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That website and staking return rate look a little suspect. Typical rates are 4-5%. Be careful out there, lots of scams.
Correct, I got it in an email, clicked this in the email and it seems like a place advertising you to stake ETH there.
https://staking-ethereum.org/en/eth2/staking/
I would forward the email to you if there was a way to do it. Posted most of the text.
Nah, very earliest is mid year for ETH2.
25%APY for staking? I couldn't find any info on the official ethereum website. Would you please post a link for that snippet? Thanks
Lawmaker Takes Aim at Puerto Rico as Crypto Tax Haven
Rep. Nydia Velaquez called for tougher action against crypto millionaires using Puerto Rico as a tax shelter.
Jeff John Roberts
By Jeff John Roberts
Feb 8, 2022
3 min read
In brief
* A Congresswoman's comments reveal growing hostility to Puerto Rico's crypto millionaires.
* But it's unlikely that policy change will follow anytime soon.
Stories about crypto millionaires decamping to Puerto Rico have become commonplace in recent years. The island's attraction lies in its sandy beaches, mild climate—and its reputation as a place for U.S. residents to avoid paying taxes.
But not everyone is happy about this. On Tuesday, Brooklyn lawmaker Nydia Velazquez (D-NY) complained that Puerto Rico has become a haven for rich crypto speculators from the mainland—and asked a Treasury Department official if Congress could help "go after crypto investors trying to use Puerto Rico as a tax shelter."
Velazquez's comments came during a hearing of the House Financial Services Committee, which was examining the broader topic of stablecoins. The Congresswoman is originally from Puerto Rico and, like many who live in her New York City district, maintains strong ties with the island.
Her remarks elicited a strong reaction on Twitter, where many applauded her desire to go after people they portrayed as wealthy and unwanted interlopers. One attorney with a Puerto Rican flag in his profile complained of a "white supremacist fantasy of Puerto Rico without Puerto Ricans":
Others offered more nuanced takes, pointing out that the law attracting millionaires to Puerto Rico doesn't favor only crypto holders, but those looking for a tax shelter in general.
The law in question allows investors to claim no tax on capital gains—a huge potential benefit for Americans who live on the mainland and can face federal capital gains rates as high as 37 percent. But as some pointed out, taking advantage of the law involves more than just turning up in Puerto Rico:
Others have voiced similar cautions. In a recent essay, a Boston law firm points out that simply owning property in Puerto Rico is not enough to claim the tax exemptions and that, in any case, the law only applies to capital gains earned after a person moves to the island—meaning that someone who moved there in January would not be able to avoid taxes on crypto profits accrued during the boom of 2021. Meanwhile, Puerto Rico's governor approved a 2020 law that makes applying for the tax exemption more expensive.
It's unclear if Velazquez's comments will have any impact on U.S. or Puerto Rico tax policy, especially as the focus of Tuesday's hearing did not relate to Puerto Rico. But it could serve to warn wealthy crypto investors that the tax benefit may not exist forever—and that many on the island may not want them there in the first place.
https://decrypt.co/92437/puerto-rico-crypto-tax
Gotta go back to 28 first
Looks like ETH 2.0 is rolling out now??
The open-source roots of Ethereum have led to the growth of an interesting new fundraising model: quadratic funding. This has the potential to improve the way we fund all types of public goods in the future.
Quadratic funding makes sure that the projects that receive the most funding are those with the most unique demand. In other words, projects that stand to improve the lives of most people. Investing back into the community while bringing forth Ethereum 2.0 sooner fits perfectly along with those ideals.
Truly yours,
V. Buterin
Bud Light partners with Nouns DAO for its upcoming Super Bowl ad
by Anushree Dave
February 7, 2022, 6:00AM EST · 1 min read
Beer giant Anheuser-Busch's Bud Light has partnered with Nouns DAO (a decentralized autonomous organization) for its Super Bowl ad airing on Sunday.
Bud Light's senior director of digital Corey Brown told The Block that the partnership will help the beer brand further authenticate itself in the NFT space. "As part of the partnership, Nouns has gifted Bud Light NEXT with a Nouns NFT in exchange for the famous Nouns glasses to be featured in our Super Bowl commercial," said Brown.
Nouns DAO is a generative NFT project on the Ethereum blockchain. Its avatars are based on nouns: people, places, and things.
The ad will be for Bud Light NEXT, Bud Light's new no-carb beer. Last month, the brand launched its first NFT project, Bud Light N3XT, featuring 12,722 unique tokens.
Working with the DAO will allow Bud Light to meet consumers where they are, according to Brown. "Similar to how Bud Light NEXT will provide us the opportunity to bring more fans into the Bud Light portfolio, the Bud Light N3XT Collection, our partnership with Nouns DAO and entry into the NFT space will allow us to engage with established and new fans in an entirely different way," he said.
https://www.theblockcrypto.com/linked/133113/bud-light-partners-with-nouns-dao-for-its-upcoming-super-bowl-ad?
