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Health, Wealth, and Happiness

October 4, 2023

"It’s good to have money and the things that money can buy, but it’s good, too, to check up once in a while and make sure that you haven’t lost the things that money can’t buy."

- George Lorimer

Howdy investors!

Last week, we looked into one of our favorite metrics - daily active users. There's another group, however, that we find important for the growth of any blockchain: the developers.

The developers are those who create all the features that encourage greater user adoption. They are the brains of blockchain.

That's why we're deep-diving into the Daily Active Developer metric.

In other news... we love data-driven analysis, and Coin Metrics is one of the best. Their latest Q3 State of the Market digs into the data surrounding all the big news on the crypto market in the third quarter.

Also, experts in the crypto sector are beginning to show concerns over rising Treasury yields, which are now at a 16-year high. We cover expert opinions on potential impacts between bond yields and cryptocurrencies.

Finally, the trial of Sam Bankman-Fried has kicked off. We're interested to see what new information emerges about FTX and Alameda.

Let's jump in!

Top Blockchains With the Most Daily Active Developers (DADs)

by Preetam Kaushik

Investor Takeaway: The spectacular market crash in 2022 resulted in $2 trillion in crypto losses. And yet, we only saw a marginal decrease in daily active developer counts between 2022 and 2023.As crypto winter leads to spring, this is another reason investors need to include DADs as a metric for fundamental research in crypto. Development and innovation are necessary for growth in crypto, and developers are the bellwether for both.

At Bitcoin Market Journal, we talk a lot about Daily Active Users (DAUs), and today, we'll look at a different type of daily active user: the developer.

These are the people actively creating the blockchains we use. And they are just as important to growth as the end-user. Developer contributions directly impact crypto projects' valuation, stability, and future. 

In this feature, we’re covering some of the central questions about DAD and its importance: 

• Who are daily active developers? 
• What role do they play in blockchain ecosystems? 
• What can crypto investors learn from a fundamental analysis of DAD metrics? 

Read about the blockchains with the most developer activity here >>

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TOMORROW at 6:30 pm ET: A Five-Year Review of Bitcoin Market Journal Scorecard Analysis

We've created dozens of Blockchain Investor Scorecards since we invented them and academically published them back in 2018.

But the big question is, do our scorecards work? Are higher-rated crypto tokens more likely to go up in price?

You're about to find out.

Join us tomorrow (Thursday, October 5th) at 6:30 pm ET to see the results of our research. In this members-only Zoom workshop, we'll cover our scorecard ratings and whether they've predicted higher token prices.

Premium Members: Click to reserve your spot before October 5th.

Not yet a Premium member? Sign up and get access to this exclusive webinar, as well as our library of scorecards.

Must Read

Today's most important stories for crypto investors.

State of the Network’s Q3 2023 Wrap-Up (Coin Metrics)

Investor takeaway: In their latest quarterly wrap-up,Coin Metrics investigates the influence of macroeconomic and regulatory shifts in the third quarter on the digital asset market.

They find the total crypto market capitalization dropped to $1.09T, a 10% decrease from July. While BTC and ETH saw significant gains, the anticipation for a U.S. spot bitcoin ETF grew, especially with BlackRock entering the fray. Stablecoins, particularly USDT and USDC, remained central to discussions.

Despite challenges, there's a positive outlook for the digital asset market, with potential catalysts like on-chain infrastructure adoption and the 2024 bitcoin halving on the horizon. This is a must-read for investors who want to catch up.

Crypto Experts Weigh in on the Impact of Rising Treasury Yields (Kitco)

Investor takeaway: The U.S. 10-year Treasury yield is above 4.765% for the first time since 2007, influenced by global economic conditions and a temporary U.S. government debt deal.

Mark Venables of The Crypto Merchant believes that the anticipated 2024 bull run will keep investors in crypto. Greg Magadini of Amberdata thinks higher yields might hinder bitcoin's growth in 2023, even with potential ETF approvals.

We're seeing this as a time for cautious optimism. Investors will want to pay attention to the relationship between bond yields and cryptocurrency performance. Balancing your portfolio to navigate both the traditional bond market and the volatile crypto space will be crucial in the coming months.

Sam Bankman-Fried: Trial of "Crypto King" Begins(BBC)

Investor takeaway: The trial of FTX founder Sam Bankman-Fried over allegations of one of the largest financial frauds in US history began on Tuesday. While he admits to poor record-keeping, he denies any intentional malfeasance. Several of his close associates have pleaded guilty and are expected to testify against him.

The outcome of this trial could influence future regulations and legal actions in the crypto industry. While this may cast some controversy on crypto in the mainstream, accountability is a good and necessary aspect of sound financial markets.

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Top Blockchains With the Most Daily Active Users (DAUs)

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(Technology) Winter Always Leads to Spring

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Click here to see our current staking yields, updated weekly.

We'll keep hodling; you keep buidling.

(Thanks to Kadeem Clarke)

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