As we close down the most explosive year in crypto's history and look forward to 2022, let's take a step back from the chaos and cryptic headlines and appreciate just how much the community has accomplished this year alone... - Despite the recent correction from $69k to today's ~$47k, many of you BTC holders are still in the green. BTC is up more than 40% YTD, marking its 3rd straight year (9th altogether) of absolutely whomping the S&P. ETH is up more than 270% YTD
- We had our first major crypto IPO with Coinbase (COIN) going public in April
- Financing for cryptocurrency-related companies soared in 2021 to roughly $25.1 billion
- We finally got approval for BTC ETFs. Although it's futures-based (and we recommended readers not to participate), it is still a start
- Web 3.0, NFTs, and DAOs are onboarding tens of thousands of new users to the crypto ecosystem
- El Salvador adopted Bitcoin as a legal tender
- The DeFi market value erupted more than 600%, to $163B, and total value locked (TVL) multiplied 12 times to $245B
- BTC survived a massive mining migration and numerous regulatory crackdowns in China
...and that's just what was on top of mind (we know, there's a lot missing).
But to officially wrap up 2021, what's better than the mad thoughts of SBF, founder of FTX. Read this thread to hear his insights on crypto's roadmap, where we are as an industry today, and where we want to be.
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A Simple & Short Guide (Not Only) For The Crypto Noobs |
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Matti from the Wrong A Lot blog and CoinSnacks have many things in common. We both (1) understand how difficult it can be to navigate the crypto space... (2) are skeptical of any crypto advice... and (3) believe that onboarding new users in the space is important.
The goal of Matti's latest post is to help relative newcomers make sense of the information overload in order to build a foundation that helps you to last in the space longer than just one bull market cycle.
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Cryptex Finance's first solution, TCAP, is an Ethereum-based DeFi protocol that tokenizes the market capitalization of all cryptocurrencies and tokens. Using real-time data from decentralized oracles, the price of the TCAP token is designed to follow the total market capitalization of ALL cryptocurrencies.
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Exploring Trading Volumes on Exchanges |
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We all know that crypto trading exploded this year... but by just how much? And how do centralized exchanges, those that hold users' private keys, stack up against Decentralized Exchanges (DEXs)?
According to data from The Block: - Centralized crypto exchanges reported more than $14 trillion in trading volume in 2021, a 689% increase from the reported $1.8 trillion in 2020.
- DEXs, on the other hand, reported more than $1 trillion in trading volumes in 2021, an 858% increase from the reported $115 billion in 2020.
Interestingly, both centralized and decentralized exchange volumes are dominated by a singular exchange. For centralized exchanges, Binance commanded over 67% of total volumes this year (more than $9.5 trillion) while decentralized exchanges were dominated by Uniswap with 75% of the market.
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Cobie, a long-time entertaining figure on Crypto Twitter, just published a batch of interesting reads on his blog... all of which, we wanted to quickly pass on:
Trading The Metagame: A great piece on crypto trends and the hot ball of money. A must read for all those who trade or invest in crypto.
Tokens In The Attention Economy: Another great piece on the intersection of crypto, NFTs, and the attention economy
Probabilistic Thinking: Even if you don't know what the exact probabilities of an outcome are, this framework leads to better outcomes more often than not.
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Arizona Senate Candidate Brings NFTs To Politics |
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Blake Masters, co-author “Zero to One” with Peter Thiel is running for a seat in the U.S. Senate for Arizona and he’s using NFTs to raise money.
Masters offered 99 copies of Zero to One as NFTs for $5,800 each. For that, donors received a signed copy of the book, access to a private Discord, and an invitation to a Zero to One token holders party.
We applaud any attempt to integrate crypto into traditional markets and you can bet that this will not be the last time we see something like this.
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