Time To Buy?
With the recent pullback, it may be a great time to invest in digital assets. Plus the top news and stats of the week and $2 LuvMonster NFTs.
Issue Summary: With a recent 35% pullback in the market, we think it’s a great time to buy as we prepare for the next leg up. Our favorites right now are the top L1s — ETH, LUNA, BNB, AVAX, SOL, FTM, and DOT. Plus we cover the top news and stats of the week.
In This Week’s Issue:
This Week in Crypto by Mike Gavela
🗞️ Top Weekly News
💵 Weekly Fundraises
📊 Key Stats - 2021 in Review
📝 Report Highlights
🎧 Best Podcasts
📈 Top 10 Performers
Sponsors: FTX, HeartRithm, Celo, and Hive Digital
LuvMonster NFT Drop - $2 NFTs - Join the Telegram
Coinstack Podcast Episodes
Top 30: A Good Long-Term Crypto Portfolio
Join the Coinstack Telegram Group
Who We’re Following on Crypto Twitter
How to Get Started in Crypto Learning
Thanks to Our 2022 Coinstack Sponsors…
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HeartRithm is a crypto quant fund that invests in DeFi, margin lending, and algorithmic trading to generate monthly yield for institutional allocators and qualified clients in a market-neutral manner, without a single down month for their strategies since starting in 2017. They also have a major social impact mission and are building a regenerative engine for funding philanthropic efforts. Learn more at www.heartrithm.com. Join our next webinar here.
Celo, the mobile-first blockchain that makes financial tools accessible to anyone with a mobile phone number, is a proud sponsor of Coinstack. Connect, transact, and store your crypto assets on the Celo blockchain using only an SMS interface. Learn more about Celo at www.celo.org.
Hive Digital is a leader in providing SEO and PPC services for blockchain, DeFi, Web3, and crypto companies to drive organic and paid traffic. If you want to expand your presence and leads from Google and Facebook, hire Hive Digital at www.hivedigital.com.
🗞️ Crypto News Recap: The Top 5 Stories
Welcome back to This Week in Crypto… everything you need to know in one scannable format. Here are the top 5 stories of the week...
⚡ Former US SEC Chairman: Digital Assets Will Change Global Financial Infrastructure - Jay Clayton said cryptocurrencies’ ability to eliminate friction in the global system would be hard to resist. (Source)
😮 Paypal Is Exploring Creating Its Own Stablecoin as Crypto Business Grows - Hidden code in the company’s iPhone app shows that a potential “PayPal Coin” would be backed by the U.S. dollar. (Source)
🏧 Congress Is Preparing an Oversight Hearing on Bitcoin Mining's Environmental Impact: Sources - A Congressional subcommittee is preparing a hearing to examine the environmental impact of cryptocurrencies, especially bitcoin mining. (Source)
💰 China’s Digital Yuan Wallet Goes Live on App Stores in Pilot Mode - A pilot version e-CNY, the mobile wallet for China’s digital yuan, has gone live on iOS and Android app stores in China. (Source)
🤑 US DOT Wants to Fund Research Into Crypto Token Incentives for Drivers - The U.S. Department of Transportation's Small Business Innovation Research (SBIR) program unveiled a raft of proposed research areas this week including (Source)
💬 Tweet of the Week
😂 Meme of the Week
💵 Weekly Crypto Fundraises & Deals
Here are all the crypto fundraises we heard about this week, ranked by size…
📝 Highlights From Crypto Reports
Here are the top highlights from the best crypto research reports this week…
1. Crypto Crime Trends for 2022 - Illicit Share of All Cryptocurrency Transaction Volume Reaches All Time Low
Chainalysis provides blockchain data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. This week, we review Chainalysis’s latest report on crypto crime trends for 2022.
"Transactions involving illicit addresses represented just 0.15% of cryptocurrency transaction volume in 2021 despite the raw value of illicit transaction volume reaching its highest level ever. As always, we have to caveat this figure and say that it is likely to rise as Chainalysis identifies more addresses associated with illicit activity and incorporates their transaction activity into our historical volumes."
2. Ethereum DCF Updated By Ryan Allis - Shows value per staked Ether should be $11k+ based on cash flows
3. Ethereum Catching Up to Bitcoin - On Track for Flippening By 2025 Or Sooner If PoS Conversion Goes Well
4. Ethereum DeFi Market Share Now at 62.7%
5. Top Blockchains in DeFi by Growth Last 100 Days Are Fantom (FTM), Avalanche (AVAX), and Terra (LUNA) Among Blockchains With $5B+ TVL
6. Ethereum’s Daily Revenues Are Now 100x Bitcoin’s
📊 Key Stats of the Week
Here are the most important and interesting stats in crypto this week...