CryptoPunks Controversy: Creators Apologize for 'V1' Ethereum NFT Sales
Larva Labs attracts fresh criticism around CryptoPunks after selling NFTs from a scrapped contract—and suggesting potential legal action.
Andrew Hayward
By Andrew Hayward
Feb 4, 2022
9 min read
In brief
* CryptoPunks creators Larva Labs apologized for selling old “V1”
CryptoPunks NFTs from a scrapped smart contract.
* The firm suggested potential legal action against the community-led
project, which “wraps” the discarded NFTs to make them functional.
Larva Labs’ CryptoPunks are considered by many to be the gold standard of Ethereum NFT profile pictures, with the collection generating billions of dollars in sales as Crypto Twitter’s preferred status symbol. However, its star may be fading somewhat due to recent events, and now Larva Labs is facing fresh scrutiny for its own actions.
When the CryptoPunks were first minted in 2017, a glitch in the original smart contract—the code that programs NFT collections and decentralized applications—prompted Larva Labs to scrap the first edition and reissue the NFTs. The second edition eventually became crypto-famous, with some $2 billion in trading volume to date, per CryptoSlam.
However, some of those “V1 CryptoPunks” NFTs have been “wrapped” via a community-made smart contract and reissued as ERC-721 Ethereum tokens, each with a different background color than the standard Punks. That makes it possible to sell the NFTs as historical relics—with interest and prices rising of late.
“This recovery of the original Punks smart contract is a community-led and rapidly-growing phenomenon consisting of original Punk claimants, NFT historians, digital archeologists, and extremely talented developers,” reads the unofficial V1 Punks website.
Larva Labs recently went on the offensive, suggesting that they weren’t “real” CryptoPunks NFTs. However, the creators were sending mixed messages, selling off dozens of their own V1 Punks while claiming that they shouldn’t be considered legitimate CryptoPunks.
“PSA: ‘V1 Punks’ are not official CryptoPunks,” Larva Labs tweeted on January 25. “We don't like them, and we've got 1,000 of them... so draw your own conclusions. Any proceeds will be used to purchase real CryptoPunks!”
On Wednesday, in a statement posted to the official Larva Labs discord, co-founder Matt Hall apologized for selling its own V1 Punks, calling the move “stupid” and a “bad decision.”
“We made a mistake by interacting with this contract,” Hall said of wrapping and selling the V1 CryptoPunks. “We thought that by announcing our intentions and selling some of the tokens, we would signal our distaste for it, and maybe others would follow. That was a bad decision. We regret it, and we apologize to the community.”
Hall said that Larva Labs generated 210 ETH (about $622,000 today) from the V1 NFT sales and used some of it to purchase one of the standard (V2) CryptoPunks. The team plans to spend the rest of the funds buying back additional CryptoPunks NFTs, and will also match the amount with a further 210 ETH donation to The Rainforest Foundation.
“We feel like we’ve had a well-principled approach to the CryptoPunks project from the very beginning up until the moment we did this stupid thing,” Hall added. “We’ve learned a hard lesson, but hope something good can come of it via this donation.”
CryptoPunks collapse?
Reactions to Larva Labs’ announcement have been widely negative. That continues a growing trend among some holders of the 10,000 CryptoPunks NFTs, as the community reckons with their place in the evolving NFT space, what utility (if any) they should provide, and what Larva Labs’ role should be in their future ahead.
In recent months, some CryptoPunks holders have complained about the state of the project, particularly the still-unclear extent to which holders can commercialize their owned image(s). Other complaints have come regarding Larva Labs’ increasingly hands-off approach, which stands in stark contrast to some newer, popular profile picture (PFP) projects.
The Bored Ape Yacht Club (BAYC) has rapidly become the other giant in the NFT space, and the differences between them are significant.
Bored Ape holders can use their owned images for any purpose—including merchandise, metaverse bands, and brand promotion—plus Yuga Labs has provided holders with additional free NFTs, exclusive merchandise and events, and more. It’s a private club loaded with perks and a public-facing avatar for social media cachet, no less.
Celebrities have recently flooded into the Bored Ape Yacht Club, as well, raising the NFTs’ mainstream profile—and quite likely their asking price too. In December, the floor price (or cheapest available NFT) for Bored Apes passed that of CryptoPunks for the first time, and the gap has only widened of late.
As of this writing, the Bored Ape floor sits above 100 ETH ($294,000) compared to CryptoPunks at 69 ETH ($203,000). CryptoPunks trading volume also dropped 28% from December 2020 to January 2021, per data from CryptoSlam, despite a wider NFT market upswing.
