Contextualizing the week’s crypto market movement
By Coin Metrics|2022-11-17T17:14:33-05:00November 16, 2022|Parker Merritt, State of the Market|
"We got overconfident and careless." One week post-FTX implosion, ex-CEO Sam Bankman-Fried turns to Twitter to plead his case. Sam claims he failed to fully grasp his risk exposure, referencing a napkin math estimate of "~$5b of leverage, backed by [...]
By Coin Metrics|2022-11-10T11:04:02-05:00November 9, 2022|Parker Merritt, State of the Market|
RIP to FTX after SBF reports funds are MIA. Once praised as crypto's quintessential success story, FTX CEO Sam Bankman-Fried now operates in crisis mode, scrambling to secure emergency funding for the industry's 3rd-largest exchange. By now you've undoubtedly heard [...]
By Coin Metrics|2022-11-03T10:18:19-04:00November 2, 2022|Kyle Waters, State of the Market|
Twitter officially entered a new era under the helm of Elon Musk last week as the Tesla and SpaceX founder completed his $44 billion takeover of the social media platform following a 6-month saga. With the latest changing of the [...]
By Coin Metrics|2022-10-27T08:41:04-04:00October 26, 2022|Parker Merritt, State of the Market|
Decentralization diehards are dancing with the devil, with yield and regulation pushing protocols towards the temptation of trusted third parties. On Monday, DeFi protocol MakerDAO voted to custody $1.6B of USDC with Coinbase's institutional division, earning 1.5% rewards on a [...]
By Coin Metrics|2022-10-20T15:40:37-04:00October 19, 2022|Parker Merritt, State of the Market|
Though many firms have folded in the crypto liquidity crunch, top trading platforms continue to up the ante. On Wednesday, FTX chief Sam Bankman-Fried stirred up some controversy, sharing an "industry norms manual" and recommending 'blocklists' to ensure compliance with [...]
By Coin Metrics|2022-10-13T10:15:40-04:00October 12, 2022|Parker Merritt, State of the Market|
From cross-chain carnage to DeFi horseplay, this week was characterized by a brand of chaos found only in crypto. According to a recent report from blockchain surveillance firm Chainalysis, October is already the biggest month for hacker activity in 2022, [...]
By Coin Metrics|2022-10-06T12:41:53-04:00October 5, 2022|Parker Merritt, State of the Market|
Crypto crept into Q4 with hopes for redemption, though October already offers some ominous possibilities. Last week's supposed sabotage of the Nord Stream pipeline was yet another painful blow for European energy infrastructure, pushing the EU to the point of [...]
By Coin Metrics|2022-09-29T14:12:15-04:00September 28, 2022|Parker Merritt, State of the Market|
Markets remain resigned as executives exit the crypto industry, extending a sector-wide stretch of corporate restructuring. Following Kraken CEO Jesse Powell's sudden departure from his leadership role last week, FTX US president Brett Harrison announced he'd also be stepping down, [...]
By Coin Metrics|2022-09-26T10:45:56-04:00September 21, 2022|Parker Merritt, State of the Market|
Macro forces once again dominate market sentiment after a relatively anticlimactic week of post-Merge activity. Ethereum's shift to proof-of-stake has seen surprisingly few complications, with validator attestation remaining at a healthy 98-99% participation rate and competing proof-of-work forks quickly fading [...]
By Coin Metrics|2022-09-20T13:27:16-04:00September 14, 2022|Parker Merritt, State of the Market|
If you're reading this, Ethereum is proof-of-stake. After reaching the Terminal Total Difficulty (TTD) of 58,750,000,000T early Thursday morning, the ecosystem's 2nd largest cryptoasset successfully executed "the Merge," fusing the existing smart contract layer with the consensus layer. The transition [...]
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