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- 🥜 The collapse is already happening
🥜 The collapse is already happening
PLUS: HODL Waves
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What we’ve cooked up for you today…
🏇 Which blockchain is the fastest
🚨 The collapse is happening
🌊 HODL waves
💰 And more…
MARKET WATCH ⚖️
Prices as at 6:15am ET
Only the top 20 coins measured by market cap feature in this section
WHICH BLOCKCHAIN IS THE FASTEST? 🏇
BREAKING: The fastest blockchain processed 91 million transactions in a day
CoinGecko has published a report breaking down which Blockchain’s have the highest transactions per second (TPS).
Let’s go over the highlights.
No surprise here…
Solana comes in at number 1, hitting a record high daily average TPS of 1,053 on April 6.
This makes Solana 46 times faster Ethereum and over 5 times faster than Polygon.
(Polygon has the highest TPS among Ethereum scaling solution)
Despite ranking as the fastest blockchain, Solana has still only achieved 1.6% of its claimed maximum speed of 65,000 TPS…
Coming in at 2nd place is Sui, which recorded its highest TPS of 854 in July 2023.
BNB Smart Chain (BSC) takes out 3rd place with 378 TPS recorded on December 7, 2023.
This makes BNB the fastest blockchain among Ethereum Virtual Machine (EVM) compatible chains…
Despite reaching less than half the speed of Sui.
And if you look all the way towards the bottom of the list you’ll find Ethereum and Bitcoin.
Ethereum recorded 22.7 TPS whilst Bitcoin came in with 10.7 TPS.
But here’s an interesting stat for you:
The 8 non-EVM blockchains have an average peak TPS of 284.
Whereas the 17 EVM compatible blockchains have an average TPS of 74.
This makes the non-EVM blockchains 3.9 times faster than EVM blockchains on average.
(If you’re unsure what we mean by EVM and non-EVM, checkout this short article)
So far this cycle, we’ve seen the rise of memecoins on the Solana network.
And the biggest reason for this shift is the large amount of transactions it can handle at once. (when it decides to work…)
Perhaps a statistic to keep in mind if you are looking to diversify your crypto portfolio… 🤔
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THE COLLAPSE IS HAPPENING 🚨
The collapse of fiat money has already begun. All over the globe.
Yet most people are completely unaware.
That’s the latest warning out from Cathie Wood.🚨
Cathie Wood is the founder and CEO of ARK Invest - the third largest Bitcoin ETF issuer.
In her latest update to investors, Cathie pointed something out:
We are seeing major global currencies collapse.
Right at this very moment.
“I’m just looking at the devaluations that are taking place around the world. Many people don’t know about them because they’re not hitting the headlines.”
She’s not wrong.
In just the last 2 months, we’ve seen two major currencies plummet in value:
First off, the Egyptian pound, which fell 40%. They had to be bailed out by the UAE.
Egyptian Pound collapses 40% in March
Earlier this month, we saw the Yen tumble to a 34-year low.
Japanese Yen collapses
It’s clear that modern monetary systems are broken.
Throughout history, 1 thing is inevitable: fiat currency collapses.
Again & again & again.
However, this time around, Cathie argues another factor is at play.
For the first time in human history, there’s an alternative.
“I think one of the things that's going on is Bitcoin. There is an insurance policy out there. These poor people that have their wealth and purchasing power in that 1 currency are learning everyday: ‘I have to change this.’ Now they have a way to do so. If they have an internet connection. That's pretty exciting.”
Looking back in 10 years, it will be obvious.
Yet so few are paying attention.
A reminder - Cathie Wood has a $1.5 million dollar price target for Bitcoin, by 2030. 🔭
HODL WAVES 🌊
Today we’ll be taking a look at the classic Bitcoin HODL Waves.
Each coloured band shows the percentage of Bitcoin that last moved within that time period.
As the colours get cooler, the age bands get older (yellow being the oldest, representing coins last moved within the last 3 - 6 months).
This metric can also be used for long-term holders, but we’ll just be focusing on short-term holders today.
Here’s the breakdown:
24hr: 0.57%
1d - 1w: 1.91%
1w - 1m: 3.51%
1m - 3m: 13.26%
3m - 6m: 6.85%
That means that ~26.10% of the Bitcoin supply has moved within the last 6 months.
Which leaves ~73.90% of the Bitcoin supply NOT moving in 6+ months. 🤯
That’s an insane amount of the supply not moving.
This metric can also be used to gauge where we are in the cycle.
As the price of Bitcoin increases, the amount of short-term holders also increases.
This is due to long-term holders deciding to take profits by selling their coins. (This makes those coins “young” again) 🤑
You can see in the chart above, it begins to spike as Bitcoin reaches new highs.
Although, each spike is smaller than the previous one…
Which means the amount of long-term holders increases with each cycle.
With such a limited amount of Bitcoin for sale, the price has no choice but to go up. 🚀
CRACKING CRYPTO 🥜
Analyzing the US Government's Bitcoin holdings: What you need to know. According to the latest data from IntoTheBlock, the U.S. government holds over 1% of the Bitcoin supply.
Solana's SOL Could Hit $200 By Month End, Hedge Fund Founder Says. The fifth-largest cryptocurrency is benefitting from multiple catalysts, including bustling meme coin and DeFi activity.
5 of 7 on-chain indicators suggest the bull run is just beginning. Five different on-chain indicators paint a bullish picture but two are suggesting that markets may have topped.
Spot Ether ETFs will come down to a 5-person vote: Gensler the decider? The spot Ether ETF decision could come down to SEC Chair Gary Gensler with two pro-crypto and anti-crypto Commissioners on both of his sides.
WHAT WE’RE READING 📚
Want to get even smarter? Check these out.
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CAN YOU CRACK THIS NUT? ✍️
Select your answer below and you’ll be redirected to the results page. (answer explanation can be found after “Meme Corner”)
What was Bitcoin's initial block reward? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: B) 50 Bitcoin 🥳
When Bitcoin first launched, the block reward was 50 BTC
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DISCLAIMER: The content of this newsletter is not financial advice. This newsletter is strictly educational and is not investment advice. Please be careful and do your own research.
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