Also in December, notable NFT collector and Nouns project co-creator 4156 sold his namesake CryptoPunks NFT for $10.26 million worth of ETH. He decided to exit the project due to Larva Labs’ handling of the IP rights situation, including attempts to remove unofficial derivative projects via DMCA takedown requests—such as the reverse-facing CryptoPhunks.
Larva strikes back
That last detail is key, because in yesterday’s statement, Hall hinted that Larva Labs will pursue some kind of legal action around the Wrapped V1 CryptoPunks.
“We originally didn’t go after the V1 project for copyright infringement of both the art and the CryptoPunks name, because we didn’t want to give it any additional attention,” he wrote, “but now many CryptoPunks owners have called for us to take action, and we agree with them.”
“Let there be no confusion about the legitimacy of this ‘V1’ project,” Hall continued. “It has no right to use the art or the name. We will be taking appropriate steps in the coming days.”
What that move might look like is currently unclear. Larva Labs could potentially issue DMCA takedown notices against marketplaces OpenSea and LooksRare for letting users trade the NFTs, for example, or target the V1 Punks marketplace website or that of the smart contract used to wrap V1 Punks. Decrypt reached out to Larva Labs for comment, but we did not hear back.
Hall’s announcement regarding the V1 project—particularly with the suggestion of legal action after Larva itself sold wrapped NFTs from it—has been met with vocal criticism from holders. Some see the move as being anti-community, anti-blockchain, and anti-decentralization, continuing some of the other recent debates around CryptoPunks.
“I have never seen any team bungle a project with such desirable IP as Larva Labs has done with CryptoPunks,” collector DCinvestor tweeted. “At this point, I do think the move is to convey individual IP rights to ‘official’ Punk NFT holders à la BAYC. That’d nullify most of the mess they’ve created.”
Another prominent NFT collector, Anonymoux, tweeted a thread about their own personal saga with CryptoPunks—and the decision to sell and move on following Larva Labs’ disclosure. Anonymoux wrote that they had felt “anxiety” around the project recently, but that it “melted away” after choosing to depart the CryptoPunks collective.
“It is time to sell Punk #2311,” they wrote. “I wouldn't own stock in a company where the executives constantly tripped over their own feet. Not going to do it here either. Thank you Punks for playing a large part in my NFT journey.”
Will V1 thrive?
What about the Wrapped V1 CryptoPunks then? Larva Labs’ next moves are currently unclear, but the V1 NFTs remain available for purchase from marketplaces—and some collectors have made bets on their sustained or potentially expanding value ahead.
On Wednesday, prior to Larva Labs’ announcement, NFT investment fund Meta4 Capital announced that it purchased a pair of V1 CryptoPunks: one for 1,000 ETH (almost $2.8 million) and another for 200 ETH (about $556,000). Meta4 tweeted that the prices reflected an offer worth one-quarter of the estimated value for the “real” or V2 version of each Punk.
Meta4 Capital Managing Partner Brandon Buchanan told Decrypt via email on Thursday that he respects Larva Labs and its co-founders, Hall and John Watkinson, and their need to protect the IP and oversee the CryptoPunks ecosystem. He called them “thoughtful and innovative in a nascent asset class wherein rules and standards are mostly being made on the fly.”
Still, Buchanan doesn’t think the creators “should be concerned with being the arbiter of taste; let the market dictate taste or distaste as it may be.” Instead, he suggested that Larva Labs should focus on driving value to NFT holders and listening to the community. “Once Larva Labs and its holders are fully aligned, I think more value will be unlocked,” he added.
In its original Twitter thread, Meta4 Capital pointed to the history of defective versions of products commanding a premium on secondary markets. The V1 Punks are based on code that Larva Labs deployed to an immutable blockchain platform—it’s not a knockoff, even if Larva takes exception with the way that they’ve been brought back to life.
“This isn't really a copyright issue,” Buchanan suggested, “as they're trying to police secondary markets for an asset that had already been distributed and claimed.”
“There's a long history of collectibles (like comic books) having errors or being recalled, and they being sold on secondary markets,” he continued. “I view V1 Punks in that same sort of mode. I actually think this is an exciting development for Larva Labs, and the history/lineage should be embraced rather than repelled.”
Matt Sanders (a.k.a. M. Shadows), the singer of metal band Avenged Sevenfold and creator of the Deathbats Club NFT collection, likewise told Decrypt that he believes that both V1 and V2 CryptoPunks are “authentic and valuable in their own ways.” Like Meta4, he owns both V1 and V2 CryptoPunks.
Sanders likened the V1 Punks to a band’s demo recordings, which can help provide a historical record of art and develop the narrative around it. Some fans or collectors might even find the V1 or “demo” versions more meaningful, he said—but as a creator himself, he suggested that Larva Labs’ perspective on what constitutes “real” CryptoPunks should be honored.
