Coinstack

Over the last 10 days, it looks like Bitcoin on-chain data is telling the following story: -Smaller addresses are consistently stacking sats. -Mid size addresses have been relatively flat. -Whales have not jumped on the accumulation trend. SOURCE: https://twitter.com/ecoinometrics/status/1471515228517318660

Fed’s median forecast shows 3 rate hikes in 2022. The recent dip in the crypto market suggets the fed’s hawkish policy shift has already been priced in. Source: coindesk.com/markets/2021/12/15/bitcoins-decline-suggests-feds-hawkish-policy-shift-is-priced-in/

📰 The 2021 Crypto Year In Review Just Went Out... https://coinstack.substack.com/p/crypto-2021-in-review Crypto: 2021 in Review - Part One of Two - Ethereum’s Progress Toward Flipping Bitcoin - Solana, Terra, Avalanche, and Fantom Have Breakthrough Years - The Year of DeFi - Institutional Investment in Crypto Explodes - Ethereum Scaling Solutions Have Arrived and Are Working

📰 The weekly Coinstack newsletter is out: https://coinstack.substack.com/p/crypto-2021-in-review Crypto: 2021 in Review This week we celebrate our first anniversary by doing our first annual recap of the biggest stories in crypto of 2021. A review of the top crypto stories of 2021 including DeFi, institutional investment, L2 scaling, and top L1 blockchains Bitcoin, Ethereum, Solana, Terra, Avalanche, and Fantom.

Bitcoin’s Fear and Greed Index shows investor sentiment declining, creating a buying opportunity for long-term holders.

After four years of work, the first five Polkadot parachains launch this Saturday 🚀

Retail Accumulation shows the 7-day change in holders of less than 1 BTC coin balance. The last time retail bought the dip this hard was at the bottom of the COVID crash, which sequentially led to the bull run of May 2021.

Since January 2020, holding Bitcoin would have increased your purchasing power by 520% making Bitcoin an excellent inflation hedge during covid.

Arweave showing the largest uptick in revenue with a 297% growth in 7d revenue trend.

Polygon’s network revenue increased 44% to $136k per day! Avg. cost per transaction last week was $0.035.

Bitcoin Fell -5.4% on the Month, Underperformance Compared to the +11.5% Median Return Historically Seen in November.

Here is the 2021 YTD Price Performance of Bitcoin vs. Ethereum. Ethereum is leading the way with a 448% return vs. Bitcoin at 70% as the smart contract platform continues to gain share over BTC.

Polygon hits ATH revenues ($948K/week), 353k DAU

Daily net emissions for Ethereum trended even lower in November as Ethereum app usage picked up. Ethereum set a new all time record for monthly revenues ($1.8B), leading to an increase level of token burn and supply reduction. At current run rates, Ethereum is on track to do over $20B in revenues in 2022. Once the conversion to PoS is complete mid-year, all those revenues will go to either reduce supply or be paid out to stakers as cash flow.

NFT Marketplace Magic Eden Users Transact ~6 Times per Day, on Average, Versus ~2 Times per Day on OpenSea

In regards to ZK-rollups, StarkEx currently has the highest total value locked (TVL) at nearly $1.3 billion, followed by Loopring (about $630 million) and zkSync (about $60 million)

BREAKING: Polygon acquires ZK-rollups startup Mir Protocol for $400 million. The deal follows Polygon's acquiring of Hermez Network for $250 million in August. https://www.theblockcrypto.com/post/126991/polygon-acquires-mir-protocol-400-million-zk-rollups

Avalanche has been rapidly growing their number of Monthly Active Wallet Addresses the last few months. The L1 blockchain has already passed the total for October just 9 days into December.

Who’s in Puerto Rico this week for Blockchain Week? We have an event on Thursday to share with everyone here.

Bitcoin is down 17.5% in the last 24 hours to $46k. Welcome to crypto, the most volatile asset class in the world.