Author: Eric Holst

This has been the longest crypto-winter in its existence, and the market is continuously skittish with any headline that provokes fear, uncertainty, and doubt.

The crash in May (due to the macroeconomic and collapse of Terra Luna) and the FTX fraud, have proven the proverb of the crypto-pessimist: there is always a dip after a dip. (shock smiley?)

The market metrics are showing are speaking for itself…

  • Just over 51% of all Bitcoin wallets, 24.6 million, are with their investments below their purchase amount (source: Coindesk)
  • The total market fell -63% year-to-date (YTD) comparison, which is equivalent to $1.5 trillion. (Source Kraken Report)

Aside from the market data, daily active wallets have also gone into their winter domicile. YTD comparisons show -12% fewer wallets active for Ethereum, -44% for Cardano, and -65% for Algorand. (Source: Coindesk)

Is there any good news to share on such a gray winter day and a seemingly ever-continuing market depression? YES!!

Is there any good news to share on such a gray winter day and a seemingly ever-continuing market depression? YES!!

  1. With the insolvency of the (almost and hopefully) last dubious players in the market, we can distinguish which projects are sustainable and profitable. The survivors might be the good ones (?)
  2. Bitcoiner seem to do more than just hodl. In the YTD comparison of active wallets, we see +10%, who do not seem to mind the market and rather stack satoshis (a fraction of a Bitcoin). (Source: Coindesk)
  3. The providers of wallets for the self-storage of crypto have their highest demand in years. Ledger CEO, Pascal Gauthier said that this November he has seen the highest sales in his company’s history. (Source) Also, they have just released their newest wallet model, molded by the hands of the original iPod designer.
  4. Ether has become deflationary! That means that less Ether is created than is removed from the market by burning transaction fees. In times of high inflation worldwide, an asset with such characteristics is a rarity. (Quelle https://ultrasound.money/
  5. 5. Polkadot, the layer 0 for the easy deployment of blockchains, has stepped up their work towards protecting their ecosystem of scammers with their “Anti-Scam Initiative” and to make sure that only valid projects get a slot on the Polkadot relaychain.

It seems, that after traders and scammers are gone, but the builders and Bitcoiners have stayed!

A good time to chat with those who are still after the party. Lets #Buidl! and #hodl!

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