“Most collectors will prefer the ‘official’ seal of authenticity of V2, which is what the original creators intended to be the final, published product,” said Sanders. “That distinction matters: it was the creators’ intention, which rightfully confers a certain status.”
https://decrypt.co/92155/cryptopunks-controversy-creators-apologize-v1-ethereum-nft?
Ethereum will always be big because of NFTs
Thats awesome. Thanks for sharing this.
$1B worth of ETH burned in the past 30 days due to record high OpenSea NFT transactions
February 01 2022 - 11:15AM
Cointelegraph
Despite the large burn value, the network is still inflationary until its PoS transition scheduled for Q2 or Q3.
https://ih.advfn.com/stock-market/COIN/ETHUSD/crypto-news/87157689/1b-worth-of-eth-burned-in-the-past-30-days-due-to
ZHIYUAN SUN
5 HOURS AGO
$1B worth of ETH burned in the past 30 days due to record high OpenSea NFT transactions
Despite the large burn value, the network is still inflationary until its PoS transition scheduled for Q2 or Q3.
According to blockchain data from Nansen Analytics on Tuesday, over $1.096 billion worth of Ethereum (ETH) has been burned in the past month. With the introduction of the EIP-1559 last August, a portion of fees is taken out of circulation for every transaction that occurs on the Ethereum blockchain. While sending and receiving ETH does not cost much, higher-level tasks, such as minting nonfungible tokens, or NFTs, via smart contracts, cost far more gas.
In January, the total volume of NFT transactions on OpenSea hit an all-time high of $3.5 billion. It currently ranks No.1 on a burn leaderboard compiled by Ultra Sound Money, with 65,778 ETH ($181.7 million) burned in the past 30 days. In second and third place were token burns from Ethereum transactions and factivity on decentralized exchange Uniswap (UNI), numbering 35,696 ETH ($98.6 million) and 24,223 ETH ($66.9 million), respectively.
However, Ethereum is still an inflationary blockchain network; the current issuance of 5.4 million ETH per year surpasses 3.5 million ETH burned. The supply of ETH will peak only after the removal of its proof-of-work mechanism via its transition to proof-of-stake, or PoS.
Once that happens, the total amount of new emissions will be less than that of token burns, resulting in a net deflationary network. The PoS transition, dubbed "the merge," will occur in the second or third quarter of this year. Before that, however, the network's total hash rate has still managed to reach a new all-time high. The Ethereum Foundation recently ditched the Eth 2.0 name in its rebrand. It is now called the consensus layer.
https://cointelegraph.com/news/1b-worth-of-eth-burned-in-the-past-30-days-due-to-record-high-opensea-nft-transactions
How's that working out for you'
lol
e
Why Layer 2s are the future
An interview with one of the top minds exploring Ethereum's scalability
Ryan Sean Adams
?? This is an interview between David Hoffman and Polynya—an anonymous Ethereum and crypto researcher publishing some of the best thinking on Layer 2s, zk-rollups, and the world of Web3.
https://newsletter.banklesshq.com/p/why-layer-2s-are-the-future
Ethereum Founder Vitalik Buterin Will Get Back $100M of Donated SHIB Funds[Interesting, IMHO]
By Andrew Hayward
Jan 28, 2022
3 min read
The Ethereum founder will use the funds for “very-high-value” bets in biotech and medical science after Indian charity faces hurdles.
Andrew Hayward
In brief
* Ethereum founder Vitalik Buterin will receive $100 million in USDC stablecoin, pulled from the $1 billion worth of SHIB he donated in May 2021.
* Buterin will use the funds for biotech and medical science endeavors after the Indian charity faced issues with deploying crypto donations.
When the creators of popular meme token Shiba Inu (SHIB) sent half of the supply to Ethereum founder Vitalik Buterin in May 2021, he did something unexpected in turn: he donated about $1 billion worth to Indian COVID-19 relief fund, CryptoRelief, before “burning” the rest.
However, now $100 million of the donated funds will be sent back to Buterin. Today, CryptoRelief founder Sandeep Nailwal—also co-founder of Ethereum sidechain scaling solution Polygon—announced that the funds will be returned to Buterin with his blessing.
In a Twitter thread, Nailwal explained that Buterin can use the funds more effectively for charitable aims as a non-Indian citizen. CryptoRelief has to be “extra cautious” to stay in “full compliance of Indian jurisdiction,” and Nailwal wrote that as a non-resident Indian citizen, he has likewise has to be cautious about which projects receive donations from the organization.
“Vitalik being a non-Indian can do it in a more accelerated way by being able to do faster decision-making,” Nailwal wrote, “and deploying to projects which have higher risk but high rewards too.”
