December 29, 2021       /       Unchained Daily       /       Laura Shin

Daily Bits ✍️✍️✍️

  • Iran has banned crypto mining till March 6 with a notion to preserve energy.

  • Aave users can now borrow and lend the utilization of right world resources.

  • NFT trading quantity surpassed $13 billion in 2021.

  • Mutant Ape Yacht Membership gross sales skyrocketed 500% over the last week after a $3.6 million sale.

  • DeBank raised $25 million in an equity funding spherical.

  • $SOS, the lately airdropped token of OpenDAO, crossed a $250 million market cap the earlier day.

  • The Reserve Financial institution of India urged the issuance of a general CBDC.

  • It is now no longer going that a Thai CBDC will seemingly be released subsequent one year.

  • Phantom, a Solana-native pockets, halted plans to public sale off slots to take part in its iOS beta version of Phantom.

  • BitMEX’s first employee Greg Dwyer bought a seven-month extension to arrange for his trial.

  • Digital ledger technology is of hobby to the Secretary of Defense after President Joe Bide signed a $770 billion protection invoice into regulations the earlier day.

What Raze You Meme?

Screen Shot 2021 12 28 at 4.00.17 PM


What’s Poppin’?

One Year Makes a Big Distinction

With the one year winding down, the crypto news cycle has flooring to a cease. There hasn’t been a hack in seven days (which is a rare occurrence in a one year that has seen 57 exploits). No crypto firm has launched a carry of $50 million since December twenty first (despite the truth that 2021 had been averaging 2.39 such $50 million+ raises per week, in step with Dove Metrics). Heck, even patrons seem a shrimp bit unhurried, as info from The Block exhibits that day after day plight alternate quantity reached its lowest level since August the earlier day.

With that in solutions, perhaps it’s a correct time to zoom out and fabricate some perspective on merely how wide 2021 used to be within the enviornment of crypto. Listed below are three a shrimp bit solutions-blowing stats that stand out:

1. Based entirely on DeFi Llama, on January 1, 2021, the entire price locked all over all trim contract blockchains and DeFi applications used to be $18.71 billion. Twelve months later, TVL is at $248.3 billion – marking a 13x extend. The most hideous fragment of this statistic is that on January 1st, Etheruem dapps accounted for $18.41 billion of the $18.71 billion in TVL staunch thru the crypto ecosystem – leaving most efficient $300 million in TVL scattered all over other chains. Since then, that $300 million has ballooned to $93 billion – that methodology that non-Ethereum TVL has grown by roughly 310x.

2. NFTs. Any statistic you watch at is solutions-boggling. As an illustration, OpenSea’s monthly quantity in January of 2021 used to be roughly $8 million. In December, OpenSea has already seen $2.87 billion in quantity, in step with this chart on Dune Analytics. That is bigger than a 350x extend in one year. The same thing goes for OpenSea pockets process, which is a correct proxy for the number of addresses the utilization of the NFT market. On January 1, about 36,000 authentic addresses had interacted with OpenSea. As of the earlier day, info exhibits that over 850,000 addresses maintain made now no longer now no longer as much as one transaction on the NFT platform.

3. The metaverse is within the running for crypto phrase of the one year (alongside with NFT and web3). Out of the tip 100 tokens by market capitalization on CoinMarketCap, all three of the biggest gainers of the one year are metaverse tokens, with Axie Infinity’s AXS and The Sandbox’s SAND rising roughly 15,000%+ in one year. The substantial winner, which has now no longer caught on well-known publicity, used to be Gala (GALA), the token for Gala Video games, which elevated a whopping 45,000%+ in 2021. To set that in perspective, $100 dropped into AXS or Sand on January 1st, 2021 would now be worth spherical $15,000. $100 into GALA would be worth about $45,000. Along with to AXS and SAND, metaverse coins esteem Decentraland (MANA) and Enjin (ENJ) elevated by approximately 4,000% and 2,000%, respectively. (all info from CoinMarketCap.)

Honorable mentions:

  • Lightning Network development: from 1,054 BTC to 3,327 BTC

  • True how well-known $ has been misplaced to liquidations in 2021: the four worst liquidation days in 2021 saw a mixed 191,606 BTC worn out, worth roughly $9 billion

  • The amount of BTC now on company steadiness sheets: 36 publicly traded companies care for 1.156% of the entire BTC offer, when when put next with 2020, when most efficient MicroStrategy, Sq., and MassMutual held BTC

  • This could be a dishonorable model — the amount taken in crypto scams: $7.7 billion in 2021, up 81% when when put next with 2020, in step with Chainalysis


Urged Reads

  • FTX CEO Sam Bankman-Fried on crypto’s 2022 roadmap: https://twitter.com/SBF_FTX/plight/1475567126165532676
  • @cobie on the glory economy: https://cobie.substack.com/p/tokens-in-the-consideration-economy
  • True Vision’s Raoul Honest correct friend on the digital asset house: https://twitter.com/RaoulGMI/plight/1475856345270206468

On The Pod…

Why NFT OG Mitchell Chan Has Released True One Challenge This Year

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Mitchell F. Chan, who released one of the most well-known NFT projects on Ethereum relief in 2017, discusses his projects, making artwork on a blockchain, how NFTs are reworking the passe artwork world, and more. Mutter subject issues:

  • Mitchell’s artwork occupation earlier than NFTs

  • how Mitchell used to be impressed by Yves Klein’s 1950’s work ‘Zones of Immaterial Pictorial Sensibility’

  • the story within the aid of Mitchell’s OG NFT artwork project: ‘Digital Zones of Immaterial Pictorial Sensibility’

  • what the passe world thinks about NFTs

  • who is gathering NFT artwork

  • the story within the aid of Mitchell’s 2021 NFT project: ‘LeWitt Generator Generator’

  • why Mitchell has now no longer minted to any extent additional NFTs this one year – despite the truth that the market has been on hearth

  • whether or now no longer Mitchell thinks NFTs are changing the artwork world (worth: he thinks yes)

  • NFTs and the financialization of artwork

  • why Mitchell can empathize with one of the most backlash about NFTs coming from the passe artwork and gaming industries


Book Update

My book, The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze, is now on hand for pre-inform now.

The book, which is all about Ethereum and the 2017 ICO mania, comes out Feb. 22. Pre-inform it this present day!

That you just must to purchase it here: http://bit.ly/cryptopians