an increase of 2.94% compared to 7.82 million in April Total Transaction Fees [BTC] in May was 517.7 , with an increase of 65.8% compared to 312.2 in April The number of addresses holding more than 0.1 btc hit a record high of 10.06miillion, compared to 285w 3 years ago. Bitcoin’s overall network activity remains healthy and growing.
Ethereum’s on-chain fundamentals remain strong. Number of Active Addresses (monthly) in May was 7.22 million, with an increase of 9.23% compared to 6.61 million in April. Number of Transfers (monthly) in May was 17.5 million, with an increase of 1.92% compared to 17.17 million in April. Mean Transaction Gas Price in May was 67.9 Gwei, with an increase of 23.9% compared to 54.8 Gwei in April. Ethereum’s overall network activity remains healthy.
Blockdream Ventures Outlook :
The on-chain metrics of BTC and ETH are still relatively healthy, and the real users of the blockchain are still growing steadily, which represents the healthy growth of the industry.
2. Explosive growth of NFT spurred NFT marketplaces
The explosion of NFT spurs many marketplaces, not only the comprehensive market but also subdivided fields focusing on art, music, photography, sports, games, etc. According to OKLink, by June 1, 2022 , the total market cap of NFT marketplaces was $16.972 billion, an explosive growth of 533 times compared to $31.7781 million two years ago. The competition among top 15 NFT marketplaces is intense as usual. OpenSea still occupies more than 40% market share, but the popularity of individual NFT projects does bring opportunities to competing chains and marketplaces.
Blockdream Ventures Outlook:
Besides the marketplace, there are several NFT-related problems that need to be solved, such as high-entry barriers, low transaction accuracy, low capital utilization and inadequate price discovery mechanism. OKX Blockdream Venture will keep eyes on NFT areas, especially aggregators, lending protocols, fragmentation, oracles and derivatives.
About OKX Blockdream Ventures
OKX Blockdream Ventures is the investment arm of the world-leading global cryptocurrency trading platform OKX.
We help entrepreneurs build great companies, supporting cutting-edge blockchain innovation and promoting the development of the global blockchain industry.
The initial capital of OKX Blockdream Ventures is USD 100 million. For all the record figures, more private market data, and deeper insights refer to full report