Right after the recent news had come out where it was revealed that bitcoin ETFs were now a thing, the crypto community had suddenly experienced growth on twitter, a platform frequently visited by financial institutions and wealthy individuals - it is seen as a place for financial institutions to engage their audiences, and some have already displayed interest in buying into bitcoin through these ETFs which is exactly why the price of BTC had shot up in the first place, keep in mind that over 40 billion dollars had just entered crypto after these strings of announcements and rulings came to the public eye. Imagine the edge people in power would've had if they had bought crypto ahead of time at the discounted 25,000$ mark. It'd be a portfolio game changer. 7% is a ton for basically every portfolio in existence; I know that nancy pelosi had been eyeing this for a very long while haha.

Let's analyze the general crypto market here:

It's pretty interesting to look at. A dip in active addresses are common when the price goes down, and obviously increase when the prie goes up. In game theory, this should lead to an ever increasing price - assuming you're voiding a ton of obstacles...

Those are the statistics for the same set of cryptocurrencies as listed in the 1st image. Developer activity is increasing by a ton. Sad to see that this is only for 2022 as 2023 hadn't ended yet haha.

It's interesting how ethereum had ended mining and bitcoin had continued it to a specific point. It's also interesting how ethereum hadn't done the same thing as bitcoin - and quite dissapointing as we're now stuck with sky high fees for the majority of the week which, again, sucks. 7% of fees make no difference in the grand scheme of things. It makes no difference if my transaction costs 9.3$ instead of 10$. It really doesn't. If it did, I'd be using solana or just plain old bank transfers - I just prefer not to use ethereum since I don't want to be a slave to their fees. 

We said goodbye to 0.1$ fees for a 99% reduction in enviromental costs for an organisation that doesn't even care about environmental costs. They just want to have better PR feedback and thought that it'd be the best way to do it. Now, millions of people suffer with higher ethereum fees, making it harder for individuals in 3rd and 2nd world countries to enter the token which means that it's missing out on a much larger market compare to what most people think it is.

I'm not encouraging environmental damage here or anything but isn't it peculiar that etheruem would only be spending as much as paypal annually in energy consumption if they just simply continued on the mining protocol? What on earth does paypal even need all that energy for? That's my only question...atleast for ethereum we know that it helps power a financial revolution while creating freedom for everyone to spend their money however they like (and make profits too).

That's a pretty good ratio if you'd ask me, especially for a token that's as big as ethereum. 

For comparison, pepe was worth 2.5 billion dollars and only had 12 million dollars in total value secured. 

I hope this article had allowed you to see what the crypto community was like the past year and week.

That's all for today. 

Cheers!