Because seriously, so far every time a strong dip happened or a crash came along I had already spent my available fiat in the mini-dip just before. Every. Time. Now again I spent my powder like a few days ago and damn, there is always so much month left after the end of the money.…
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If you're a momentum trader and you like trying to cash in on the volatility, crypto has a ton of opportunity and excitement for you. If you're a low sophistication investor, get the hell out of here until Tether and the other stable coins are sorted, audited, and proven. Not if, but when Tether…
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Decentralized finance (defi) protocols are having a hard time weathering the storm, as the total value locked in defi today is down 39.26% since April 3, from $230.18 billion to the current $139.81 billion. The sudden value drop stemming from Terra’s native assets, LUNA and UST, has pushed Lido down to the third-largest TVL position […]
NFT prices take a hit alongside the sharp correction in the crypto market and only time will tell whether the current downturn was a buying opportunity.
Terra is literally bringing down the major altcoins like Solana, Avalanche, Polkadot. The bloodbath looks like it’s not over and we might find these altcoins trading much lower. I wouldn’t be surprised to see Polkadot trading at $5/$6 within the next days, Solana at $40 and Avalanche at $20. The possibilities of going back to…
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I’ve been thinking about this question ever since Solana went down recently. As you may know Solana’s validators had to get in a discord chat to arrange to restart the system, which is seen by many as centralization. However some argue this is just coordination and there’s a distinction between coordination and centralization, which also…
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When I entered cryptomarket at early 2021, everyone was talking about how easily you can make a fortune just by buying the right coin. You will be rich they said. Just hodl. But few really knew how hard can it be to hodl through a market crash. Fewer even knew the toll it will take…
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Bitcoin sell-offs have been the order of the day since the weekend. This has translated to ever-decreasing prices for the digital asset. Another avenue where this has had an effect has been the miner fee revenues. Usually, these transaction fee revenues have been on the low side. But with the recent sell-offs triggering a surge in daily transaction volumes, the result has been more earnings for miners in terms of transaction fees. Bitcoin Daily Revenues Plummet Even though there has been a surge in miner fee revenues, the daily miner revenues have not gone up with it. Even with the increased on-chain activity, revenues have fallen short of the figures recorded for the previous week. Related Reading | Crypto Liquidations Reach $1 Billion As Sentiment Falls To 10-Month Lows The increased transaction volume has been a direct result of the high volatility that has been recorded in the market. As always, when volatility is this high, investors are usually moving their coins, mostly to sell off, to avoid taking more losses in the market. This saw daily transaction volume grow as high as 63.48% in the space of a week. The average transaction value had no doubt had the highest impact on this, which had increased by 66.38% in the same time period. BTC hashrate on the rise | Source: Arcane Research Daily transaction volume is now sitting at $8.3 billion, up from $5.06 billion the previous week. Daily miner revenues are down 9.17% from the prior week’s $37.28 billion to be sitting at $33.86 billion for the last week. Fees per day also saw a 28.81% increase. What this resulted in was growth from $421,137 to $542,486. This puts the percentage of transaction fees making up miner revenues at 1.6%, one of the highest levels ever recorded in 2022. Mining Difficulty On The Rise The block production rate from miners has been on the rise for the last couple of weeks. However, with the last week, it had begun to crumble. It fell 2.15% from its 6.36 block production rate per hour for the prior seven days to now be sitting at a 6.23 block production rate for last week. BTC crashes below $30,000 | Source: BTCUSD on TradingView.com Nevertheless, the block production rate for bitcoin miners is still high, as the previous target had been a block production rate of 6 per hour. With such a high block production rate, it is expected that the mining difficulty is set to go up another 4% to 5% by Wednesday. Related Reading | Market Downtrend Trigger Bitcoin Inflows From Institutional Investors Bitcoin’s hashrate continues to remain high and has not been negatively impacted by the recent market crash. Average transactions per block are down for the past week though from 1,806 to 1,774, accounting for a 1.75% decrease. Featured image from Business Today, charts from Arcane Research and TradingView.com
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Bitcoin SV joins the hard fork in posting dismal price performance as the dust settles on the Terra UST debacle.