Nailwal added that Buterin’s original donation made up 98% of the organization’s total contributions, and that $100 million of the remaining funds will be sent back in the USDC stablecoin. Buterin added that he has co-founded a new organization called Balvi, and will work with scientific advisors to focus on biotechnology and medical science-related causes.
Interestingly, the $100 million may not be pointed to causes that focus exclusively on India. Buterin said that his new organization will focus on bets that are “very-high-value and global in nature and bring great benefit to Indians and non-Indians.” He mentioned vaccine research and development, testing, and air filtration and ventilation as potential focuses for the funds.
According to Nailwal, CryptoRelief has disbursed about $70 million worth of funds within India, and retains $302 million worth outside of the $100 million that will be sent back to Buterin.
That’s quite a bit less than the original ~$1 billion value when Buterin donated the 50 trillion SHIB back in May. However, the value of SHIB fell dramatically following the donation—in part due to the wider crypto market crash that began that month—thus cutting the overall value of the donation once converted from SHIB into other coins, such as ETH or USDC.
The CryptoRelief website provides an accounting of previous fund transfers, current balances, and how funds have been deployed to various causes and relief projects. Bloomberg reported in July that CryptoRelief had faced challenges in deploying the funds due to regulatory compliance issues, paired with the complexities of disbursing crypto funds.
Last week, on the Up Only podcast, Buterin discussed the process of handling nearly $7 billion in total worth of SHIB. He donated a portion of the tokens to CryptoRelief and “burned” the rest, or sent them to an unusable crypto wallet address.
SHIB, the second most-valuable meme crypto by market cap after Dogecoin, later surged in value last fall, reaching a peak price of $0.00008616 on October 28, per data from CoinGecko. It’s down almost 76% at a current price of $0.00002101 following recent market-wide declines.
https://decrypt.co/91476/ethereum-vitalik-buterin-get-back-100m-donated-shib?&utm_medium=referral&utm_campaign=feed&utm_source=coinbase
$ETHE Nice Volume Spike There At The Close Today! Add More $ETH Premium World Computer! @SaturnProtocol Go Longs!
Stablecoin Boosts, LTHs in Pain, ETH Burns in Jan, Genie vs Gem
Jan 26, 2022 · 3 min read
By Joo Kian
* Despite the current volatile environment, the stablecoin supply has grown by $5.3B over the past month. The ebbs and flows in stablecoin supply are primarily caused by USDC’s massive mints and burns.
* USDC’s growth has recently become more pronounced, surging by $5.2B in supply in the last month. Meanwhile, USDT only grew by $700M. BUSD has contracted by -$600m over the past month. This can be a sign of money entering the markets as more USD gets used to mint stablecoins.
* In our previous daily, we highlighted how USDC supply overtook USDT supply on Ethereum. The shift of stablecoin preference from USDT to USDC is growing more evident. But time will tell if USDC can dethrone USDT as the top stablecoin.
Long-Term Holders Feeling the Pain
* Long-Term Holders started going into loss as BTC tested the lows of $35k. LTHs in loss surged to 17% of all holders, which was last seen in May 2020 (circled in yellow). Alongside this, STHs are mostly in losses, which was last seen at the BTC bottom of July 2021.
* Historically, it’s been a sign that the bottom may be in when both STHs and LTHs peak in losses.
* Note: Long Term Holder is defined as UTXO with a minimum lifespan of 155 days a Long Term Holder (LTH). Short Term Holders (STHs) are defined by all UTXOs with a lifespan of fewer than 155 days.
ETH Burns, Lowest Emission Month Incoming
* Ethereum burns from EIP-1559 flared up in the month so far, resulting in the largest daily deflation of -6823 ETH on January 10th. Comparing January’s ETH emissions to previous months, it’s clear that this month’s emissions are trending heavily towards a net burn.
* OpenSea and NFTs played a large role in propping up transaction numbers and the volatility across crypto. In turn, this led to more token movements and swaps, further increasing this month’s burn. January 2022 is on its way to be the lowest ETH-emitting month since EIP-1559.
Rub the Genie Lamp, A Challenger Arrives
* The NFT Aggregator competition has been heating up. Genie and Gem are two NFT aggregator platforms making it easy to shop and purchase across a number of NFT marketplaces. They also provide the ability to bulk purchase NFTs in a single transaction, making it easy to sweep the floors of your favorite NFT project.
* Being the first mover, Genie has already gotten a userbase and a rather consistent volume. However, since Gem’s launch, we can see that Gem is catching up to Genie in daily volume. Gem’s daily transaction is also slowly catching up to Genie’s, at around 50% of Genie’s daily transactions.
* Gem also optimizes gas for you, even for single orders of just 1 NFT.
