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Axie Infinity’s Monthly Player Count Drops to Low Not Seen Since November 2020
23.1.2023
After recording $4.26 billion in total non-fungible token (NFT) sales, the play-to-earn game Axie Infinity’s monthly player count has dropped to levels not seen since November 2020, a period of 26 months. Despite the low player count, the project’s native token, AXS, has climbed...
Gemini’s Bitcoin Inflows From Other Exchanges Dropped to Roughly Six-Year Low, CryptoQuant Data Shows
19.1.2023
Gemini’s 30-day simple moving average of its BTC inflows from accounts on other exchanges suggest traders find Gemini less desirable than other exchanges
Bitcoin, Ethereum Technical Analysis: ETH, BTC Lower, US Retail Sales Slow
19.1.2023
Ethereum fell lower on Thursday, as cryptocurrency markets continued to react to the latest U.S. retail sales figures. Sales in the United States fell by more than expected, coming in 1.1% lower in December. Bitcoin also declined in today’s session, with prices falling below the $21,000...
NFT Sales Drop 59% in Second Week of 2023; Ethereum Dominates Top 20 Blockchains with 75% of Sales
15.1.2023
Non-fungible token (NFT) sales have dropped significantly in contrast to the seven days prior, as NFT sales are down 59.35% this week. During the past seven days, $208.68 million in NFT sales were recorded, with $157.20 stemming from the Ethereum blockchain. The top-selling NFT collection this past...
Decentralized Exchange Trading Volumes Remain Lackluster in the New Year, Uniswap Leads the Way with Daily Swaps
14.1.2023
According to statistics, decentralized exchange (dex) monthly trading volumes have dropped significantly since Jan. 2022. After a brief spike in volume in Nov. 2022, dex trade volumes have been lackluster for the past 44 days. As of Jan. 14, 2023, Uniswap version three (V3) has the highest trade...
Bitcoin, Ethereum Technical Analysis: BTC Hits 2-Month High, Climbing Above $19,000
13.1.2023
Bitcoin continued to trade higher on Jan. 13, with prices racing above the $19,000 level, hitting a two-month peak in the process. The latest surge comes as traders continued to react to Wednesday’s U.S. inflation report, which dropped to 6.5%. Ethereum also rose today, hitting a fresh...
Tron’s USDD Stablecoin Experiences Fluctuations Again, Drops Below $1 Parity in Early 2023
11.1.2023
The Tron-based stablecoin USDD fell below $1 parity again during the first week of 2023 and on Jan. 10. Four days ago, the stablecoin dropped to $0.972 per unit and on Tuesday, Jan. 10, 2023, USDD slipped to $0.977 per unit. At the time of writing, the Tron-issued stablecoin is trading at 98 cents...
Sberbank Analyst’s Editorial Delves Into the ‘Tremendous Potential’ of a BRICS Reserve Currency Fueling De-Dollarization
7.1.2023
During the last month, Russia’s ruble has dropped 16.48% against the U.S. dollar as energy and commodity prices have slowed over the last few weeks. Russia’s central bank revealed two weeks ago that it is further distancing itself from U.S. dollar dependence by purchasing the Chinese yuan...
Declining Interest Leads to Poor Market Performance for Ethereum Proof-of-Work Forks
3.1.2023
After transitioning from proof-of-work (PoW) to proof-of-stake (PoS), the Ethereum community saw the launch of two new PoW Ethereum forks: ethereumpow and ethereumfair. In the past four months, the value of both coins has dropped by 94.8% to 98.4% in U.S. dollars. PoW Ethereum Forks Ethereumpow...
Global Cryptocurrency Trade Volumes Saw a Significant Decline in December 2022
1.1.2023
According to statistics, daily cryptocurrency trade volumes have dropped significantly during Dec. 2022. On Jan. 1, data shows that $22.95 billion was traded in the last 24 hours, compared to double that amount, $54.78 billion, two weeks earlier. On November 8, 2022, 54 days prior, amid the...
