After the transition from proof-of-work (PoW) to proof-of-stake (PoS), Ethereum’s annual issuance rate has been reduced to negative 0.057%, according to statistics 158 days after The Merge. The metrics indicate that more ethereum tokens have been removed than issued, and if the chain were still under PoW consensus, 1,823,678 ether would have been minted to…
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While the stablecoin market has seen significant redemptions in the past three months, the supply of tether, the largest stablecoin by market capitalization, has increased by 2.46 billion since mid-November 2022. Tether is the only one of the top five stablecoins by market valuation that has seen a supply increase in the past three months.…
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Protocol Labs CEO Juan Benet published a blog post on Friday announcing that 21% of the company’s staff will be laid off. Protocol Labs is the creator of the blockchain network Filecoin. Benet emphasized in the blog post that it has been an “extremely challenging economic downturn, worldwide, and especially in the crypto industry.” Protocol…
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Non-fungible token (NFT) assets have existed since at least 2014, but interest in them began to rise in January 2021, according to Google Trends data. Approximately one year later, the search term “NFT” reached its highest score on Google Trends. During that time the top five NFT collections, in terms of all-time sales volume, have…
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On Jan. 21, 2023, the price of bitcoin reached a 24-hour high of $23,333 per unit at 5 a.m. Eastern Time on Saturday. The entire crypto-economy is now valued at $1.05 trillion after rising 7.2% against the U.S. dollar. Bitcoin’s price rise has led to the crypto asset’s dominance level surpassing the 40% region among…
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After the all-time cryptocurrency price highs in 2021, suffering through the Luna implosion of 2022 and watching countless crypto businesses go belly up, we’ve got a new entrant to the meme coin scene that launched on the Solana network. The crypto asset bonk inu (BONK) has a circulating token supply of around 41.5 trillion and…
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On Saturday, August 27, 2022, the global market capitalization of all the crypto assets in existence dropped under the $1 trillion mark and the leading crypto asset bitcoin slipped below the $20K region for the first time since mid-July. Crypto Economy Craters — More Than $240 Billion Erased in 13 Days Digital currency markets this…
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The $1.19 trillion crypto economy is now lower in value than the lows recorded in July 2021. During the last week, digital currencies like bitcoin, ethereum, caradano, and xrp, have shed significant value against the U.S. dollar, as the top cryptos have lost 50% to more than 80% from their all-time price highs. How Low…
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While bitcoin has lost more than 16% in value against the U.S. dollar during the past 30 days, the cryptocurrency’s market capitalization is still the world’s tenth-largest asset by market valuation. With $603 billion in market value, bitcoin is above Meta’s (formally Facebook) capitalization and just below Berkshire Hathaway’s overall valuation.
Despite Losing Over 16%…
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Since last week’s Terra implosion and the demise of the blockchain project’s native token LUNA — and the algorithmic stablecoin terrausd (UST) — crypto tokens based on the Cosmos ecosystem have seen significant losses. Two months ago, the top Cosmos ecosystem coins collectively were worth $61.6 billion and since then, the Cosmos economy has lost…
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