Coinstack

Convex now represents ~13% of the total TVL on Ethereum.

Convex Finance is the largest protocol ‘holder’ of veCRV and is on track to overtake all other protocols combined. With 47% of total supply this gives them the most governance power to decide where CRV incentives should be distributed.

2021 returns on Bitcoin came in at nearly 60%, while Ether shot up 387%. The S&P wasn’t so shabby, gaining shy of 28%.

Phantom Wallet is the Metamask equivalent in the Solana ecosystem. In just 9 months Phantom has grown to over 1.8M monthly active users with no sign of slowing down!

Happy New Year everyone. What are your crypto investing goals for 2022?

Loopring has seen the largest uptick in revenue trending in the last 7 days this week.

Uma, a protocol that allows users to create their own synthetic assets on Ethereum saw the biggest growth in TVL this past week.

In addition to its growing volume, Curve managed to become the most important DeFi protocol in terms of TVL. As of October 31st, 2021, Curve’s TVL has reached an impressive $19.3B, representing a more than 13x increase since the beginning of the year.

Over the last 12 months, the total volume of decentralized exchanges has soared to $980B, up more than 11x YoY.

After the introduction of Convex, and following a step-wise decrease in the daily inflation rate, this number has doubled to 63.7%. As such, Convex only strengthened the already powerful incentive to vote-lock CRV for users.

SushiSwap, Arbitrum’s Bridge, Uniswap, and Centre become the largest platforms on Arbitrum giving users cheaper gas fees on their favorite EVM Dapps

According to data from analytics company Visibrain, there were 101 million tweets containing the word “bitcoin” in 2021. This represents an increase of 350% from the volume recorded in 2020 showing increasing sentiment from retail and institutional investors worldwide. SOURCE: https://cryptoslate.com/there-were-more-than-100-million-tweets-mentioning-bitcoin-in-2021/

Bitcoin finishes the year with an ATH in hash-rate of 182 EH/s, closing out the year 27% higher, showing an increase in the use of the Bitcoin network.

A reasonably large volume cluster has been established in this weeks price range, equivalent to 2.214M BTC (11.7% of supply). This indicates that a non-trivial degree of demand has been mobilsed during the consolidation, with a large proportion of coins changing hands between $45k and $50k. This shows current investor sentiment for BTC’s price floor to be $45k.

According to Footprint Analytics, Arbitrum has contributed 41.88% of all Layer 2 TVL, totaling $2.25 billion as of Dec. 8. Arbitrum is now the leading player of all Layer 2 networks. SOURCE: https://cryptoslate.com/3-reasons-why-arbitrum-tvl-leads-in-ethereum-layer-2/

“The black line shows the correlation between bitcoin and the S&P 500, the index that represents the U.S. stock market. If equities are generally a risk-on bet (compared to bonds), then one would assume bitcoin would be highly correlated to the index or at least move in that direction. Except, well… no, it’s not. At its peak two months ago, the 90-day correlation coefficient between bitcoin and the S&P 500 peaked at around 0.31 indicating a weak correlation.” SOURCE: https://www.coindesk.com/markets/2021/12/26/why-portfolio-managers-will-need-to-look-at-altcoins-in-2022/

Adidas Originals: Into The Metaverse A lot of big brands tried to enter the NFT space through 2021, but Adidas seems one of the most committed. Into the Metaverse is a new NFT collection comprising virtual wearables that can be used on various platforms, with physical items to match! The project is a collaboration with several NFT communities like BAYC and Punks Comic. Firstly, the total supply is 30,000. So far, the project has done more than 16,000 sales, and over $50 Million in total volume. SOURCE: https://dunedigest.substack.com/p/dune-digest-11

The DeFi sector started an exponential growth curve in market capitalization, climbing from $21B to over $148B in 12 months (7x). DeFi’s market cap growth also outpaced wider market growth materially. DeFi’s ‘dominance’ made 3 new all-time-highs with the ratio now standing at 6.2%. SOURCE: https://decentralparkcapital.substack.com/p/2021-21-graphs-that-defined-the-year

Terra’s native stablecoin, UST just flipped DAI as the fourth largest stablecoin with a $9.2B market cap. UST experienced extreme growth of ~50x in 2021 and is the only decentralized stablecoin among the top 5.