Challenging Year for Bitcoin Miners as Fewer BTC Mining Rigs Are Profitable at Current Prices
31.12.2022
Bitcoin miners have had a challenging year as the network’s mining difficulty reached an all-time high and the spot market price of bitcoin dropped below the cost of production. Currently, with electricity costs at $0.07 per kilowatt-hour (kWh), only 18 application-specific integrated...
While His Digital Trading Cards Tumble in Value, Trump Says His ‘Cute’ NFTs Were About the Art
30.12.2022
After climbing to a high of 0.79 ether on Dec. 17, 2022, Donald Trump’s non-fungible tokens (NFTs) have dropped considerably in value over the last 12 days. On Dec. 29, 2022, Trump’s NFT collection has a floor value of 0.15 ether, which is around 81% lower than the floor value highs recorded last...
‘Ultra Sound’ Money — Simulation Shows Ethereum’s Inflation Rate Is Significantly Lower Using Proof-of-Stake
29.12.2022
Its been 105 days since Ethereum transitioned from a proof-of-work (PoW) blockchain to a proof-of-stake (PoS) network and the number of Ethereum validators is set to surpass 500,000 in 2023. According to metrics, Ethereum’s issuance rate of new coins has dropped considerably and only...
Bitcoin Hashrate Slides as Texas Miners Curtail Hashpower to Bolster the Grid
25.12.2022
Bitcoin’s total hashrate tapped a low of 170 exahash per second (EH/s) on Dec. 25, as reports noted that bitcoin miners in Texas curtailed their hashpower during a massive winter freeze. Statistics show that close to 100 exahash dropped off the network but rebounded from the 170 EH/s low to...
As the Fed Turns 109 Years Old, the US Dollar’s Purchasing Power Eroded by More Than 96% Since It Was Created
25.12.2022
109 years ago, the U.S. Federal Reserve was created and ever since that day, the purchasing power of the U.S. dollar has dropped a great deal. Since the Fed started, more than 96% of the greenback’s purchasing power has been erased via inflation. The Purchasing Power of the U.S. Dollar After...
Privacy Coins Take a Beating This Year Losing Over $6 Billion, Anonymity Takes a Back Seat to Defi, NFTs
24.12.2022
The last 12 months have been tough on digital currency investors as the crypto winter has caused a large sum of value to leave the once-bustling economy. The privacy coin economy, for instance, shed more than 55% against the U.S. dollar as it dropped from $11.7 billion in Jan. 2022 to the current...
Defi More Scalable Than Traditional Finance, New Study Says
22.12.2022
Despite the market conditions that prevailed in much of 2022, decentralized finance (defi) still demonstrated its greater scaling potential than that of the traditional financial industry, a new report has said. Even though the total value locked dropped from the peak of $180 billion in Dec. 2021...
Decentralized Finance Protocols Flounder as Value Locked in Defi Shed More Than 25% Since FTX Collapsed
12.12.2022
On December 12, 2022, the total value locked (TVL) in decentralized finance (defi) has been range bound after falling 25.5% from $55.94 billion on Nov. 5, to today’s $41.67 billion. Moreover, during the past 12 months, the TVL in defi dropped 82.56% from roughly $239 billion in Dec. 2021,...
Tron’s Stablecoin USDD Deviates From the $1 Peg, Justin Sun Says Team Deployed More Capital
12.12.2022
The Tron-based stablecoin USDD has once again dropped below the $1 parity to a low of $0.969 on Monday, Dec. 12, 2022. Amid the drop in USDD’s value, Tron founder Justin Sun tweeted that his team was “deploying more capital,” and the stablecoin’s web portal usdd.io claims the project...
Report: Chipper Cash Valuation Dropped to $1.25 Billion After it Secured Additional Funding From FTX
10.12.2022
After Chipper Cash ended 2021 as one of Africa’s most valued fintechs, the FTX-backed startup’s valuation dropped from $2 billion to $1.25 billion after it reportedly received a $35 million simple agreement for future equity (SAFE) grant from the now-collapsed crypto exchange FTX....