Coinstack

We’re still early in the on-chain adoption cycle-DeFi users only represent around 2.3% of total unique Ethereum addresses

Since the hash rate dip, it has swiftly recovered in just a few months and just this week, it hit 248M TH/s hash rate, the highest it has ever been. This means that the number of miners has been growing even as some move out of China. This spike could be a result of miners finishing the migration of their farms from China to other countries and starting to operate again.

🗞️ This week's Coinstack newsletter has just been published... https://coinstack.substack.com/p/this-week-in-crypto-45d

Ethereum total revenue has been over $14.7 million for 180 days in a row.

Polygon sees the highest net staking inflows with a 4.6% increase in the past week compared to other chains.

TVL in the DeFi space increased from $18B to $250B in 2021

FRAX stablecoin supply has seen 5.6x growth and a 50% average MoM growth rate over the last 6 months.

Here is a must read updated report on Ethereum from SquidChaos: https://squish.substack.com/p/the-triple-halving-where-we-stand

Land prices in both Sandbox and Decentraland have risen considerably since Facebook’s Meta rebrand announcement on Oct 28th. Sandbox land prices increased ~445% between October 2021 and January 2022.

For the first time in over a month, all crypto sectors have finished with double digit positive returns.

Arweave, NEAR, and ENS have seen the largest uptick in fees/yield generated in the last 7 days.

Maker DAO remains as the most popular DeFi lending platform

🎧 New Podcast Episode: This Week in Crypto: (Jump Trading Backstops Wormhole’s $320M Exploit, US Government Seizes $3.6 Billion in Bitcoin, EU Weighs Potential Metaverse Regulation) https://anchor.fm/coinstack/episodes/This-Week-in-Crypto-Jump-Trading-Backstops-Wormholes-320M-Exploit--US-Government-Seizes-3-6-Billion-in-Bitcoin--EU-Weighs-Potential-Metaverse-Regulation-e1e7b2n

🗞️ The weekly Coinstack newsletter is out: https://coinstack.substack.com/p/this-week-in-crypto-0d6

US crypto lobbying expenditure doubles in 2021

NFT activity accounted for over 40% of ETH being burnt in the last month

The Mayer Multiple calculates the ratio between price and the 200-day moving average. The Mayer Multiple traded below 0.8 this week, representing a 20%+ discount relative to the 200-day moving average signaling a potential bottom for the crypto market.

BTC showing support with 12% of supply now sitting between the $36.2k and $41.2k price range.

More than $25B of assets has gone into Ethereum bridges in the last year.

The Fear & Greed Index for Ethereum reaches neutral as ETH’s price crosses $3.1k today.