1. On Jan 10, ETH Had a Record Burn of 18k+ ETH in 24h
2. Near Protocol and Cosmos Were the Top Performers in the Past Month, While Other L1s Stayed Flat or Had a -20% to -40% Drawdown
3. Perpetual Open Interest Has Reached New All-time Highs of 264k BTC in the Face of Recent Price Declines, Rising +42% Since December 4
4. Options Protocols Massively Outperformed This Week, With Market Caps Collectively Increasing 66% to Start the Year
5. Frax Share (FXS) Is Up 95% Since Dec and Trading at Nearly a 2x Premium to Its Monetary Supply
🎧 Top Crypto Podcasts of The Week
Here are the crypto podcasts that are worth listening to this week...
📈 Top Performers This Week
Here are the top 10 performing digital assets this week, out of the top 100 by market cap. Some of our favorites like ATOM, FTM, and YFI had an especially great week.
And here are the top 15 performers in the last week from all tokens with a market cap of $20M+.
The Top Performers This Month from the Top 100: Fantom, Near, and Harmony are L1s, Yearn is a DeFi aggregator.
🎨 NFTs of the Week: $2 LuvMonster NFTs
In our last issue, Mrs. Bubble launched two new NFTs. She sold ten copies of LuvMonster #42 - Slinky Sloth for $2 and it’s now trading at $108, providing a nice profit to early buyers. Join the LuvMonster Telegram Group here for early access to each weekly NFT drop.
She also sold ten copies of LuvMonster #41 MickiPoo, and it’s now listed for $202.
This week, we are launching two new LuvMonsters NFTs… They will probably sell out within 3-4 hours of us sending this email, so grab one right away if you can. We mint them on the Polygon network on OpenSea, so there are zero gas costs.
🎧 Latest Episodes of The Coinstack Podcast
We have a new Coinstack podcast. So far we’re at 15,447 listens and growing!
Here are the episodes we’ve released so far...
You can listen and subscribe on:
We really appreciate you listening and sharing the link with your friends.
📈 Our Top 30: A Long-Term Crypto Portfolio
Each week we include our top 30 list. If we were creating a portfolio from scratch right now that we didn’t want to touch for 5-10 years, we would be sure to include our top 5: ETH, DOT, SOL, AVAX, & FTM. Here’s our current top 30 for a well-rounded long-term crypto portfolio…
To see which exchanges to buy these on, use Coinmarketcap or Coingecko. We recommend using dollar-cost averaging and holding for a 5-10 year time horizon for any crypto investor as prices can fluctuate a lot in the short term.
💬 Join The Coinstack Telegram Community
Join our Telegram Channel here to chat with our community, ask questions, and learn more about the future of money as we move to a decentralized internet and the creation of a new open global monetary system that works for everyone. We now have over 1700 members on our Telegram.
💬 The People We’re Following Closely on Twitter
📚 How To Get Started With Crypto Learning
Crypto: Explain It Like I’m 5 (Article)
Bankless - The DeFi community (Substack + Podcast + Discord)
Blockgeeks Video Tutorials (Video)
The Coinstack Website (Website)
2008 Bitcoin Whitepaper (PDF)
2013 Ethereum Whitepaper (PDF)
📰 The Coinstack Newsletter:
Tracking the most important blockchain stories of the 2020s, including a decentralized internet and the creation of a new open global monetary system that works for everyone. As always, published for informational purposes only. Please do your own research. Just our opinions. Not intended as financial advice as we are not financial advisors. We may be long on many of the digital assets we write about as we believe strongly in the sector. Please do your own research. Published and written weekly by Ryan Allis and Mike Gavela.
The information above does not constitute an offer to sell securities or a solicitation of an offer to buy securities. Further, none of the information here is a recommendation to invest in any securities. Past performance is no guarantee of future results. Any historical returns, expected returns or probability projections may not reflect actual future performance. All investments involve risk and may result in loss.
Comments and thoughts welcome on our Telegram channel:
Website at Coinstack.co
Substack at Coinstack.substack.com
Twitter at Twitter.com/ryanallis
Telegram channel at t.me/thecoinstack
NFTs at opensea.io/luvmonsters
Ethereum Fundamental Value Model at Coinstack.co/ethvalue
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