Notable Tweets
https://members.delphidigital.io/reports/stablecoin-boosts-lths-in-pain-eth-burns-in-jan-genie-vs-gem/
Messaging App May Bolster NFT Market by Connecting Ethereum Users
Block explorer Etherscan has just launched Blockscan Chat, a messaging app that allows Ethereum users to chat with each other simply by connecting their wallets. Metamask and Wallet Connect are currently supported.
Even Vitalik is on the app, according to this tweet from Bankless founder Ryan Sean Adams.
https://thedefiant.io/blockscan-chat-ethereum/
ETHUSD: Crashing to $95.00 on global crypto ban
- IMF proposing ban
- IMF requesting El Salvador to disable bitcoin as legal tender
- Russia threatened ban
- China ban
- India threatened ban
- White House looking to ban
- FED central-bank-digital-currency (bitcoin replacement, while outlawing other cryptos)
And general investment markets collapsing
Get out while you can. Remain calm.
#ETHUSD (short)
$ETHUSD (short)
ETHUSD: Sold and re-shorted at $2575.00
$ETHUSD (short)
#ETHUSD (short)
$ETHE Another good RSI 10 Buy and 70 Rip! Go MoMo’$ Add More $ETH Premium World Computer! @SaturnProtocol Crypto Bulls
It depends on your entry, I’m in the green with $ETHE & $ETH
The whole house of cards is collapsing,
Yeah right after the fact - you can draw that trendline straight up the gazoo. News trumps charts.
Crypto Carnage
Newbies blew it
Veterans seen it comin'
https://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=coin
This morn already 3
LoLoLoL
Coinbase Pro to me is safer, but geez it seems this whole house of cards is collapsing,
Robinhood or Coinbase Pro
What do I need to do to buy this coin an you help me
MIGHT GO AS LOW AS $1600, EVEN MIGHT BE LOWER WITH FUNDAMENTALS
Geez just keeps dropping. I guess this vaporware is worthless after all.
World Computer @SaturnProtocol Baby $ETHE Pre Split Add More $ETH Premium GOLD PPP!
$ETHE Ethereum @Grayscale My Average Is So Low! Add More $ETH Premium House Money! Long & Strong!
ETHUSD: I just entered a long position at $2,500.00
Hodling for fibonacci retracement back to $3,333.33
$ETHUSD
#ETHUSD
Crypto job posts on LinkedIn rocketed 395% in 2021
JOSEPH HALL
8 HOURS AGO
Job postings with terms like “Bitcoin,” “Ethereum,” “blockchain” and “cryptocurrency” grew 395% in the United States last year.
It wasn’t just a bull run for prices last year. Careers in crypto outstripped price action in 2021, as crypto job searches soared by 395% in the United States alone, according to LinkedIn.
Crucially, the crypto industry outpaced the wider tech industry, which also saw remarkable development, almost doubling its number of job listings. However, at 98% growth, the tech industry dwindles in comparison to crypto jobs, which gained by a whopping 395%.
Furthermore, no industry was safe from “crypto-ization” in 2021. The LinkedIn News post offered valuable insight into crypto influencing other industries:
While most of the job postings were in software and finance, other industries are also seeing a rise in demand for crypto talent. These include professional services like accounting and consulting, as well as the staffing and computer hardware sectors.
For 2022, the growth trend looks set to continue. The biggest exchanges in crypto are brimming with job posts; Coinbase has over 250 openings, Kraken over 300, and the world’s most active exchange, Binance, lists more than 600 job posts.
For Bitcoiners and Bitcoin (BTC) maximalists, there is a new resource — Bitcoiner jobs. A service dedicated to helping connect Bitcoiners with Bitcoin-only companies, it now offers almost 100 Satoshi-approved careers.
For those who are unable to switch jobs into crypto, a wider HR trend is crypto remuneration. The mayors of New York and Miami announced that they would take a portion of their pay in BTC in 2021, while seven NFL players have chosen crypto over cash salaries to date.
Related: 3x NBA champion Andre Iguodala becomes the latest athlete to receive salary in crypto
Nonetheless, while the crypto career switch appears to be gaining traction, the LinkedIn audience is not convinced. Most comments on the LinkedIn post were from bewildered onlookers wondering why crypto has value, and one aggrieved copywriter remonstrated the industry’s scammy nature.
Plus, given that Bitcoin price action has yet to impress in 2022, the crypto industry may struggle to sustain such high human resources growth levels.
In the 2018 bear market, several cryptocurrency companies laid off staff. In sum, BTC activity needs to pick up to continue to support job creation.
https://ih.advfn.com/stock-market/COIN/ETHUSD/crypto-news/87031182/crypto-job-posts-on-linkedin-rocketed-395-in-2021
https://cointelegraph.com/news/crypto-job-posts-on-linkedin-rocketed-395-in-2021
USDC's supply on Ethereum surpasses that of rival USDT's for the first time
Yogita Khatri
January 14, 2022, 12:30PM EST · 2 min read
Quick Take
* The total supply of the USDC stablecoin on Ethereum has surpassed that of USDT’s for the first time.
