Miner margins have been getting compressed a bit lately with the following mix: Hash rate up, difficulty up, and BTC price down. Hash price is its lowest since late 2020.
Starting to see some miners trimming their BTC (bottom right).
These are the four charts I'll be watching:
The facts are clear. According to Chainalysis, just 0.15% of ALL crypto transactions in 2021 were associated with some type of illicit activity. The UN estimates 2-5% of fiat (cash), worth $800B to $2T, was associated with some type of illicit activity. Let’s be real.
Long-term holder cost basis is rising as short-term holder cost basis declines.
If this persists and STH crosses below LTH, historically has marked generational Bitcoin buying opportunities. We are getting close.
We're sorry for turning off the lights on Ethereum for a while. It seems abundantly clear that ApeCoin will need to migrate to its own chain in order to properly scale. We'd like to encourage the DAO to start thinking in this direction.
This has been the largest NFT mint in history by several multiples, and yet the gas used during the mint shows that demand far exceeded anyone’s wildest expectations. The scale of this mint was so large that Etherscan crashed.
The hope was that those challenges would be assuaged via a rigorous gating mechanism in the form of an on-chain KYC, a max mint of 2 per KYC'd wallet, and a significant clearing price at 305 ApeCoin.