Crypto Weekly 1/2/2022
A weekly summary of the latest crypto news...
2021 REVIEW
- BTC ($47,137): +63%
- ETH ($3,724): +405%
- XRP ($0.84): +282%
- UNI ($18): +250%
- Crypto Market Cap ($2.2T): +190%
Top 10 Currencies / Mkt Cap
1. Bitcoin (BTC) / $892B
2. Ethereum (ETH) / $454B
3. Binance Coin (BNB) / $88B
4. Tether (USDT) / $78B
5. Solana (SOL) / $54B
6. Cardano (ADA) / $46B
7. USD Coin (USDC) / $42B
8. XRP (XRP) / $40B
9. Terra (LUNA) / $32B
10. Polkadot (DOT) / $29B
PRICE CHANGE: WTD/YTD
- BTC ($47,716): +0% / +0%
- ETH ($3,815): +2% / +2%
- XRP ($0.85): +1% / +1%
- UNI ($18): +5% / +5%
- Crypto Market Cap ($2.2T): +1% / +1%
- BTC Dominance: 40%
- ETH Dominance: 20%
STABLECOIN MARKET CAP CHANGE: WTD/YTD
- Tether ($78B): +0% / +0%
- USDC ($42B): +0% / +0%
NFT 3M TRADING VOLUMES
THIS WEEK IN CRYPTO
- There are over 71 million Ethereum addresses holding some amount of ETH, up 28% from 51 million in 2020. Link. Tweet.
- Cryptocurrency was the most viewed topic on Reddit in 2021. r/dogecoin was the most popular subreddit. The word "crypto" was mentioned 6.6 million times across the platform. Link.
- BTC and ETH futures had over $32 trillion in combined trading volumes in 2021, a 338% increase from 2020 when volumes were $7 trillion. Link.
- NFT trading volume passed $13 billion in 2021, led by OpenSea which made up nearly 88% of volumes. Link.
- SEC commissioner Hester Peirce says she's expecting an increase in NFT use cases in 2022, meaning holders should stay aware of how those uses might dovetail with securities laws. Link.
- Ethereum scaling project Polygon had a "critical" vulnerability in its genesis contract, which could have allowed attackers to steal over 9.2 billion MATIC tokens (of its total 10 billion supply). The network did a silent hard-fork in December to fix the bug. Link.
- Grayscale Investments has $43.6 billion in crypto AUM, a 28% decline from $61 billion held in early November. Total AUM is still up 170% from the $16.4 billion held at the end of 2020. Link. Tweet.
- OpenDAO released free $SOS tokens to users who transacted on OpenSea before 12/23. 50% of SOS tokens were airdropped to OpenSea users, 20% will be kept for the DAO itself, 20% for staking incentives, and 10% for liquidity provider incentives. The DAO plans to use its treasury to compensate verified scam victims on OpenSea, support artists, and provide grants to developers. Over 200,000 users have claimed nearly 39 trillion SOS tokens, an amount worth almost $265 million. Link. Link.
- Following the launch of $SOS, GasDAO released $GAS tokens to nearly 650,000 Ethereum users who have spent over $1,559 in gas fees among other criteria. Only 26k users have claimed the token so far. Link.
- NFT marketplace OpenSea froze 16 NFTs of a user who fell victim to a phishing attack. The NFTs stolen included 8 Bored Apes and 7 Mutant Apes. Link.
- Crypto exchange Voyager Digital is facing a class-action lawsuit over hidden fees on trades. The lawsuit alleges that Voyager claims to be a commission-free platform, but employs various methods to essentially charge commission on all its trades like using a wide spread on its trades intentionally. Link.
- DeBank, a crypto wallet that provides access to DeFi services such as token swapping and portfolio tracking, raised $25 million at a $200 million valuation from Sequoia China. Link.
- Twitch co-founder Justin Kan launched Fractal, a gaming-focused marketplace built on Solana. Game companies can mint and drop gaming NFTs using Fractal, and players can trade NFTs on Fractal's p2p marketplace. The official launch came a week after a hacker linked to a fake minting site in the project's Discord and ran off with $150,000 worth of SOL. Link.
- Shiba Inu launched a beta of Doggy DAO, its initial effort to decentralize governance of the project. In this first phase stakeholders will decide on the crypto pairs available on ShibaSwap WOOF Pools. Link.
- Mexico's central bank plans to have its own digital currency in circulation by 2024. Link.
- Rapper Eminem purchased a Bored Ape Yacht Club NFT for 123.45 ETH (nearly $462k). Link.
- There was nearly $71 million of secondary trading of Mutant Ape Yacht Club NFTs over the last 7 days, a 500% increase wow. The average sale price jumped from 8 ETH (~$32k) to 12.3 ETH (~$50k), with a floor price of almost 10 ETH ($38k). Link.
- BlockbusterDAO is looking to buy Blockbuster from Dish Network for $5 million, and create a decentralized film streaming service with plans for movie financing and production down the line. BlockbusterDAO aims to raise the money by selling BlockbusterDAO NFTs for 0.13 ETH. Link. Tweet.