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| "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 |
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| Howdy investors!
What's the MOST important metric to look at for a blockchain?
For us, it's the number of active users on the blockchain. That's why we're sharing our reviews of the top blockchains with the most daily active users.
Additionally, the Fed is not only busy raising interest rates, it's also exploring tokenization. It has released a report highlighting the potential benefits and financial stability implications of digitizing real-world assets.
Finally, Binance, the world's largest crypto exchange, has officially sold off its Russian business to newcomer CommEx.
Let's jump in! |
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Top Blockchains With the Most Daily Active Users by Anatol Antonovici |
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| Investor Takeaway: For investors, Daily Active Users are like customers of a traditional company. A high number of DAUs indicates a thriving ecosystem, attracting more developers and users and creating a virtuous circle of growth and innovation. Here are the top blockchains by DAUs in 2023.
At Bitcoin Market Journal, we talk a lot about Daily Active Users (DAUs) ... and for good reason. As we’ve often pointed out, Daily Active Users (DAUs) is a critical metric reflecting the success and growth of a blockchain network. Still, most investors look at other metrics like price and market cap, ignoring DAUs.
For crypto investors, think of DAUs as customers. If DAUs are high (or growing rapidly), it means a “company” that's scaling up and potentially a great investment. If DAUs are low (or falling steadily over a period of several years), it's probably not worth your money. You can just read on to find out the best blockchains by DAU, including Tron, BNB Chain, NEAR Protocol, Ethereum, and bitcoin.
Read about the blockchains with the highest DAUs here >> |
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| Premium Power-Ups Level up your crypto investing game. |
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| Webinar: A Five-Year Review of Bitcoin Market Journal Scorecard Analysis
When we started our Blockchain Investor Scorecards in 2018, we saw them as a way to support research, due diligence, and investment best practices in crypto.
We even published our evaluation framework in an academic journal.
But the proof is always in the pudding. Simply put - do our scorecards work?
You're about to find out. |
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| Join us on Thursday, October 5th, 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. |
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| | | Must Read Today's most important stories for crypto investors. |
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| Investor takeaway: A new Federal Reserve paper examines tokenization's financial innovation in digital asset markets. This report highlights how tokenization can provide greater access to markets that are otherwise difficult to enter.
While the report discusses, frankly, the risks of tokenized assets, it also concludes that there are several benefits to tokenization, including lowering barriers to entry in "otherwise inaccessible markets." Not only is this a must-read for investors, but it's also a huge signal flare for how the Fed sees blockchain projects and DeFi as a mainstream financial asset class. |
| Investor takeaway: In a move claimed to revolve around compliance strategies, Binance has agreed to sell its Russian business assets to crypto exchange CommEx. The catch? CommEx is essentially unknown in the market, having launched operations on September 26th, 2023... which was (as of this email) yesterday.
Publicly, Binance has signaled that they have fully exited the Russian crypto market with no intention of returning. CommEx will not provide trading services and registration in areas like the United States, Belgium, or countries under sanctions.
For BNB investors, we see this as a good thing, as it could lead to better relations between Binance meeting the regulatory requirements of Western countries. |
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| Investor takeaway: Coin Metrics brings us another deeply researched piece thatdelves into the evolving landscape of bitcoin mining, highlighting the surge in bitcoin hash rates and the U.S.'s growing prominence in mining activities post-China's mining ban.
A major takeaway from this report is the depth of research it provides to inform decisions about investing in mining pools. Miners will most likely expect higher transparency around transactions, fees, and strategies. We could see new forms of decentralized governance in these markets, which can mean more stability overall. |
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BMJ Basics: How To Value Crypto Investments |
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Best Staking Rates The best rates for DeFi staking this week. |
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| Bitcoin Market Journal is a daily newsletter that makes you a better crypto investor. It's created by John Hargrave, Steve Walters, Gerald Jackson, Anatol Antonovici, Matthew Du, Daniel Joel, and Preetam Kaushik.
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