* USDT’s total supply across blockchains, however, remains higher than that of USDC’s.
The total supply of the USDC stablecoin on the Ethereum blockchain has surpassed that of rival Tether's (USDT) for the first time.
The current total supply of USDC on Ethereum stands at 39.92 billion, whereas USDT's total supply on the blockchain stands at 39.82 billion, according to Etherscan.
USDC's supply beating USDT's on Ethereum is significant since the blockchain remains a major contributor of growth for both stablecoins. USDC and USDT are available on several blockchains, including Solana and Algorand.
DeFi and other factors driving growth
One of the main reasons for USDC's recent growth has been its increased usage in the decentralized finance (DeFi) market. Stablecoins are used for trading on decentralized exchanges and for various purposes within DeFi protocols.
Recent significant market moves also drove USDC’s growth, a Circle spokesperson told The Block.
"As digital asset markets trend up or down, both scenarios tend to generate increased demand for USDC — especially during significant market moves,” said the spokesperson.
When markets move up, increased interest from investors causes an increased demand for USDC as a way to bring fiat currency into crypto trading platforms. On the contrary, when markets go down, more traders are selling volatile assets into stablecoins like USDC, said the spokesperson.
USDT is different from its competitors "that rely mainly on DeFi platforms to boost their supply," Tether CTO Paolo Ardoino told The Block. USDT's demand is mainly driven by centralized exchange users and institutions, he said.
But with the recent bearish crypto market sentiment, USDT's demand from institutions has decreased, said Ardoino, adding that demand from retail investors, however, is growing from Turkey and several countries in Latin America.
Looking at the bigger picture, USDT's total supply across blockchain continues to remain higher than that of USDC's. The former's current total supply stands at over 82 billion, and the latter's stands at around 45 billion.
USDC's supply has been consistently increasing over the past several months, whereas USDT's supply has remained somewhat stagnant.
Ardoino said there is a "sufficient amount" of USDT in circulation.
Freezing funds
Tether has been increasingly freezing funds recently. Earlier this week, the stablecoin issuer blocked three Ethereum addresses holding over $160 million worth of USDT.
Regarding the freeze, Ardoino said, "Tether is cooperating with a law enforcement request, imposing a temporary freeze to allow the investigation to proceed."
Last month, Tether froze over $1 million worth of USDT belonging to a single blockchain address.
https://www.theblockcrypto.com/post/130342/usdc-supply-on-ethereum-surpasses-usdt-first-time?
Ethereum Q4 Report
Bankless Writer: Ben Giove, Bankless Analyst
This piece originally inspired by “Ethereum Announces First Quarter 2021 Results” by James Wang
Ethereum, the world’s largest smart contract platform, reported financial results for the fourth quarter and fiscal year ended December 31, 2021.
Protocol Summary
Numbers compare performance in Q4 2020 to Q4 2021
* Network Revenue rose 1,777% from $231.41 million to $4.34 billion. Network revenue refers to fees paid in ETH by users to transact on the network. Of this, $3.78 billion (87%) worth of ETH was “burned” and removed from the circulating supply through EIP-1559.
* Average Daily Active Addresses grew 35% from 425,636 to 572,700. This measures the average number of individual wallet addresses that interacted with the network each day over the course of the quarter.
* ETH Inflation Rate fell 64% from 1.13% to 0.46%. This tracks the increase in the supply of ETH, less burnt fees, as a result of the block reward issued to miners as compensation for confirming transactions.
* ETH Staked increased 471% from 1,545,486 to 8,818,933. This measures the amount of ETH Staked on the “Beacon Chain,” which eventually be merged with the current Ethereum network when it switches from Proof-Of-Work (PoW) to Proof-Of-Stake (PoS). About 7.40% of the total ETH supply is staked.
* Average Transaction Fee rose 557% from $4.09 to $26.89. This represents the average price paid per transaction by a user on the network.
Ecosystem Summary
Numbers compare performance in Q4 2020 to Q4 2021
* DeFi TVL grew 770% from $17.73 billion to $154.20 billion. This measures the value of assets deposited into Ethereum based DeFi applications.
* DEX Volumes rose 495% from $48.97 billion to $291.53 billion. This tracks trading volumes on Ethereum’s largest decentralized exchanges such as Uniswap, SushiSwap, and Curve.
* BTC on Ethereum grew 133% from 138,190 to 321,730. This represents Bitcoin that has been tokenized in various forms, such as wBTC, renBTC, and tBTC, with roughly 1.69% of the BTC supply now living on Ethereum.
* OpenSea Sales increased 50,078% from $71.57 million in $35.91 billion. This tracks the sales volume of the network's largest NFT marketplace.
* Layer 2 TVL increased 11,002% from $50.01 million to $5.55 billion. This measures the amount of value bridged from Etheruem into L2 scaling solutions such as Optimistic and ZK Rollups.
Ecosystem Highlights
Metaverse Mayhem
Partially overshadowed by the frenzy surrounding crypto-native projects, traditional companies, such as Microsoft, also announced their intention to foray into the metaverse. This sets the stage for an eventual showdown between the centrally planned and controlled metaverses of Web2, and the open, user-owned ones within Web3.
Rise of DeFi 2.0
Q4 was defined in part by an explosion in awareness and speculation surrounding the metaverse.
Catalyzed by Facebook’s announcement of their rebranding to “Meta” in October 2021, Q4 saw a parabolic rise in the prices of metaverse-related assets. This includes tokens used to govern and transact within virtual worlds, such as Decentraland (MANA) and The Sandbox (SAND), which saw their tokens appreciate 337% and 635% respectively in Q4. In addition, both projects experienced record-breaking land sales within their worlds, including purchases of $2.43 million for the former and $4.3 million for the latter.
The MVI, a basket of metaverse tokens created by Index Coop ended the quarter up 88% from October 1st to December 31st, 2021, while peaking at 197% in late November.
Another primary theme of Q4 was the rise of “DeFi 2.0.”
A term used to broadly describe the next generation of protocols and primitives, many of these projects place an emphasis on increased capital efficiency, liquidity, and treasury management, and pursuing aggressive growth strategies by deploying onto multiple chains and layer 2s. Along with their increasingly innovative designs, many of these protocols are entirely grassroots, not raising any money from traditional venture capitalists within the space. These projects have pushed the envelope of token design to reduce emissions and drive demand for their native asset.
There are several notable examples of DeFi 2.0 stealing the spotlight in Q4. This includes the rise of Frog Nation, whose ecosystem of protocols has amassed more than $7 billion in TVL, Olympus DAO, whose treasury holds more than $203 million in risk-free value and saw the launch of numerous forks during an “OHM Fork SZN,” as well as the merger of Fei Protocol and Rari Capital into TribeDAO.
Future Outlook
FY 2022 is shaping up to be a pivotal year for Ethereum.
At the protocol layer, Ethereum is expected to undergo the most significant network upgrade in its history in the form of the “merge,” which is expected to go through in Q2/Q3. This will consist of Ethereum replacing its Proof-Of-Work (PoW) consensus mechanism with Proof-Of-Stake (PoS), which will enable the network to drastically reduce its energy consumption, as well as the issuance of ETH needed to secure the network. In addition, the merge will also pave the way for sharding, which will enable Ethereum to more easily scale and fulfill its ambition of becoming a modular blockchain.
Despite the merge, Ethereum will face some major headwinds this year. This comes primarily in the form of scaling, as gas fees have priced out all but the wealthiest of users, and stiff competition from other ecosystems such Solana, Terra, Cosmos, Avalanche, and Fantom. Ethereum is in desperate need of a solution of its own if it hopes to maintain and grow its market share into the future. Thankfully, help may be arriving in the form of L2s such as Optimism, Arbitrum, zkSync, and StarkNet.
With token launches and incentive programs likely on the horizon for each of these scaling solutions, there is a strong possibility Ethereum will be able to capitalize on that momentum and utilize this newfound capacity to fuel growth.
Results Table [ link below includes charts]
About Ethereum
Ethereum is an open-source, decentralized blockchain network. Ethereum is a technology that's home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It's open to everyone, wherever you are in the world – all you need is the internet (Taken from the Ethereum.org website.)
About This Release
This release is not a release of Ethereum or the Ethereum foundation.
Action steps
?? Investigate the data yourself with Token Terminal, Etherscan, & The Block
?? Read The State of Ethereum | Q3 2021
?? Check out the original First Quarter 2021 Results
Author Bio
Ben Giove is an analyst for Bankless. He’s the former President of Chapman Crypto and an analyst for the Blockchain Education Network (BEN) Crypto Fund, a student-managed crypto fund built on Set Protocol. He’s also a proud member of the Bankless DAO and methodologist behind the GMI index.
https://newsletter.banklesshq.com/p/state-of-ethereum-q4-report
ETH-USD I'm BULLISH:
Ethereum futures and options data reflects traders’ mixed emotions on $3.2K ETH price
https://cointelegraph.com/news/ethereum-futures-and-options-data-reflects-traders-mixed-emotions-on-3-2k-eth-price via @cointelegraph
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